Fannie Mae issued Lender Letter LL-2017-06, announcing additional clarifications for mortgage loans impacted by Hurricanes Harvey and Irma. The Lender Letter contains both selling and servicing policy guidance. The selling policy guidance includes updated information with respect to: the definition of a disaster area; assessment of property damage; property representations and warranties; Desktop Underwriter (DU); DU Refi Plus and Refi Plus loans; reimbursement for property inspection costs; and age of document requirements. The servicing policy guidance includes updated information with respect to: disaster relief, forbearance and other workout options; borrower solicitation packages; the temporary suspension of foreclosure sales, evictions and servicing transfers; assessment of property damage and reimbursement for property inspection costs; and a temporary extension for submitting a Report of Property Insurance Loss. The selling and servicing policy guidance went into effect September 13, 2017.
FHA
FHA Waives Early Payment Default Review Requirements for Properties Impacted by California Wildfires
FHA issued a waiver regarding early payment default review requirements for properties impacted by the California wildfires. FHA currently requires lenders to select all early
April 2, 2025
