New Jersey passed a bill amending delivery requirements with respect to a notice of intention to foreclose mortgage lenders and servicers are required to provide borrowers in default. Under the bill, the intention to foreclose notice is no longer required be sent to the Commissioner of Community Affairs. The bill went into effect March 20, 2024.
Click to view the New Jersey Assembly, No. 4 Bill: https://www.tenaco.com/wp-content/uploads/2024/03/NJ-AB-4-03-22-24.pdf
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VA issued Circular 26-24-08 to offer a 40-Year Loan Modification option to assist borrowers in reaching an affordable payment in the current environment of rising
Freddie Mac issued Bulletin 2024-05 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac updated Exhibit 93 (Evaluation Notices) to remove
VA revised chapter 9 of the Servicer’s Handbook (M26-4). Chapter 9 was retitled from “Refunds” to “VA Purchase”. Sections 9.01 and 9.02 were also updated
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