Minnesota issued a notice (Notice) increasing the amount of the state’s homestead exemption. Per the Notice, the homestead exemption is increased to $510,000 (previously, $480,000).
VA issued Circular 26-24-12, Change 1, removing one of the exceptions to the targeted foreclosure moratorium announced in the original Circular. Per the original Circular,
Freddie Mac issued Bulletin 2024-08 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to Resolve and the Resolve
Michigan passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power of Attorney
Freddie Mac issued Bulletin 2024-07 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to builder forward commitments are
VA issued Circular 26-24-12 to announce a targeted foreclosure moratorium on VA-guaranteed loans. Per the Circular, servicers are encouraged to implement a targeted foreclosure moratorium
Freddie Mac issued Bulletin 2024-E (Bulletin) and Fannie Mae issued Lender Letter LL-2024-02 (Lender Letter), updating Flex Modification requirements. Per the Bulletin and Lender Letter,
FHA published an update to the Single Family Housing Policy Handbook (SF Handbook 4000.1). The update includes additions, revisions, and various technical edits to Sections
VA revised chapter 5 of the Servicer’s Handbook (M26-4). Sections 5.01, 5.02, 5.03, 5.04, 5.05, 5.07 and 5.10 were updated as follows: The revisions are
Virginia passed a bill amending provisions regarding foreclosed property. Under the bill, a subordinate mortgage lienholder must provide to the trustee and the borrower, at
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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