Mortgage Servicing Quality Control Notable Audit Findings: January – March 2018 In excess of 17,000 mortgage servicing Quality Control reviews were conducted during the first quarter
Vermont passed a bill enacting the Revised Uniform Law on Notarial Acts. The Revised Uniform Law on Notarial Acts is modeled upon the Revised Uniform
Iowa passed a bill shortening the redemption period following a foreclosure sale. Under the bill, a lender and borrower may agree (in the mortgage instrument)
Virginia passed a bill amending Notice of Sale requirements under the nonjudicial foreclosure process. Under the bill, if a lender or servicer has received notification
Indiana passed a bill permitting electronic powers of attorney. Under the bill, a principal, or person acting at the principal’s direction, may create a valid
RHS amended the income limits under the Single Family Housing Guaranteed Loan Program. Appendix 5 of the Single Family Housing Guaranteed Loan Program Technical Handbook
Ginnie Mae issued All Participant Memorandum APM 18-04 (APM), announcing revised seasoning requirements for VA refinance loans. Per the APM, the note date of a
Freddie Mac issued Guide Bulletin 2018-9 (Bulletin), setting forth servicing updates to the Single-Family Seller/Servicer Guide. Pursuant to the Bulletin, Freddie Mac: consolidated requirements for
VA issued Circular 26-18-16, describing measures mortgagees may employ to provide relief to home loan borrowers affected by severe storms and flooding in Maine. The
Fannie Mae issued Selling Guide Announcement SEL-2018-05 (Announcement), setting forth updates to the Selling Guide. As outlined in the Announcement, the Selling Guide has been
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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