VA issued Circular 26-18-6 (Circular), amending and enhancing policy with respect to loans used for alteration and repair. The intent of the new policy is to encourage lenders to make VA-guaranteed loans to veterans who wish to purchase or refinance a home that is in need of alteration and/or repair. The Circular sets forth the general process lenders must follow when processing a loan for alteration and repair. The amended policy is effective immediately.
Fannie Mae
Fannie Mae Issues Servicing Guide Announcement SVC-2024-06
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
November 14, 2024
