FHA issued a correction to Mortgagee Letter 2016-20 regarding the 2017 nationwide forward mortgage limits. Mortgagee Letter 2016-20 referenced an incorrect limit ceiling for Alaska, Hawaii, Guam, and the Virgin Islands, which are identified as “special exception areas” due to higher construction costs in these areas. While Mortgagee Letter 2016-20 referenced an incorrect limit ceiling for special exception areas, there are no changes to the forward mortgage limits in these, or any other jurisdiction.
Fannie Mae
Fannie Mae Issues Servicing Guide Announcement SVC-2024-06
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.
November 14, 2024
