Fannie Mae issued Lender Letter LL-2016-06 (Lender Letter), introducing a new mortgage loan modification program. The Fannie Mae Flex Modification combines features of Fannie Mae’s
Fannie Mae issued Servicing Guide Announcement SVC-2016-11 (Announcement). The Announcement sets forth several updates to the Servicing Guide. The Servicing Guide updates provide alternatives to
Fannie Mae issued Selling Guide Announcement SEL-2016-09 (Announcement). The Announcement: expands the optional Desktop Underwriter (DU) validation service to include validation services for assets and
Fannie Mae announced that it will no longer charge a fee to exercise a property inspection waiver (PIW). The process for exercising a PIW offer
Fannie Mae and Freddie Mac increased the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2017. The 2017 maximum
Fannie Mae issued Reverse Mortgage Servicing Announcement RVS-2016-02 (Announcement). The Announcement updates the Reverse Mortgage Loan Servicing Manual to require a servicer to submit its
Fannie Mae issued Servicing Guide Announcement SVC-2016-10 (Announcement). The Announcement: updates deadlines for submitting expense reimbursement requests; establishes additional property preservation repair descriptions and expense
Fannie Mae recently introduced Desktop Underwriter (DU) Validation, a service that impacts various Quality Control requirements. For lenders that opt-in to the new DU validation
Fannie Mae and Freddie Mac issued an Implementation Guidance and Update (Update) for the upcoming redesigned Uniform Residential Loan Application (URLA). The Update announces a
Freddie Mac issued Guide Bulletin 2016-19 revising Freddie Mac’s income qualification requirements and guidance. The revisions provide additional requirements and guidance on matters that impact
FHA issued a waiver regarding early payment default review requirements for properties impacted by the California wildfires. FHA currently requires lenders to select all early
Tennessee passed a bill increasing the permissible interest rate for closed-end loans under the Industrial Loan and Thrift Companies Act (ILTCA). Under the bill, the
Utah passed a bill amending the Residential Mortgage Practices and Licensing Act (RMPLA) with respect to the use of prescreened trigger lead information. Under the
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