FHA issued Mortgagee Letter 2019-15, updating Home Equity Conversion Mortgage (HECM) requirements with respect to Mortgagee Optional Election (MOE) assignments. A MOE assignment allows a
Nevada passed a bill increasing the amount of the state’s homestead exemption. Under the bill, the homestead exemption was increased to $605,000 (rather than $550,000).
Maine passed a bill amending postponement and report of sale foreclosure requirements. Under the bill, a foreclosure sale may now be postponed for a period
Fannie Mae issued Servicing Guide Announcement SVC-2019-06, updating maximum allowable foreclosure and bankruptcy attorney fees. Per the Announcement, Fannie Mae updated the maximum allowable foreclosure
Connecticut passed a bill extending the sunset date of the Foreclosure Mediation Program (Program) for an additional 4 years. Under the bill, the Program end
Maine passed a bill amending “notice of right to cure” (Notice) delivery requirements. Under the bill, a Notice must now be sent to the borrower
Ohio passed a bill authorizing the online notarization of documents. Under the bill, an online notarization is defined as a notarial act performed by means
RHS permanently adopted the Single-Close Construction Pilot Program (previously in effect in 27 states) on a nationwide basis, with modifications. The Single-Close Construction Program (Program)
VA issued Circular 26-19-24, updating requirements with respect to loss mitigation letters sent to borrowers. Per the Circular, VA updated language that must be included
VA revised chapters 9 and 13 of the Lender’s Handbook (M26-7). Chapter 9 (Legal Instruments, Liens, Escrows and Related Issues) has been revised (in its
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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