Illinois passed a bill permitting foreclosure sales to be held in person, online, or both. Under the bill, a sheriff or other person selected by
Illinois passed a bill allowing mortgage loan originators to work from a remote location. Under the bill, a mortgage lender, broker, servicer, or purchaser licensed
Illinois passed a bill repealing the requirement that the Notice of Foreclosure be sent to the municipality in which the foreclosed property is located, or
Illinois amended rules under the Residential Mortgage Licensing Act (RMLA). Under the amended rules, mortgage lenders, brokers, servicers and purchasers must now file and maintain
Illinois passed a bill requiring lenders and servicers licensed under the Residential Mortgage License Act to accept certain arrearage payments offered by a borrower in
Illinois passed a bill extending the sunset date of the additional Foreclosure Prevention Program Fund and Abandoned Residential Property Municipality Relief Fund fee. Currently, a
Fannie Mae issued Servicing Guide Announcement SVC-2016-04 (Announcement). This Announcement: establishes new proration requirements for allowable foreclosure fees in the event a foreclosure is interrupted
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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