Washington Amends Foreclosure Laws
July 19, 2023
Washington passed a bill amending the state’s foreclosure laws. Under the bill, Washington’s foreclosure mediation program was amended to extend the time an attorney or
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FHA Updates Requirements Related to HECM Borrower Payments Due to Lender or Servicer Default
July 17, 2023
FHA issued Mortgagee Letter 2023-15 updating requirements related to HECM borrower payments due to mortgagee default. Per the Mortgagee Letter, FHA changed the process FHA
Fannie Mae Issues Servicing Guide Announcement SVC-2023-04
July 17, 2023
Fannie Mae issued Servicing Guide Announcement SVC-2023-04 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae: Revisions related to release or
Freddie Mac Issues Bulletin 2023-14: Servicing Updates
June 15, 2023
Freddie Mac issued Bulletin 2023-14 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to Resolve are effective August
VA Clarifies Assumption Procedures and Republishes Assumption Stacking Orders
May 26, 2023
VA issued Circular 26-23-10 (Circular), clarifying assumption procedures and republishing assumption stacking orders. Per the Circular, VA clarified assumption procedures and republished the stacking order
FHA Clarifies Loss Mitigation Options for Non-Borrowers Who Acquired Title Through an Exempted Transfer
May 22, 2023
FHA issued Mortgagee Letter 2023-11 clarifying loss mitigation options for non-borrowers who acquire title through a transfer that exempts the borrower’s mortgage from being called
FHA Modifies Home Equity Conversion Mortgage Assignment Claim Type 22 Submission Criteria and Documentation Requirements
May 22, 2023
FHA issued Mortgagee Letter 2023-10 modifying Home Equity Conversion Mortgage (HECM) Assignment Claim Type 22 submission criteria and documentation requirements. Per the Mortgagee Letter, FHA:
Fannie Mae Issues Servicing Guide Announcement SVC-2023-03
May 22, 2023
Fannie Mae issued Servicing Guide Announcement SVC-2023-03 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae: In addition, Fannie Mae updated
FHA Implements Provisions of Adjustable Rate Mortgages: Transitioning from London Interbank Offered Rate to Alternative Indices Rule Adoption
May 4, 2023
FHA issued Mortgagee Letter 2023-09, implementing the provisions of the Adjustable Rate Mortgages (ARMS): Transitioning from London Interbank Offered Rate (LIBOR) to Alternative Indices rule
VA Extends Borrower Request Date for COVID-19 Related Forbearances
April 28, 2023
VA issued Circular 26-23-08 to extend the date through which a borrower can request a COVID-19 related forbearance. Per the Circular, VA extended the period
