Massachusetts adopted rules amending requirements with respect to the loan modification process for loans qualifying as “certain mortgage loans.” The adopted rules: remove all references
Washington adopted rules clarifying tangible net worth and liquidity requirements for mortgage loan servicers licensed under the Consumer Loan Act (CLA). Under the adopted rules,
Colorado adopted rules amending requirements under the Mortgage Loan Originator Licensing and Mortgage Company Registration Act (MLOLMCRA). Under the adopted rules, a mortgage loan originator
California passed a bill enacting foreclosure provisions with respect to successors in interest. Under the bill, if a person claiming to be a successor in
The Ohio Housing Finance Agency adopted forms for lenders and servicers participating in the D.O.L.L.A.R. deed program. The forms include: an application to participate in
New York adopted rules implementing recently enacted requirements for vacant and abandoned residential property. Under the adopted rules, mortgage lenders and servicers have until February
Alaska adopted rules increasing the licensing fees under the Secure and Fair Enforcement for Mortgage Licensing Act (SFEMLA). Under the adopted rules, the fees for
The New Jersey Department of Banking and Insurance (Department) issued a bulletin amending the definition of a “high-cost home loan” under the Home Ownership Security
Vermont issued a memorandum announcing that the Declared Rate for 2017 will remain at 3.6%. The Declared Rate is used to determine whether a loan
The Tennessee Department of Financial Institutions announced the 2016-2017 supervision fee for mortgage lenders, brokers and servicers licensed under the Residential Lending, Brokerage and Servicing
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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