The CFPB amended its guidance on service providers to clarify that the depth and formality of the risk management program for service providers may vary depending upon the service being performed–its size, scope, complexity, importance and potential for consumer harm.
Click here to view the CFPB Supervision of Service Provider Guidance
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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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