Mortgage Servicing Quality Control Notable Audit Findings: July – September 2017 Over 20,000 mortgage servicing Quality Control audit findings involving of over 1,700 separate and unique
Ginnie Mae issued All Participant Memorandum APM 17-06 (APM), announcing revised seasoning requirements for refinance loans. Per the APM, the first payment due date of
The Pennsylvania Department of Banking and Securities issued a bulletin increasing the residential mortgage threshold under the Loan Interest and Protection Law (LIPL). Under the
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
Freddie Mac issued Guide Bulletin 2017-27 (Bulletin), setting forth servicing updates to the Single-Family Seller/Servicer Guide. In a previous Bulletin (Bulletin 2017-22), Freddie Mac announced
Freddie Mac issued Bulletin 2017-29 (Bulletin), extending the suspension of foreclosure sales involving properties in Puerto Rico and the U.S. Virgin Islands that were impacted
Fannie Mae issued Servicing Guide Announcement SVC-2017-11 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae removed duplicative content from several
Fannie Mae issued Lender Letter LL-2017-11, extending the suspension of foreclosure sales involving properties in Puerto Rico and the U.S. Virgin Islands that were impacted
Ginnie Mae increased the maximum loan amount for high balance loans. In 2018, the maximum loan amount for a high balance loan secured by a
FHA issued Mortgagee Letter 2017-18, setting forth revised policies for insuring mortgages secured by 1- to 4- family properties encumbered with Property Assessed Clean Energy
Arizona adopted a rule permitting employees (including loan originators) to work at remote locations. Under the adopted rule, a mortgage banker licensed under the Mortgage
FHA issued a temporary partial regulatory waiver waiving the recently increased base flood elevation requirement for certain newly constructed properties. On April 23, 2024 FHA
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
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