FHA issued Mortgagee Letter 2023-15 updating requirements related to HECM borrower payments due to mortgagee default. Per the Mortgagee Letter, FHA changed the process FHA
FHA issued Mortgagee Letter 2018-08, updating guidance on Home Equity Conversion Mortgage (HECM) Claim Type 22 assignment requests. The Mortgagee Letter outlines the documentation and
FHA extended the HECM foreclosure moratorium for properties located in Puerto Rico and the Virgin Islands affected by Hurricane Maria. The foreclosure moratorium is extended
FHA extended the HECM foreclosure moratorium for properties located in Puerto Rico and the Virgin Islands affected by Hurricane Maria. The foreclosure moratorium is extended
FHA issued Mortgagee Letter 2017-11 (Mortgagee Letter), which serves as a consolidated directive for lenders and servicers required to implement certain servicing policy changes contained
FHA adopted rules amending the Home Equity Conversion Mortgage (HECM) program. The adopted rules: implement statutory changes; codify policies previously implemented by Mortgagee Letters under
FHA issued Mortgagee Letter 2017-05, consolidating and updating policy regarding the submission of Home Equity Conversion Mortgage (HECM) Claim Type 22 assignment requests. The Mortgagee
FHA increased the home equity conversion mortgage (HECM) limits for 2017. The maximum claim amount for FHA-insured HECMs in 2017 will be $636,150 (an increase
HUD issued Mortgagee Letter 2016-10. Under the Mortgagee Letter, the compounding interest rate (commonly referred to as the growth rate) used when calculating the servicing
HUD issued Mortgagee Letter 2016-07. This Mortgagee Letter provides mortgagees with an optional extension to submitting a Due and Payable request where borrowers are behind
Fannie Mae issued Servicing Guide Announcement SVC-2025-01 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae introduced new cybersecurity requirements for
Freddie Mac issued Bulletin 2025-2 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to the portfolio reconciliation requirement
New York passed a bill amending recently enacted flood insurance requirements and restrictions for mortgage lenders and servicers. In December, 2024, New York passed a
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