Freddie Mac Issues Bulletin 2024-03: Selling Updates
Freddie Mac issued Bulletin 2024-03 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac removed the requirement for lenders to provide
Freddie Mac issued Bulletin 2024-03 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac removed the requirement for lenders to provide
FHA adopted rules establishing indexing methodologies for calculating Title I manufactured home loan limits. Per the rule adoption, FHA will begin using data from the
VA issued Circular 26-23-10, Change 1, providing additional information regarding fees that may be charged to and paid by a person assuming a VA-guaranteed loan
VA issued Circular 26-24-05 authorizing in advance, as a local variance, an Assumption Locality Variance charge (Variance). Per the Circular, a lender may charge an
FHA issued Mortgagee Letter 2024-02, establishing the Payment Supplement loss mitigation option. Per the Mortgagee Letter (ML), the Payment Supplement loss mitigation option combines a
RHS issued a waiver (under the Single Family Housing Guaranteed Loan Program) allowing servicers to remove the 55% debt-to-income ratio and 31% housing ratio limitations
Freddie Mac issued Bulletin 2024-02 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac added specificity regarding a lender’s responsibility to
VA issued Circular 26-24-02 amending COVID-19 Home Retention Waterfall and COVID-19 Refund Modification requirements. Per the Circular, VA included a 40-year repayment term for a
Fannie Mae issued Selling Guide Announcement SEL-2024-01 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to property insurance
Freddie Mac issued Bulletin 2024-01 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to trust income requirements are
South Dakota passed a bill increasing the amount consumers may be charged for dishonored checks. Consumers may now be charged up to $60 for a
New Jersey passed a bill amending foreclosure provisions with respect to residential properties (1-to 4-family property used as a primary residence). Under the bill, a
Freddie Mac issued Bulletin 2024-C (Bulletin, announcing updated area median income (AMI) limits. For mortgages submitted to Loan Product Advisor (LPA), LPA will be updated
Virginia passed a bill amending provisions regarding foreclosed property. Under the bill, a subordinate mortgage lienholder must provide to the trustee and the borrower, at
RHS revised chapters 9, 10, and 16 of the Single Family Housing Guaranteed Loan Program Technical Handbook (HB-1-3555). The updates to chapter 9 update a
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