Fannie Mae updated Lender Letter LL-2021-07 to update escrow analysis requirements. Per the updated Lender Letter, Fannie Mae clarified that servicers must spread any escrow
FHA issued Mortgagee Letter 2022-07, adding a 40-year loan modification with partial claim as a COVID-19 Recovery Loss Mitigation Option (COVID-19 Recovery Option). Per the
Maine passed a bill enacting the Revised Uniform Law on Notarial Acts. The Revised Uniform Law on Notarial Acts is modeled upon the Revised Uniform
Fannie Mae issued Servicing Guide Announcement SVC-2022-02 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to the
Kentucky passed a bill allowing employees to work at alternate work locations. Under the bill, a mortgage loan company or loan broker licensed under the
Kansas passed a bill allowing mortgage business at remote locations. Under the bill, a mortgage company licensed under the Mortgage Business Act (MBA) may conduct
Tennessee passed a bill allowing employees to work at remote locations. Under the bill, a mortgage lender, broker or servicer licensed under the Residential Lending,
Freddie Mac issued Bulletin 2022-9 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: clarified temporary guidance on mortgage assistance through
Colorado passed a bill increasing the amount of the state’s homestead exemption. Under the bill, the homestead exemption is increased to $250,000 (rather than $75,000)
Freddie Mac issued Bulletin 2022-8 (Bulletin) announcing temporary guidance related to foreclosure actions and the Homeowner Assistance Fund (HAF). Per the Bulletin, servicers must suspend
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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