FHA issued Mortgagee Letter 2019-11, reducing the maximum loan-to-value (LTV) and combined loan-to-value (CLTV) percentages for cash-out refinance mortgages. Per the Mortgagee Letter, the maximum LTV and CLTV percentages for a cash-out refinance is now 80% (rather than 85%) of the “adjusted value”. The reduced percentages apply to case numbers assigned to FHA on or after September 1, 2019.
Fannie Mae
Fannie Mae Updates Time Frames for Completion of Routine Foreclosure Proceedings
Fannie Mae issued Lender Letter LL-2025-01, updating the time frames within which routine foreclosure proceedings must be completed in 22 jurisdictions. Per the Lender Letter,
May 5, 2025
