New Jersey Amends High-Cost Home Loan Limit
January 10, 2022
The New Jersey Department of Banking and Insurance issued a bulletin amending the high-cost home loan limit under the Home Ownership Security Act of 2002
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VA Announces Special Relief Following Colorado Wildfires and Straight-Line Winds
January 5, 2022
VA issued Circular 26-22-01 (Circular), describing measures mortgagees may employ to provide relief to Colorado home loan borrowers affected by wildfires and straight-line winds. The
FHA Updates Effective Date for Transition of Single Family Default Monitoring System from FHA Connection to FHA Catalyst
January 3, 2022
FHA issued Mortgagee Letter 2021-31, updating the effective date for the transition of the Single Family Default Monitoring System (SFDMS) from FHA Connection to FHA
VA Extends Suspension of Property Inspection Requirements for COVID-19 Forbearance Cases
December 27, 2021
VA issued Circular 26-21-27 to extend the suspension of property inspection requirements for COVID-19 forbearance cases. On June 8, 2020, VA issued Circular 26-20-21 suspending
VA Extends Suspension of Property Inspection Requirements for COVID-19 Forbearance Cases
December 23, 2021
VA issued Circular 26-21-27 to extend the suspension of property inspection requirements for COVID-19 forbearance cases. On June 8, 2020, VA issued Circular 26-20-21 suspending
VA Announces Special Relief Following Kentucky Severe Storms, Straight-Line Winds, Flooding, and Tornadoes
December 15, 2021
VA issued Circular 26-21-23 (Circular), describing measures mortgagees may employ to provide relief to home loan borrowers affected by severe storms, straight-line winds, flooding, and
CFPB Issues 2021 LIBOR Transition Rule
December 10, 2021
The CFPB issued the 2021 LIBOR Transition rule (Rule) amending the Truth in Lending Act (TILA) to address the sunset of LIBOR (which is expected
Fannie Mae issues Servicing Guide Announcement SVC-2021-08
December 9, 2021
Fannie Mae issued Servicing Guide Announcement SVC-2021-08 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae consolidated property insurance requirements applicable
Freddie Mac Updates Modification Agreement Requirements
December 9, 2021
Freddie Mac issued Bulletin 2021-37 (Bulletin) updating modification agreement requirements. Per the Bulletin, servicers are no longer required to prepare 2 original modification agreements for
FHA Issues Partial Waiver Extending Face-to-Face Interview Requirement for Borrowers in Default
December 2, 2021
FHA issued a partial waiver extending the face-to-face interview requirement for borrowers in default. The partial waiver allows lenders and servicers to continue to utilize
