FHA issued Mortgagee Letter 2024-25 extending the foreclosure moratorium for properties located in Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia affected by Hurricanes
FHA issued Mortgagee Letter 2024-24 modernizing requirements for a loss mitigation consultation with borrowers in default. On August 2, 2024, FHA adopted a rule modifying
Texas repealed and readopted rules governing mortgage lenders, brokers, loan originators and servicers licensed or registered under the Residential Mortgage Loan Company Licensing and Registration
FHA extended the compliance date for portions of the Modernization of Engagement with Mortgagors in Default Final Rule. In August, 2024, FHA adopted the Modernization
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.
California passed a bill amending several of the state’s foreclosure laws under the nonjudicial foreclosure process. Under the bill, a foreclosure sale must be postponed
Oklahoma passed a bill amending the Secure and Fair Enforcement for Mortgage Licensing Act (SFEMLA). Under the bill, a mortgage lender, broker, and servicer renewing
Illinois passed a bill permitting foreclosure sales to be held in person, online, or both. Under the bill, a sheriff or other person selected by
Freddie Mac issued Bulletin 2024-14 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to Resolve are effective December
Fannie Mae issued an update to Lender Letter LL-2024-02 to clarify that, when determining the final Fannie Mae Flex Modification terms, the servicer must use
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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