Colorado passed a bill amending the due and payable requirements for reverse mortgage loans with respect to a natural disaster or force majeure. Under the
Florida passed a bill enacting collateral protection insurance (force placed insurance) requirements. The bill enacts requirements with respect to the placement of collateral protection insurance,
Vermont passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power of Attorney
Nevada passed a bill authorizing mortgage employees to work at remote locations. Under the bill, a mortgage company licensed under the Mortgage Company and Loan
Rhode Island passed a bill repealing the sunset date of the Foreclosure Mediation Program. The sunset date was previously set for July 1, 2023. Click
New Hampshire passed a bill revising the interest rate paid on funds held in escrow. Under the bill, lenders and servicers must pay interest on
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
Maryland passed a bill amending the Maryland Mortgage Lender Law (MMLL). Under the bill, a mortgage lender, broker and servicer licensed under the MMLL must
Florida passed a bill permitting loan originators to work at remote locations. Under the bill, a mortgage lender, broker, or servicer licensed under the Mortgage
Montana passed a bill revising the Montana Mortgage Act (MMA). The bill revised the MMA to allow remote work for a mortgage business, clarify reporting
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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