Virginia passed a bill amending dual capacity disclosure requirements for mortgage brokers licensed under the Mortgage Lender and Broker Act. Under the bill, a dual
VA issued Circular 26-22-05 (Circular), announcing a new optional procedure in which lenders may upload the Uniform Closing Dataset (UCD) and Uniform Loan Application Dataset
Colorado passed a bill increasing the amount of the state’s homestead exemption. Under the bill, the homestead exemption is increased to $250,000 (rather than $75,000)
Freddie Mac issued Bulletin 2022-7 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: removed the minimum indicator score requirement for
Freddie Mac issued Bulletin 2022-8 (Bulletin) announcing temporary guidance related to foreclosure actions and the Homeowner Assistance Fund (HAF). Per the Bulletin, servicers must suspend
Fannie Mae issued Selling Guide Announcement SEL-2022-03 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: updated title insurance requirements to
Fannie Mae updated Lender Letter LL-2021-02 to announce temporary guidance related to foreclosure actions and the Homeowner Assistance Fund (HAF). Per the updated Lender Letter,
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
Fannie Mae issued Selling Guide Announcement SEL-2025-02 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae is integrating Condo Project Manager
Fannie Mae revised the West Virginia Security Instrument Form (Form 3049). The revision updates paragraph 1 (pertaining to payment of principal, interest, escrow items, prepayment
Freddie Mac issued Bulletin 2025-4 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac introduced the Freddie Mac Income Calculator, designed
