RHS adopted rules pertaining to income banding, net family assets and area loan limits. Per the rule adoption: a two-tier income limit structure (also known
Freddie Mac issued Bulletin 2019-14, introducing the CHOICERenovation mortgage. The CHOICERenovation mortgage is a new mortgage product, that allows borrowers to use mortgage proceeds to
Freddie Mac issued Bulletin 2019-15, amending income eligibility requirements for Home Possible mortgages. Per the Bulletin, to be eligible for a Home Possible mortgage, a
Fannie Mae issued Selling Guide Announcement SEL-2019-01 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae removed the requirement that the
Fannie Mae issued Lender Letter LL-2019-06, amending income eligibility requirements for HomeReady loans. Per the Lender Letter, to be eligible for a HomeReady loan, a
Fannie Mae issued Servicing Guide Announcement SVC-2019-04 (Announcement), clarifying eligibility and documentation requirements related to partial lien releases. Per the Announcement: An appraisal is now
Freddie Mac issued Bulletin 2019-11 (Bulletin), announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac revised requirements related to credit underwriting and
Freddie Mac issued Bulletin 2019-12 (Bulletin), announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac updated deed-in-lieu of foreclosure inspection requirements by
Fannie Mae and Freddie Mac, at the direction of the Federal Housing Finance Agency (FHFA), delayed the optional use period for the redesigned Uniform Residential
VA issued Circular 26-19-13, updating approval loan procedures for unmarried veterans. Per the Circular, lenders with automatic authority are no longer required to obtain VA’s
FHA issued Title I Letter (TIL) TIL-489, adopting the Uniform Residential Loan Application (URLA) for the Title I loan programs. Per the TIL, FHA replaced
FHA issued Mortgagee Letter 2025-01, updating Defect Taxonomy to include Servicing Loan Reviews. Per the Mortgagee Letter (ML), FHA updated the Single Family Housing Policy
RHS adopted rules amending manufactured housing provisions under the Single Family Housing Guaranteed Loan Program. The adopted rules: The final rule is effective March 4,
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