California passed a bill amending the state’s foreclosure laws. Under the bill, a person is prohibited from contacting, soliciting, or initiating communication with an owner to claim the surplus funds from a foreclosure sale of the owner’s residence before 90 days after the trustee’s deed has been recorded. The bill went into effect July 18, 2024.
Click to view the CA AB 295: https://www.tenaco.com/wp-content/uploads/2024/08/CA-AB-295-07-19-24.pdf
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Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
FHA issued Mortgagee Letter 2024-20 implementing Federal Flood Risk Management Standards for new construction properties located in Special Flood Hazard Areas. On April 23, 2024,
Fannie Mae issued Selling Guide Announcement SEL-2024-07 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to leasehold estates
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