Fannie Mae issued Selling Guide Announcement SEL-2016-02 (Announcement). This Announcement: eliminates the continuity of obligation policy; clarifies lender obligations for reporting a breach of a selling representation or warranty related to the lender’s compliance with applicable laws; updates language regarding the types of losses for which lenders must indemnify Fannie Mae; clarifies that lenders are only required to deliver HomeStyle Renovation mortgage loans with recourse when the loan is delivered to Fannie Mae prior to the completion of the renovations; amends the definition of “relocation loan”; creates new state-specific notes for Pennsylvania; amends the Pennsylvania security instrument; updates the Special Feature Codes list; announces the publication of fillable rental income worksheets; and announces several miscellaneous Selling Guide updates.
CFPB
CFPB Amends Fair Credit Reporting Act with respect to Medical Information
The CFPB adopted rules amending the Fair Credit Reporting Act (FCRA) with respect to medical information. Per the rule adoption, the CFPB removed an exception
January 16, 2025
