RHS issued a notice reminding lenders of their responsibility prior to closing a loan for a borrower affected by Hurricane Harvey. Pursuant to the announcement, lenders must conduct due diligence to ensure that potential damage to the security property or changes to borrower eligibility such as a loss or reduction of income has not occurred.
Click here to view the RHS Reminder Lender Responsibility in Event of Natural Disaster
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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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