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).
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
