Alaska passed a bill permitting depository institutions to voluntarily register with the Department of Commerce, Community, and Economic Development (Department) for purposes of sponsoring mortgage
New Hampshire passed a bill repealing the Mortgage Servicing Companies Act (MSCA) and repealing and reenacting the Nondepository Mortgage Bankers and Brokers Act (NMBBA). Under
VA issued Circular 26-16-23 (Circular). The Circular describes measures mortgagees may employ to provide relief to home loan borrowers affected by severe storms and flooding
Freddie Mac issued Guide Bulletin 2016-14 (Bulletin). This Bulletin: updates Freddie Mac’s selling representation and warranty framework and the servicing remedies framework (including updates to
Fannie Mae issued Servicing Guide Announcement SVC-2016-07 (Announcement). The Announcement: sets forth the Independent Dispute Resolution (IDR) process for servicing breaches under the remedies framework
FHA adopted regulations revising FHA’s property disposition provisions. The adopted regulations consolidate and reorganize FHA’s property disposition provisions to better reflect industry standards. Specifically, the
VA revised chapters 2, 7, 8 and 15 of the Servicer Handbook (M26-4). Chapter 2 was revised to provide clarification on: the Event Administrator feature;
The Maine Bureau of Consumer Credit Protection and the Bureau of Financial Institutions have repealed and readopted a joint rule regulating alternative mortgage transactions. The
FHA issued Mortgagee Letter 2016-12. The Mortgagee Letter revises the maximum fee that may be charged by an FHA-approved 203(k) consultant for a draw inspection.
Fannie Mae updated the Evaluation Notice Model Clause exhibit and the solicitation letters for the Streamlined Modification and the Streamlined Modification Post Disaster Forbearance. The
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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