This Single-Family Seller/Servicer Guide Bulletin: revises certain investor reporting and default management criteria in the Servicer Success Scorecard; requires that all servicers be set up to receive reimbursement of expenses and payment of incentives via ACH credit entries into their commercial checking accounts; provides greater detail related to requesting reimbursement on Mortgages insured by the FHA or guaranteed by the VA or RHS not subject to recourse or indemnification; revises requirements for the modification of a mortgage in a bankruptcy plan; provides additional detail regarding who must execute Guide Form 720 (the Dodd Frank Certification) to be eligible for a HAMP Year Six “Pay for Performance” incentive; revises EDR requirements for mortgages in repayment plans; provides greater detail on the reporting requirements for law firms retained for Freddie Mac Default Legal Matters; and provides further updates and revisions as described in the Additional Guide Updates and Reminders section.
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
