West Virginia passed a bill permitting the collection of interest on a loan during the rescission period (when a right of rescission applies under the
Kansas passed a bill amending the Mortgage Business Act (MBA). The bill amends the MBA by: adding a definition for “mortgage servicer” and “mortgage servicing”;
Fannie Mae issued Selling Guide Announcement SEL-2016-03 (Announcement). This Announcement: introduces the HomeStyle Energy mortgage loan (enabling the borrower to finance energy-efficient upgrades when purchasing
As the industry wraps up the first six months of the Truth-in-Lending RESPA Integrated Disclosure (TRID) roll-out, TENA has spotlighted several key items that have
Colorado passed a bill repealing the “disclosure of fees and costs” required under the Mortgage Loan Originator Licensing and Mortgage Company Registration Act (MLOLMCRA) and
Michigan passed a bill repealing the Borrower Bill of Rights and the Consumer Caution and Home Ownership Counseling Notice. Under the bill, a lender is
Virginia passed a bill amending office requirements under the Lender and Broker Act. Under the bill, a mortgage lender and broker is no longer required
Florida passed a bill amending the timeframe for canceling a mortgage upon full satisfaction of the mortgage. Under the bill, a lender or servicer must
HUD issued Mortgagee Letter 2016-06. This Mortgagee Letter announces revisions to form HUD 92900-A, HUD/VA, Addendum to Uniform Residential Loan Application. Mortgagees must use the
Recently the IRS updated Form 4506 and Form 4506T to include a check box in the Signature section. When checked, the tax payer attests they
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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