Fannie Mae issued Servicing Guide Announcement SVC-2023-01 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae: The revisions went into effect
FHA adopted rules establishing a 40-year loan modification option. Under the adopted rules, lenders and servicers may increase the maximum term of a loan modification
RHS issued a SFH Guaranteed Origination Notice (Notice) announcing a 2-year extension of the clarification pertaining to loan eligibility for a non-U.S. citizen with a
Freddie Mac issued Bulletin 2023-6 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to the delivery requirements for
FHA adopted rules transitioning from the London Interbank Offered Rate (LIBOR) index to the Secured Overnight Financing Rate (SOFR) index for FHA-insured ARMs. Per the
Fannie Mae issued Selling Guide Announcement SEL-2023-02 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to valuation modernization,
Fannie Mae revised the Puerto Rico Security Instrument Form (Form 3053) and the Texas Home Equity Security Instrument (Form 3044.1). The revision to the Puerto
Maryland adopted rules amending foreclosure procedures for residential property. Under the adopted rules, a Notice of Intent to Foreclose expires and must be reissued in
FHA issued Mortgagee Letter 2023-05, reducing annual mortgage insurance premiums and amending the base loan amount threshold used to establish mortgage insurance premiums. Per the
FHA issued Mortgagee Letter 2023-03, requiring electronic submissions for all Title II single-family mortgage insurance claim types. Per the Mortgagee Letter, FHA eliminated paper-based filings
Arizona adopted a rule permitting employees (including loan originators) to work at remote locations. Under the adopted rule, a mortgage banker licensed under the Mortgage
FHA issued a temporary partial regulatory waiver waiving the recently increased base flood elevation requirement for certain newly constructed properties. On April 23, 2024 FHA
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
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