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 updated Lender Letter LL-2021-02 to announce temporary guidance related to foreclosure actions and the Homeowner Assistance Fund (HAF). Per the updated Lender Letter,
Idaho passed a bill requiring junior lienholder’s to provide a “notice of liability” to borrower’s in default, in the event the senior mortgage is foreclosed
FHA issued Mortgagee Letter 2022-06, updating policy regarding reimbursement for property preservation and protection cost claims. Per the Mortgagee Letter, HUD will only reimburse mortgagees
Indiana passed a bill modifying timing requirements with respect to the notification of a data breach. Under the bill, persons that own or license computerized
Indiana passed a bill permitting electronic foreclosure sales. Under the bill, a sheriff may now conduct a foreclosure sale electronically (in addition to conducting a
New York passed a bill amending the single point of contact requirement for borrowers pursuing a loan modification or other foreclosure prevention alternative in connection
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
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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