Wyoming Enacts Uniform Power of Attorney Act
March 9, 2017
Wyoming passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power of Attorney
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Wyoming Division of Banking Amends License Fees under Uniform Consumer Credit Code
March 7, 2017
The Wyoming Division of Banking adopted rules amending license fees under the Uniform Consumer Credit Code. Under the adopted rules, the initial processing fee for
Fannie Mae Issues Selling Guide Announcement SEL-2017-02
March 4, 2017
Fannie Mae issued Selling Guide Announcement SEL-2017-02, setting forth updates to the Selling Guide. Under the updated Selling Guide, a borrower is no longer required
Virginia Amends Provisions Regarding Foreclosed Residential Rental Property
March 4, 2017
Virginia passed a bill amending provisions regarding foreclosed residential rental property. Under the bill, the foreclosure of residential rental property terminates the tenant’s rental agreement.
New York Department of Financial Services Requires Financial Services Institutions to Maintain Cybersecurity Program
February 23, 2017
The New York Department of Financial Services (DFS) adopted rules requiring financial services institutions regulated by the DFS to maintain a cybersecurity program. Under the
Freddie Mac Issues Bulletin 2017-1: Servicing Updates
February 16, 2017
Freddie Mac issued Bulletin 2017-1 (Bulletin), announcing revisions to Freddie Mac’s servicing requirements. Under the Bulletin, servicing requirements are revised with respect to: tax transcript
Fannie Mae Issues Servicing Guide Announcement SVC-2017-02
February 16, 2017
Fannie Mae issued Servicing Guide Announcement SVC-2017-02 (Announcement), setting forth updates to the Servicing Guide. As outlined in the Announcement, the Servicing Guide has been
VA Issues Circular 26-17-04: Special Relief Following Severe Storms and Tornadoes in Georgia and Mississippi
February 15, 2017
VA issued Circular 26-17-04, describing measures mortgagees may employ to provide relief to home loan borrowers affected by severe storms and tornadoes in Georgia and
VA Increases Maximum Allowable Bankruptcy Attorney Fees
February 9, 2017
VA increased the maximum allowable bankruptcy attorney fees for legal services performed on a servicer’s behalf. VA will now allow attorney fees of $1050 (Chapter
Nevada Amends Mortgage Broker Act Rules
February 9, 2017
Nevada adopted rules amending requirements under the Mortgage Broker Act. Under the adopted rules, mortgage brokers that service Nevada mortgage loans made or arranged by
