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 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
The CFPB issued the 2023 LIBOR Transition Interim Rule updating the CFPB’s 2021 LIBOR Transition Rule. The Interim rule makes changes consistent with the Adjustable
Virginia passed a bill allowing employees to work at remote locations. Under the bill, a mortgage lender or broker licensed under the Mortgage Lender and
Oklahoma passed a bill amending the permissible finance charge under the Uniform Consumer Credit Code. Under the bill, the permissible finance charge a lender may
New Mexico passed a bill amending the Revised Uniform Law on Notarial Acts. Under the bill, a notarial act performed under the authority of a
Utah passed a bill revising the Reverse Mortgage Act. Under the bill, the minimum borrower age requirement and the timing requirement with respect to borrower
Massachusetts passed a bill authorizing remote online notarizations and establishing requirements for the performance of remote online notarizations. A remote online notarization is a notarial
District of Columbia passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power
Fannie Mae issued Servicing Guide Announcement SVC-2023-02 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae: Revisions related to the reporting
Fannie Mae issued Selling Guide Announcement SEL-2025-02 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae is integrating Condo Project Manager
Fannie Mae revised the West Virginia Security Instrument Form (Form 3049). The revision updates paragraph 1 (pertaining to payment of principal, interest, escrow items, prepayment
Freddie Mac issued Bulletin 2025-4 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac introduced the Freddie Mac Income Calculator, designed
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