Minnesota issued an interpretive opinion (Opinion) regarding compliance with the maximum interest rate limitations under Minnesota Statute § 47.20(4a)(a) (pertaining to conventional loans). The index
Minnesota passed a bill amending the Minnesota Residential Mortgage Originator and Servicer Licensing Act (MRMOSLA). Under the bill, the MRMOSLA was amended to: The bill
Minnesota issued a notice (Notice) increasing the amount of the state’s homestead exemption. Per the Notice, the homestead exemption is increased to $510,000 (previously, $480,000).
Minnesota passed a bill imposing Net Worth requirements for large mortgage servicers licensed under the Minnesota Residential Mortgage Originator and Servicer Licensing Act. Under the
Minnesota issued a notice (Notice) increasing the amount of the state’s homestead exemption. Per the Notice, the homestead exemption is increased to $480,000 (rather than
Minnesota passed a bill enacting the Revised Uniform Law on Notarial Acts. The Revised Uniform Law on Notarial Acts is modeled upon the Revised Uniform
Fannie Mae issued Servicing Guide Announcement SVC-2016-10 (Announcement). The Announcement: updates deadlines for submitting expense reimbursement requests; establishes additional property preservation repair descriptions and expense
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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