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).
FHA
FHA Waives Early Payment Default Review Requirements for Properties Impacted by California Wildfires
FHA issued a waiver regarding early payment default review requirements for properties impacted by the California wildfires. FHA currently requires lenders to select all early
April 2, 2025
