Fannie Mae issued Selling Guide Announcement SEL-2016-03 (Announcement). This Announcement: introduces the HomeStyle Energy mortgage loan (enabling the borrower to finance energy-efficient upgrades when purchasing or refinancing a home); simplifies policies for borrowers with multiple financed properties; eliminates the special lender approval requirement with respect to Texas Section 50(a)(6) mortgage loans; removes the restriction prohibiting a power of attorney in connection with a Texas Section 50(a)(6) mortgage loan; updates co-op share loan policies; clarifies flood insurance coverage requirements; and announces several miscellaneous Selling Guide updates.
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
