VA Extends Rescission Date of Circular 26-14-22
December 28, 2016
VA extended the rescission date of Circular 26-14-22. The rescission date of Circular 26-14-22 has been extended to October 1, 2017. Click here to view
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CFPB Announces Asset-Size Exemption Thresholds Under the Truth-in-Lending Act
December 22, 2016
The CFPB announced the asset-size exemption threshold for creditors under the Truth-in-Lending Act (TILA). The asset-size exemption threshold pertains to TILA’s higher-priced mortgage loan escrow
CFPB Announces Asset-Size Exemption Thresholds Under the Home Mortgage Disclosure Act
December 22, 2016
The CFPB announced the asset-size exemption thresholds for depository institutions under the Home Mortgage Disclosure Act (HMDA). For 2017, the exemption threshold will remain at
New Jersey Amends Home Ownership Security Act of 2002
December 22, 2016
The New Jersey Department of Banking and Insurance (Department) issued a bulletin amending the definition of a “high-cost home loan” under the Home Ownership Security
Freddie Mac Issues Bulletin 2016-23: Selling Guide Updates
December 22, 2016
Freddie Mac issued Bulletin 2016-23 (Bulletin), updating the Selling Guide. This Bulletin: revises requirements with respect to assets, including down payment, closing costs and reserves;
Freddie Mac Introduces New Mortgage Loan Modification Program
December 15, 2016
Freddie Mac issued Guide Bulletin 2016-22 (Bulletin), introducing a new mortgage loan modification program. The Freddie Mac Flex Modification is designed as an affordable modification
Fannie Mae Introduces New Mortgage Loan Modification Program
December 15, 2016
Fannie Mae issued Lender Letter LL-2016-06 (Lender Letter), introducing a new mortgage loan modification program. The Fannie Mae Flex Modification combines features of Fannie Mae’s
Fannie Mae Issues Servicing Guide Announcement SVC-2016-11
December 15, 2016
Fannie Mae issued Servicing Guide Announcement SVC-2016-11 (Announcement). The Announcement sets forth several updates to the Servicing Guide. The Servicing Guide updates provide alternatives to
FHA Amends Timeframe for Conducting Pre-Endorsement Mortgage Reviews for Unconditional Direct Endorsement Authority
December 15, 2016
FHA issued Mortgagee Letter 2016-21, amending the timeframe for conducting a pre-endorsement mortgage review during the test case phase of the Direct Endorsement Unconditional Authority
VA Revises Servicer Handbook (M26-4)
December 15, 2016
VA revised chapters 4, 5, 7, 8, 9, 10, 11, 12, 14, 15 and Appendix B, E, G and H of the Servicer Handbook (M26-4).
