Fannie Mae issued Servicing Guide Announcement SVC-2017-03, setting forth updates to the Servicing Guide. As outlined in the Announcement, the Servicing Guide has been updated
Utah passed a bill clarifying the timing requirement under the Utah Residential Mortgage Practices and Licensing Act for submitting a quarterly report of condition. Under
Fannie Mae issued Selling Guide Announcement SEL-2017-03, setting forth updates to the Selling Guide. Under the updated Selling Guide, a lender may obtain a verification
Arkansas passed a bill requiring mortgage servicers licensed under the Fair Mortgage Lending Act (FMLA) to provide notice to a borrower upon accepting assignment of
Idaho passed a bill enacting the Revised Uniform Law on Notarial Acts. The Revised Uniform Law on Notarial Acts is modeled upon the Revised Uniform
FHA issued Mortgagee Letter 2017-08, announcing the implementation date of FHA’s new Loan Review System. The implementation date of the new Loan Review System (announced
Freddie Mac issued Bulletin 2017-3 (Bulletin), announcing collateral representation and warranty relief for eligible mortgages. In accordance with the Bulletin, Freddie Mac will not, with
Freddie Mac issued Bulletin 2017-2 (Bulletin), announcing revisions to Freddie Mac’s origination requirements. In accordance with the Bulletin, Loan Product Advisor has been enhanced to
Over 25,000 mortgage servicing QC audit findings consisting of 1,500 separate and unique audit exceptions were cited during the fourth quarter of 2016. That data
To identify mortgage production Quality Control audit exceptions that occur frequently, TENA analyzed the audit results from thousands of Production QC audits that it completed
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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