Fannie Mae announced a newly redesigned Uniform Residential Loan Application (URLA) along with a corresponding standardized Uniform Loan Application Dataset (ULAD) Mapping Document. The redesigned
Alaska passed a bill amending the state’s power of attorney provisions. The amended provisions are modeled upon the Uniform Power of Attorney Act drafted and
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The Maine Bureau of Consumer Credit Protection and the Bureau of Financial Institutions have repealed and readopted a joint rule regulating alternative mortgage transactions.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
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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