Connecticut passed a bill amending the Nondepository Mortgage Lenders and Brokers Act. Under the bill, licensed activity may only be conducted from an office located
Fannie Mae issued Servicing Guide Announcement SVC02018-07 (Announcement), requiring servicers to use a Fannie Mae-approved vendor for foreclosure sale marketing services in designated jurisdictions. Per
Freddie Mac issued Bulletin 2018-16 (Bulletin), announcing new and revised underwriting guidelines to facilitate a secondary market for mortgages in support of affordable housing preservation
FHA issued Mortgagee Letter 2018-06, setting forth amended appraisal requirements for Home Equity Conversion Mortgages (HECMs). Per the Mortgagee Letter, FHA will perform a collateral
Connecticut passed a bill requiring counseling in connection with reverse annuity mortgage loans. Under the bill, mortgage lenders and brokers (including state or federally chartered
Maryland passed a bill authorizing the escrow of funds for the payment of water and sewer facilities assessments. Under the bill, a lending institution making
The North Carolina Commissioner of Banks (Commissioner) readopted and amended rules under the Secure and Fair Enforcement Mortgage Licensing Act and the Reverse Mortgage Act.
The Vermont Banking Division (Division) adopted rules amending commitment letter requirements with respect to mortgage loans. Per the adopted rules, the Division: amended the content
To identify mortgage origination Quality Control audit exceptions that occur frequently, TENA analyzed the audit results from thousands of Origination QC audits that it completed
Mortgage Servicing Quality Control Notable Audit Findings: April – June 2018 In excess of 20,000 mortgage servicing Quality Control reviews were conducted during the second quarter
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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