South Carolina passed a bill amending the Licensing of Mortgage Brokers Act (LMBA). The amendments to the LMBA: remove the requirement that mortgage brokers maintain
South Carolina passed a bill amending the Mortgage Lending Act (MLA). The amendments to the MLA: add a definition for “loan correspondent”; revise licensing requirements
New Jersey passed a bill requiring Servicers to respond to short sale offers. Under the bill, a servicer must respond to a short sale offer
To identify mortgage origination Quality Control audit exceptions that occur frequently, TENA analyzed the audit results from thousands of Origination QC audits that it completed
Fannie Mae issued Lender Letter 2017-05, announcing a new high loan-to-value (LTV) refinance program. The new high LTV refinance program is designed for borrowers who
Delaware passed a bill requiring a mortgagee or assignee to record a Statement of Mortgage Address Change when there is a change to the mortgagee
Freddie Mac issued Bulletin 2017-20 (Bulletin), announcing revisions to the Single-Family Seller/Servicer Guide. As outlined in the Bulletin, Freddie Mac amended requirements with respect to
Fannie Mae issued Servicing Guide Announcement SVC-2017-07 (Announcement), setting forth updates to the Servicing Guide. As outlined in the Announcement, Fannie Mae redesigned and renamed
Fannie Mae issued Lender Letter LL-2017-06, announcing additional clarifications for mortgage loans impacted by Hurricanes Harvey and Irma. The Lender Letter contains both selling and
Freddie Mac issued Guide Bulletin 2017-18 (Bulletin), setting forth servicing updates to the Single-Family Seller/Servicer Guide. As outlined in the Bulletin, Freddie Mac amended requirements
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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