VA Revises Topic 3 of Chapter 6 of Lender’s Handbook (M26-7)
November 1, 2024
VA revised Topic 3 of chapter 6 the Lender’s Handbook (M26-7). Topic 3 of chapter 6 was revised due to a 2018 rule adoption that
California Amends Foreclosure Laws Under Nonjudical Foreclosure Process
October 29, 2024
California passed a bill amending several of the state’s foreclosure laws under the nonjudicial foreclosure process. Under the bill, a foreclosure sale must be postponed
Oklahoma Amends Secure and Fair Enforcement for Mortgage Licensing Act
October 29, 2024
Oklahoma passed a bill amending the Secure and Fair Enforcement for Mortgage Licensing Act (SFEMLA). Under the bill, a mortgage lender, broker, and servicer renewing
FHA Temporarily Waives Separate 14-Day Damage Inspection Waiting Requirement for Properties in Overlapping Presidentially-Declared Major Disaster Areas Due to Hurricanes Helene and Milton
October 22, 2024
FHA issued a temporary policy waiver waiving the need for separate 14-day waiting periods for inspection and damage reports for properties in overlapping Presidentially-Declared Major
FHA Temporarily Waives 15 Day Occupancy Provision for Limited 203(k) Loans Secured by Properties Affected by Hurricanes Helene and Milton
October 22, 2024
FHA issued a temporary policy waiver waiving the 15 day occupancy provision for Limited 203(k) loans secured by properties in Presidentially-Declared Major Disaster Areas (PDMDAs)
Freddie Mac Issues Bulletin 2024-13: Selling Updates
October 9, 2024
Freddie Mac issued Bulletin 2024-13 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: In addition, Freddie Mac updated Exhibit 48
FHA Amends Housing Counseling Agency Communication Methods
September 20, 2024
FHA adopted a rule amending housing counseling agency communication methods. Per the rule adoption, participating agencies may provide housing counseling services at a facility or
VA Clarifies Documentation Requirements Related to Supporting Itemized Fees and Charges to Borrowers
September 17, 2024
VA issued Circular 26-24-19, clarifying documentation requirements related to supporting itemized fees and charges to the borrower (or assumer). Per the Circular, reasonable and customary
Freddie Mac Issues Bulletin 2024-12: Selling Updates
September 6, 2024
Freddie Mac issued Bulletin 2024-12 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to fraud and suspicious activity
Fannie Mae Issues Selling Guide Announcement SEL-2024-06
September 6, 2024
Fannie Mae issued Selling Guide Announcement SEL-2024-06 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae updated appraisal policies as follows:
