Rhode Island passed a bill enacting lender-placed insurance provisions. The bill enacts lender-placed insurance provisions with respect to the term of the insurance policy, the calculation of coverage and payment premiums, prohibited practices, and evidence of coverage. The bill went into effect June 30, 2022.
Click to view the Rhode Island House Bill 7752: https://www.tenaco.com/wp-content/uploads/2022/07/RI-HB-7752-07-13-22.pdf
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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.
FHA issued Mortgagee Letter 2024-20 implementing Federal Flood Risk Management Standards for new construction properties located in Special Flood Hazard Areas. On April 23, 2024,
Fannie Mae issued Selling Guide Announcement SEL-2024-07 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to leasehold estates
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