VA Revises Chapter 5 of Lender’s Handbook (M26-7)
May 22, 2024
VA revised chapter 5 of the Lender’s Handbook (M26-7). Topics 1 through 4 of chapter 5 were updated as follows: Topics 1 through 4 were
FHA Updates Single Family Housing Policy Handbook
May 20, 2024
FHA published an update to the Single Family Housing Policy Handbook (SF Handbook 4000.1). The update includes additions, revisions, and various technical edits to Sections
Fannie Mae Updates Area Median Incomes used to Determine Borrower Eligibility for HomeReady, RefiNow and Duty to Serve Loans
May 13, 2024
Fannie Mae updated the area median incomes (AMIs) used to determine a borrower’s eligibility for HomeReady, RefiNow, and Duty to Serve loans. The 2024 AMIs
VA Revises Appendix A of, and Introduces Appendix B to, Lender’s Handbook (M26-7)
May 13, 2024
VA revised Appendix A of, and introduced Appendix B to, the Lender’s Handbook (M26-7). Appendix A was revised to reflect Loan Guaranty Service’s transition from
Freddie Mac Updates Area Median Income Limits
May 9, 2024
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
RHS Revises Chapters 9, 10, and 16 of Single Family Housing Guaranteed Loan Program Technical Handbook
May 9, 2024
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
Nebraska Amends Residential Mortgage Licensing Act
May 9, 2024
Nebraska passed a bill amending the Residential Mortgage Licensing Act (RMLA). Under the bill, a lender and broker licensed under the RMLA must provide notice
Freddie Mac Issues Bulletin 2024-06: Selling Updates
May 2, 2024
Freddie Mac issued Bulletin 2024-06 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to ROV are effective August
Fannie Mae Issues Selling Guide Announcement SEL-2024-03
May 2, 2024
Fannie Mae issued Selling Guide Announcement SEL-2024-03 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to ROV policies
FHA Updates Reconsideration of Value Policy
May 2, 2024
FHA issued Mortgagee Letter 2024-07, updating FHA’s reconsideration of value policy (ROV). Per the Mortgagee Letter (ML), FHA: The provisions of this ML are effective
