Freddie Mac issued an industry letter prohibiting the use of seller gifts and grants as eligible sources of funds for Home Possible Mortgages. Currently gifts
FHA allows the electronic filing of claims for Claims Without Conveyance of Title procedure. Servicers filing claims related to FHA’s Claims Without Conveyance of Title
South Carolina passed a bill clarifying the location of the boundary between North Carolina and South Carolina and enacting additional foreclosure notice requirements for properties
Freddie Mac Issued Bulletin 2016-17 (Bulletin). The Bulletin: updates Freddie Mac’s State foreclosure timelines; updates reimbursement requirements for attorney fees and costs when a nonjudicial
Fannie Mae issued Servicing Guide Announcement SVC-2016-08 (Announcement). The Announcement: updates the Foreclosure Time Frames and Compensatory Fee Allowable Delays exhibit; amends the Servicing Guide
Fannie Mae issued Reverse Mortgage Servicing Announcement RVS-2016-01 (Announcement). The Announcement updates the Reverse Mortgage Loan Servicing Manual to no longer require that, for HECMs,
VA issued Circular 26-16-24 (Circular). The Circular provides clarification of the documents required to properly provide clear and marketable title for mobile homes conveyed to
Massachusetts adopted rules amending the Mortgage Lender and Broker Laws (MLBL). Under the adopted rules: the exemption status for subsidiaries and affiliates of depository institutions
Texas adopted rules amending the Secondary Mortgage Loan Act. The adopted rules: require applicants for a lender or broker license to pay a fee for
Fannie Mae issued Selling Guide Announcement SEL-2016-07 (Announcement). The Announcement: incorporates references to the impasse, management escalation, and independent dispute resolution processes available to lenders;
FHA issued Mortgagee Letter 2025-01, updating Defect Taxonomy to include Servicing Loan Reviews. Per the Mortgagee Letter (ML), FHA updated the Single Family Housing Policy
RHS adopted rules amending manufactured housing provisions under the Single Family Housing Guaranteed Loan Program. The adopted rules: The final rule is effective March 4,
New York passed a bill amending breach of security notification timing requirements. Under the bill, notice of a breach of security must be provided to
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