Nebraska Amends Residential Mortgage Licensing Act
May 9, 2024
Nebraska passed a bill amending the Residential Mortgage Licensing Act (RMLA). Under the bill, a lender and broker licensed under the RMLA must provide notice
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VA Creates Form 26-10291, Assumption Entitlement Acknowledgement
May 3, 2024
VA issued Circular 26-24-09 announcing the creation of Form 26-10291 (Assumption Entitlement Acknowledgement). Per the Circular, VA created Form 26-10291 to increase awareness related to
FHA Updates Reconsideration of Value Policy
May 2, 2024
FHA issued Mortgagee Letter 2024-07, updating FHA’s reconsideration of value policy (ROV). Per the Mortgagee Letter (ML), FHA: The provisions of this ML are effective
VA Offers 40-Year Loan Modification Option
April 26, 2024
VA issued Circular 26-24-08 to offer a 40-Year Loan Modification option to assist borrowers in reaching an affordable payment in the current environment of rising
Freddie Mac Issues Bulletin 2024-05: Servicing Updates
April 12, 2024
Freddie Mac issued Bulletin 2024-05 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac updated Exhibit 93 (Evaluation Notices) to remove
VA Revises Chapter 9 of Servicer’s Handbook (M26-4)
April 12, 2024
VA revised chapter 9 of the Servicer’s Handbook (M26-4). Chapter 9 was retitled from “Refunds” to “VA Purchase”. Sections 9.01 and 9.02 were also updated
Iowa Authorizes Employees to Work at Remote Locations
April 12, 2024
Iowa passed a bill authorizing employees to work at remote locations. Under the bill, a mortgage lender, broker, or servicer licensed under the Mortgage Bankers
FHA Extends Partial Waiver of Face-to-Face Interview Requirement for Borrowers in Default
April 10, 2024
FHA extended a partial waiver of the face-to-face interview requirement for borrowers in default. The partial waiver allows lenders and servicers to utilize alternative methods
West Virginia Amends Residential Mortgage Lender, Broker and Servicer Act, and SAFE Mortgage Licensing Act
March 29, 2024
West Virginia passed a bill amending the Residential Mortgage Lender, Broker and Servicer Act (RMLBSA) and the SAFE Mortgage Licensing Act (SMLA). The bill amended
New Jersey Amends Notice of Intention to Foreclose Delivery Requirements
March 29, 2024
New Jersey passed a bill amending delivery requirements with respect to a notice of intention to foreclose mortgage lenders and servicers are required to provide
