FHA increased the home equity conversion mortgage (HECM) limits for 2017. The maximum claim amount for FHA-insured HECMs in 2017 will be $636,150 (an increase
VA announced the county loan limits for 2017. The 2017 effective county loan limits are posted at: http://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp. The 2017 county loan limits do NOT
Freddie Mac issued Bulletin 2016-21 (Bulletin) updating servicing requirements. The Bulletin: provides lenders and servicers 15 business days to submit required data when settling a
Fannie Mae announced that it will no longer charge a fee to exercise a property inspection waiver (PIW). The process for exercising a PIW offer
Fannie Mae and Freddie Mac increased the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2017. The 2017 maximum
Freddie Mac Issued Bulletin 2016-20 (Bulletin) updating the Selling Guide. The Bulletin: establishes property eligibility requirements, and updates underwriting requirements, with respect to loans secured
Fannie Mae issued Reverse Mortgage Servicing Announcement RVS-2016-02 (Announcement). The Announcement updates the Reverse Mortgage Loan Servicing Manual to require a servicer to submit its
Fannie Mae issued Servicing Guide Announcement SVC-2016-10 (Announcement). The Announcement: updates deadlines for submitting expense reimbursement requests; establishes additional property preservation repair descriptions and expense
Fannie Mae recently introduced Desktop Underwriter (DU) Validation, a service that impacts various Quality Control requirements. For lenders that opt-in to the new DU validation
FHA issued Mortgagee Letter 2016-17 announcing an address change for FHA’s National Servicing Center branch, located in Tulsa, Oklahoma. Lenders and servicers must use the
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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