VA issued Circular 26-23-10, Change 1, providing additional information regarding fees that may be charged to and paid by a person assuming a VA-guaranteed loan
VA issued Circular 26-24-05 authorizing in advance, as a local variance, an Assumption Locality Variance charge (Variance). Per the Circular, a lender may charge an
FHA issued Mortgagee Letter 2024-02, establishing the Payment Supplement loss mitigation option. Per the Mortgagee Letter (ML), the Payment Supplement loss mitigation option combines a
Q4 2023 | TENA Mortgage Servicing QC Notable Audit Findings This summary represents an analysis of Servicing Quality Control data from servicing life events analyzed
RHS issued a waiver (under the Single Family Housing Guaranteed Loan Program) allowing servicers to remove the 55% debt-to-income ratio and 31% housing ratio limitations
Freddie Mac issued Bulletin 2024-02 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac added specificity regarding a lender’s responsibility to
VA issued Circular 26-24-02 amending COVID-19 Home Retention Waterfall and COVID-19 Refund Modification requirements. Per the Circular, VA included a 40-year repayment term for a
South Dakota passed a bill increasing the amount consumers may be charged for dishonored checks. Consumers may now be charged up to $60 for a
New Jersey passed a bill amending foreclosure provisions with respect to residential properties (1-to 4-family property used as a primary residence). Under the bill, a
Fannie Mae issued a Servicing Notice (Notice), updating the Legacy LIBOR Replacement Index Servicing Notice to reflect the new naming convention for the rebranding from
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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