FHA issued Mortgagee Letter 2016-05 providing additional guidance related to Mortgagee Optional Election (MOE) assignments. This Mortgagee Letter provides mortgagees with instructions on requesting an extension of time where factors prevent the timely securing of a right to remain by a non-borrowing spouse and result in the mortgagee’s inability to complete the mortgagee’s assessment following the mortgagee’s MOE assignment election. In addition, this Mortgagee Letter provides alternative certification language for states in which state-specific law prevents the mortgagee from truthfully certifying to 2 of the statements set forth in the mortgagee certification.
CFPB
CFPB Amends Fair Credit Reporting Act with respect to Medical Information
The CFPB adopted rules amending the Fair Credit Reporting Act (FCRA) with respect to medical information. Per the rule adoption, the CFPB removed an exception
January 16, 2025
