FHA issued Mortgagee Letter 2017-08, announcing the implementation date of FHA’s new Loan Review System. The implementation date of the new Loan Review System (announced in Mortgagee Letter 2017-03), and the effective date of the policies and procedures for the Loan Review System (set forth in Single Family Housing Policy Handbook 4000.1), is May 15, 2017. The Mortgagee Letter also announces an extension to the effective date for the updates published in Mortgagee Letter 2016-21 (regarding the timeframe for conducting a pre-endorsement mortgage review during the test case phase of the Direct Endorsement Unconditional Authority process). The effective date has been extended from April 1, 2017 to May 15, 2017.
State Compliance Summary
Tennessee Increases Permissible Interest Rate for Closed-end Loans under Industrial Loan and Thrift Companies Act
Tennessee passed a bill increasing the permissible interest rate for closed-end loans under the Industrial Loan and Thrift Companies Act (ILTCA). Under the bill, the
April 1, 2025
