Montana Revises Montana Mortgage Act
July 19, 2023
Montana passed a bill revising the Montana Mortgage Act (MMA). The bill revised the MMA to allow remote work for a mortgage business, clarify reporting
Freddie Mac Issues Bulletin 2023-15: Selling Updates
July 17, 2023
Freddie Mac issued Bulletin 2023-15 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to PAR are effective for
Fannie Mae Issues Selling Guide Announcement SEL-2023-06
July 17, 2023
Fannie Mae issued Selling Guide Announcement SEL-2023-06 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to condo and
RHS Amends Income Limits under Single Family Housing Guaranteed Loan Program
July 17, 2023
RHS amended the income limits under the Single Family Housing Guaranteed Loan Program. Appendix 5 of the Single Family Housing Guaranteed Loan Program Technical Handbook
RHS Updates Chapters 5, 13, 15 and Appendix 4 of Single Family Housing Guaranteed Loan Program Technical Handbook
June 29, 2023
RHS revised chapters 5, 13, 15, and Appendix 4 of the Single Family Housing Guaranteed Loan Program Technical Handbook (HB-1-3555). The updates to chapter 5
Fannie Mae Revises District of Columbia Security Instrument
June 29, 2023
Fannie Mae revised the District of Columbia Security Instrument Form (Form 3009). The revision to the District of Columbia Security Instrument increases clarity to paragraph
FHA Requires Use of Supplemental Consumer Information Form for Mortgage Originations
June 27, 2023
FHA issued Mortgagee Letter 2023-13 requiring the use of Fannie Mae/ Freddie Mac Form 1103 (Supplemental Consumer Information Form) for mortgage originations. Per the Mortgagee
Freddie Mac Issues Bulletin 2023-13: Selling Updates
June 8, 2023
Freddie Mac issued Bulletin 2023-13 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: The HeritageOne Mortgage offering is available October
Fannie Mae Issues Selling Guide Announcement SEL-2023-05
June 8, 2023
Fannie Mae issued Selling Guide Announcement SEL-2023-05 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions of temporary interest rate
Fannie Mae Updates Area Median Incomes Used to Determine Borrower Eligibility for HomeReady, RefiNow and Duty to Serve Loans
June 1, 2023
Fannie Mae updated the area median incomes (AMIs) used to determine a borrower’s eligibility for HomeReady, RefiNow, and Duty to Serve loans. The 2023 AMIs
