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).
VA Extends Rescission Date of Circular 26-13-13
December 15, 2016
VA extended the rescission date of Circular 26-13-13. The rescission date of Circular 26-13-13 has been extended to January 1, 2019. Click here to view
FHA Issues Correction to Mortgagee Letter 2016-20: 2017 Nationwide Forward Mortgage Limits
December 12, 2016
FHA issued a correction to Mortgagee Letter 2016-20 regarding the 2017 nationwide forward mortgage limits. Mortgagee Letter 2016-20 referenced an incorrect limit ceiling for Alaska,
FHA Extends Implementation Date of Mortgagee Letter 2016-14: Updates to FHA’s Loss Mitigation Retention Options and Miscellaneous Mortgage Servicing Policy
December 8, 2016
FHA issued Mortgagee Letter 2016-22 extending the implementation date of Mortgagee Letter 2016-14 (regarding updates to FHA’s loss mitigation retention options and other miscellaneous mortgage
FHA Revises Maximum Allowable Processing Fee for Assumptions
December 8, 2016
FHA issued Mortgagee Letter 2016-24 revising the maximum allowable processing fee for assumptions. The processing fee for an assumption must be reasonable and customary, but
Fannie Mae Issues Selling Guide Announcement SEL-2016-09
December 8, 2016
Fannie Mae issued Selling Guide Announcement SEL-2016-09 (Announcement). The Announcement: expands the optional Desktop Underwriter (DU) validation service to include validation services for assets and
VA Increases Maximum Allowable Liquidation Appraisal Fee in 17 States
December 8, 2016
VA increased the maximum allowable liquidation appraisal fee in 17 states. The appraisal fees increased for the following states: Arizona; California; Connecticut; Delaware; Indiana; Maine;
Vermont Announces Declared Rate for 2017
December 8, 2016
Vermont issued a memorandum announcing that the Declared Rate for 2017 will remain at 3.6%. The Declared Rate is used to determine whether a loan
FHA Announces Forward Mortgage Loan Limits for 2017
December 5, 2016
FHA announced the forward mortgage loan limits for 2017. The 2017 “floor” and “ceiling” loan limits for a one-unit property are increased to $275,665 and
FHA Increases Home Equity Conversion Mortgage (HECM) Limits for 2017
December 5, 2016
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
