Illinois passed a bill requiring lenders and servicers licensed under the Residential Mortgage License Act to accept certain arrearage payments offered by a borrower in
Illinois passed a bill extending the sunset date of the additional Foreclosure Prevention Program Fund and Abandoned Residential Property Municipality Relief Fund fee. Currently, a
Maryland amended rules under the Mortgage Originator Law. The amended rules: establish advertising requirements and restrictions; prohibit mortgage loan originators from conducting mortgage lending business
Georgia adopted rules establishing servicing standards under the Georgia Residential Mortgage Act (GRMA). The new servicing standards establish requirements with respect to: dual tracking; evaluation
Hawaii passed a bill requiring the release of a security instrument evidencing the assignment of the borrower’s interest in leases and rents upon full satisfaction
Delaware passed a bill extending the sunset date of the Automatic Residential Mortgage Foreclosure Mediation Program (Program) for an additional 2 years. Under the bill,
New Hampshire passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power of
Hawaii passed a bill enacting change of control requirements under the Mortgage Servicers Act (MSA). Under the bill, a mortgage servicer licensed under the MSA
Rhode Island passed a bill making residential mortgage fraud a crime. Under the bill, a person found guilty of residential mortgage fraud is subject to
Nevada passed a bill reestablishing the Foreclosure Mediation Program. Nevada’s Foreclosure Mediation Program was set to expire on June 30, 2017. Under the bill, the
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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