Fannie Mae updated Lender Letter LL-2021-10 to remove the minimum representative credit score requirement for a RefiNow Mortgage. Per the updated Lender Letter, Fannie Mae
Idaho passed a bill requiring junior lienholder’s to provide a “notice of liability” to borrower’s in default, in the event the senior mortgage is foreclosed
FHA issued Mortgagee Letter 2022-06, updating policy regarding reimbursement for property preservation and protection cost claims. Per the Mortgagee Letter, HUD will only reimburse mortgagees
VA issued Circular 26-22-04 (Circular), announcing updates to the Request For Determination of Reasonable Value (VA Form 26-1805). Per the Circular, VA Form 26-1805 has
Freddie Mac issued Bulletin 2022-6 (Bulletin) updating automated collateral evaluation (ACE) appraisal waiver eligibility and introducing ACE+ Property Data Report (PDR). Per the Bulletin, Loan
Indiana passed a bill modifying timing requirements with respect to the notification of a data breach. Under the bill, persons that own or license computerized
Indiana passed a bill permitting electronic foreclosure sales. Under the bill, a sheriff may now conduct a foreclosure sale electronically (in addition to conducting a
FHA issued FHA Info #2022-25 requiring the electronic submission of flood insurance data through FHA Connection (FHAC). Per the update, new fields have been added
Fannie Mae issued Selling Guide Announcement SEL-2022-02 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Updated requirements with respect to
Freddie Mac issued Bulletin 2022-5 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: introduced automated income assessment with Loan Product
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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