HUD Issues Mortgagee Letter 2016-10
July 14, 2016
HUD issued Mortgagee Letter 2016-10. Under the Mortgagee Letter, the compounding interest rate (commonly referred to as the growth rate) used when calculating the servicing
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Freddie Mac Issues Guide Bulletin 2016-13
July 14, 2016
Freddie Mac issued Guide Bulletin 2016-13 (Bulletin). The Bulletin: provides servicers additional flexibility when filing for relief from the automatic stay of bankruptcy; removes the
Fannie Mae Issues Servicing Guide Announcement SVC-2016-06
July 14, 2016
Fannie Mae issued Servicing Guide Announcement SVC-2016-06 (Announcement). The Announcement: establishes servicer responsibility for monitoring a post- foreclosure bankruptcy attorney (based on the timing of
Fannie Mae Updates Area Median Incomes used to Determine Borrower Eligibility for HomeReady Mortgage Loans
July 14, 2016
Fannie Mae updated the area median incomes used to determine a borrower’s eligibility for HomeReady mortgage loans. The 2016 HomeReady income limits will be available
Hawaii Amends Secure and Fair Enforcement for Mortgage Licensing Act and Mortgage Servicers Act
July 7, 2016
Hawaii Amends Secure and Fair Enforcement for Mortgage Licensing Act and Mortgage Servicers Act Hawaii passed a bill amending the Secure and Fair Enforcement for
FHA Updates Single Family Housing Policy Handbook 4000.1
July 7, 2016
The Federal Housing Administration (FHA) published updates to its Single Family Housing Policy Handbook 4000.1 (SF Handbook), and launched a number of updated training and
VA Updates Circular 26-14-36
July 7, 2016
VA updated Circular 26-14-36 (Circular). Under the updated Circular, credit report invoice requirements announced on the original Circular 26-14-36 are clarified, the term“HUD-1” on the
VA Issues Circular 26-16-17
July 7, 2016
VA issued Circular 26-16-17 (Circular). The Circular describes measures mortgagees may employ to provide relief to home loan borrowers affected by severe storms, flooding, landslides
Georgia Repeals Mortgage Broker Experience and Education Requirements
June 30, 2016
Georgia adopted rules repealing the mortgage broker experience and education requirements under the Residential Mortgage Act (RMA). Under the adopted rules, an applicant for a
Colorado Enacts Release of Lien Requirements with respect to Lines of Credit
June 30, 2016
Colorado passed a bill enacting release of lien requirements with respect to lines of credit. Under the bill, if a line of credit is secured
