RHS issued a SFH Guaranteed Servicing Notice (Notice) announcing new default status reason codes for electronic status reporting. Per the Notice, RHS added 12 new
RHS revised chapters 2, 15, and 16 of the Single Family Housing Guaranteed Loan Program Technical Handbook (HB-1-3555). The updates to chapter 2 pertain to
RHS issued a SFH Guaranteed Origination Notice (Notice) clarifying loan eligibility for a non-U.S. citizen with a valid Social Security Number and work authorization. Per
RHS adopted rules mandating the use of the Guaranteed Underwriting System (GUS) and the Lender Loan Closing System (LLC) for all Single Family Housing Guaranteed
RHS issued a SFH Guaranteed Servicing Notice (Notice) announcing temporary guidance for the 12-month forbearance limit for borrowers who are impacted by Hurricane Ida (or
RHS temporarily modified the calculation of non-fixed student loan payments for purposes of determining debt-to-income ratios. Per the modified requirements, lenders must now use the
RHS permanently adopted the Single-Close Construction Pilot Program (previously in effect in 27 states) on a nationwide basis, with modifications. The Single-Close Construction Program (Program)
RHS amended the income limits under the Single Family Housing Guaranteed Loan Program. Appendix 5 of the Single Family Housing Guaranteed Loan Program Technical Handbook
RHS adopted rules pertaining to income banding, net family assets and area loan limits. Per the rule adoption: a two-tier income limit structure (also known
RHS revised the area loan limits for 24 states. The 24 states are: California, Colorado, Delaware, Florida, Georgia, Hawaii, Indiana, Iowa, Maryland, Minnesota, Mississippi, Missouri,
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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