FHA issued Mortgagee Letter 2023-23 announcing updated servicing requirements for the Home Equity Conversion Mortgage Program (HECM). Key updates include: Revisions related to aligning post-due
Fannie Mae issued an update to Servicing Guide Announcement SVC-2023-05 (Announcement), setting forth updates to the Servicing Guide. Per the updated Announcement, Fannie Mae removed
Fannie Mae and Freddie Mac issued a Servicing Notice (Notice), announcing a change to the Refinitiv Public Replacement Index (Refinitiv) name. Per the Notice, the
FHA extended a partial waiver of the face-to-face interview requirement for borrowers in default. The partial waiver allows lenders and servicers to utilize alternative methods
VA extended the foreclosure moratorium for borrowers affected by the Maui wildfires. The foreclosure moratorium is extended through May 31, 2024. Click to view the
FHA issued Mortgagee Letter 2023-20 updating the maximum allowable property inspection fees for mortgage servicers. Per the Mortgagee Letter, the new maximum allowable property inspection
FHA published an update to the Single Family Housing Policy Handbook (SF Handbook 4000.1) to add new sections applicable to Home Equity Conversion Mortgages (HECMs).
Fannie Mae issued Lender Letter LL-2023-04 and Freddie Mac issued Bulletin 2023-21, announcing new relief measures for a loan impacted by a COVID-19 Forbearance. Per
California passed a bill authorizing online notarizations and establishing requirements for the performance of online notarizations. An online notarization is a notarial act performed 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
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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