Freddie Mac issued Guide Bulletin 2016-10 (Bulletin). Under the Bulletin, requirements related to the expiration of HAMP are updated. The Bulletin also extends the mandatory effective date for lender-placed insurance (LPI) deductibles for servicers that use American Modern Insurance Group (AMIG) as their LPI provider. The revised effective date is July 1, 2017. In addition, the Bulletin requires servicers to use IRS Form 1099-C when reporting a cancellation of debt in connection with a short sale (rather than IRS Form 1099-A).
CFPB
CFPB Amends Fair Credit Reporting Act with respect to Medical Information
The CFPB adopted rules amending the Fair Credit Reporting Act (FCRA) with respect to medical information. Per the rule adoption, the CFPB removed an exception
January 16, 2025
