Wisconsin passed a bill removing an approved index for variable rate transactions. Under the bill, use of the national average mortgage contract rate for major lenders on the purchase of previously occupied homes, as computed by the Federal Home Loan Bank Board, is no longer allowed. The bill went into effect April 10, 2022.
Click to view the Wisconsin House Bill 1023: https://www.tenaco.com/wp-content/uploads/2022/04/WI-AB-1023-04-09-22.pdf
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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.
FHA issued Mortgagee Letter 2024-20 implementing Federal Flood Risk Management Standards for new construction properties located in Special Flood Hazard Areas. On April 23, 2024,
Fannie Mae issued Selling Guide Announcement SEL-2024-07 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to leasehold estates
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