Fannie Mae announced that it will no longer charge a fee to exercise a property inspection waiver (PIW). The process for exercising a PIW offer will not change – lenders must provide special feature code (SFC) 801 at the time of loan delivery – but the fee will no longer apply. Discontinuance of the fee applies to all loans delivered with SFC 801 on or after January 1, 2017.
FHA
FHA Updates Home Equity Conversion Mortgage Acceptable Monetary Investment Funding Sources
FHA issued Mortgagee Letter 2024-06, updating acceptable funding sources for satisfying a borrower’s monetary investment related to HECM for Purchase transactions. Per the Mortgagee Letter
April 29, 2024
