Rhode Island Authorizes Remote Notarizations
July 20, 2022
Rhode Island passed a bill authorizing the remote notarization of documents. Under the bill, a remote notarization is defined as a notarial act performed by
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North Carolina Amends Postponement of Foreclosure Sale Requirements
July 20, 2022
North Carolina passed a bill amending requirements with respect to the postponement of a foreclosure sale. Under the bill, a judicial foreclosure sale may now
Rhode Island Enacts Lender-Placed Insurance Provisions
July 20, 2022
Rhode Island passed a bill enacting lender-placed insurance provisions. The bill enacts lender-placed insurance provisions with respect to the term of the insurance policy, the
North Carolina Authorizes Remote Electronic Notarizations
July 18, 2022
North Carolina passed a bill authorizing remote electronic notarizations and establishing requirements for the performance of remote electronic notarizations. A remote electronic notarization is defined
FHA Updates Initial Appraisal Validity Period and Extends Appraisal Update Validity Period
July 18, 2022
FHA issued Mortgagee Letter 2022-11, updating the initial appraisal validity period and extending the appraisal update validity period. Per the Mortgagee Letter, FHA, for origination,
Fannie Mae Issues Servicing Guide Announcement SVC-2022-05
July 18, 2022
Fannie Mae issued Servicing Guide Announcement SVC-2022-05 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae: added requirements for compliance with
Minnesota Increases Amount of Homestead Exemption
July 11, 2022
Minnesota issued a notice (Notice) increasing the amount of the state’s homestead exemption. Per the Notice, the homestead exemption is increased to $480,000 (rather than
Fannie Mae Mandates Use of Supplemental Consumer Information Form (Form 1103)
July 11, 2022
Fannie Mae issued Lender Letter LL-2022-03, mandating the use of Supplemental Consumer Information Form (Form 1103) for loans sold to Fannie Mae with application dates
Fannie Mae Removes Suspension of Bulk Acquisitions, and Updates Allowable Delivery Time for HomeStyle Renovation Loans
July 11, 2022
Fannie Mae updated Lender Letter LL-2021-03: Impact of COVID-19 on Origination to remove the suspension of bulk acquisitions, and update the allowable delivery time for
Fannie Mae Issues Selling Guide Announcement SEL-2022-06
July 11, 2022
Fannie Mae issued Selling Guide Announcement SEL-2022-06 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: added requirements for compliance with
