VA amended requirements for processing site condominiums in Michigan. A site condominium is defined as a single family totally detached dwelling (no shared garages or
VA issued Circular 26-18-13 (Circular), setting forth amended Interest Rate Reduction Refinance Loan (IRRRL) requirements in light of the recently passed Economic Growth, Regulatory Relief
VA increased the maximum allowable liquidation appraisal fees for properties located in Oregon. These changes are reflected on the VALERI Fee Cost Schedule. The increased
Fannie Mae issued Lender Letter LL-2018-02, providing updates and additional details regarding the upcoming High Loan-to-Value Refinance option (available later this year). Fannie Mae introduced
Fannie Mae updated the area median incomes used to determine a borrower’s eligibility for HomeReady mortgage loans. The 2018 HomeReady income limits will be available
RHS amended chapter 3 of the SFH Guaranteed Loan Program Technical Handbook (HB-1-3555). Pursuant to the amendments, RHS added language to specify that lender re-certification
RHS revised Form RD 3555-21 “Request for Single Family Housing Loan Guarantee” (Form). Effective November 1, 2018, all loan packages must include the revised Form
Tennessee passed a bill authorizing online notarization of documents and establishing procedures for the performance of online notarizations. An online notarization is a notarial act
New York passed a bill repealing certain exemptions for reverse mortgages under the state’s foreclosure laws. Under existing law, reverse mortgage transactions are exempt from
Montana adopted rules reducing license renewal fees under the Montana Mortgage Act (MMA). Under the adopted rules, renewal fees for licenses issued under the MMA
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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