VA issued Circular 26-23-10, Change 1, providing additional information regarding fees that may be charged to and paid by a person assuming a VA-guaranteed loan
VA issued Circular 26-24-05 authorizing in advance, as a local variance, an Assumption Locality Variance charge (Variance). Per the Circular, a lender may charge an
VA issued Circular 26-24-02 amending COVID-19 Home Retention Waterfall and COVID-19 Refund Modification requirements. Per the Circular, VA included a 40-year repayment term for a
VA issued Circular 26-23-25 to announce a temporary foreclosure moratorium for borrowers. The Circular strongly encourages servicers to establish a moratorium on initiating, continuing, and/or
VA revised Chapter 7, (Topic 7) of the Lender’s Handbook (M26-7). VA made the following changes: The revisions went into effect July 27, 2023. Click
VA revised chapter 4 of the Lender’s Handbook (M26-7). Chapter 4 (Topic 7) was revised to clarify that: The revisions are effective for all loan
VA extended the foreclosure moratorium for borrowers affected by the Maui wildfires. The foreclosure moratorium is extended through May 31, 2024. Click to view the
VA issued Circular 26-23-12, Change 1, amending COVID-19 Home Retention Waterfall and COVID-19 Refund Modification requirements. Per the Circular, VA amended Section 7(a)(2) of the
VA issued Circular 26-23-19 to amend funding fee exemption determinations and how refund requests should be submitted. The amended procedures are effective October 2, 2023.
VA issued Circular 26-22-16, Change 1, amending the stacking order for files selected for VA Full File Loan Review (FFLR). Per the Circular, VA deleted
Fannie Mae issued Servicing Guide Announcement SVC-2025-01 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae introduced new cybersecurity requirements for
Freddie Mac issued Bulletin 2025-2 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to the portfolio reconciliation requirement
New York passed a bill amending recently enacted flood insurance requirements and restrictions for mortgage lenders and servicers. In December, 2024, New York passed a
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