New York passed a bill enacting provisions with respect to reverse cooperative apartment unit loans. The provisions apply to reverse mortgage loans secured by a
Indiana adopted a rule increasing the amount of the state’s homestead exemption. Per the rule adoption, the homestead exemption was increased to $22,750 (rather than
FHA issued Mortgagee Letter 2022-04, extending the mandatory use date for the new FHA Catalyst: Electronic Appraisal Delivery (EAD) Module. Per the Mortgagee Letter, mortgagees
FHA issued Mortgagee Letter 2022-02, clarifying the extension of the deadlines for the first legal action and reasonable diligence time frame announced in Mortgagee Letter
Fannie Mae issued Servicing Guide Announcement SVC-2022-01 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae: Revised Fannie Mae Short Sale
Freddie Mac issued Bulletin 2022-4 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Introduced “Total MI Reconciliations”, a new suite
New Jersey passed a bill enacting foreclosed property registration program provisions. Under the bill, a municipality may adopt ordinances to create a property registration program
New York passed a bill authorizing electronic notarizations and establishing requirements for the performance of electronic notarizations. An electronic notarization is a notarial act performed
Louisiana adopted a rule authorizing remote online notarizations and establishing requirements for the performance of remote online notarizations. A remote online notarization is a notarial
New Jersey passed a bill expanding certification of diligent inquiry requirements in residential mortgage foreclosure actions. Under the bill, an attorney filing a foreclosure complaint
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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