Utah Revises Reverse Mortgage Act
April 20, 2023
Utah passed a bill revising the Reverse Mortgage Act. Under the bill, the minimum borrower age requirement and the timing requirement with respect to borrower
Massachusetts Authorizes Remote Online Notarizations
April 20, 2023
Massachusetts passed a bill authorizing remote online notarizations and establishing requirements for the performance of remote online notarizations. A remote online notarization is a notarial
District of Columbia Enacts Uniform Power of Attorney Act
April 18, 2023
District of Columbia passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power
Freddie Mac Issues Bulletin 2023-9: Selling Updates
April 6, 2023
Freddie Mac issued Bulletin 2023-9 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions with respect to the Puerto Rico
Fannie Mae Issues Selling Guide Announcement SEL-2023-03
April 6, 2023
Fannie Mae issued Selling Guide Announcement SEL-2023-03 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to the reporting
RHS Revises Chapters 4 and 6 of Single Family Housing Guaranteed Loan Program Technical Handbook
April 3, 2023
RHS revised chapters 4 and 6 of the Single Family Housing Guaranteed Loan Program Technical Handbook (HB-1-3555). The updates to chapter 4 clarify lender responsibilities
Fannie Mae Permits Shared Equity Loans Subject to Private Transfer Fee Covenants
March 9, 2023
Fannie Mae issued Lender Letter LL-2023-02, permitting shared equity loans subject to private transfer fee covenants. Per the Lender Letter, shared equity loans secured by
RHS Announces 2-Year Extension of Clarification Relating to Eligibility of Non-U.S. Citizens with Valid Social Security Numbers and Employment Authorization Documents
March 8, 2023
RHS issued a SFH Guaranteed Origination Notice (Notice) announcing a 2-year extension of the clarification pertaining to loan eligibility for a non-U.S. citizen with a
Freddie Mac Issues Bulletin 2023-6: Selling Updates
March 6, 2023
Freddie Mac issued Bulletin 2023-6 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to the delivery requirements for
FHA Transitions From LIBOR Index to SOFR Index
March 6, 2023
FHA adopted rules transitioning from the London Interbank Offered Rate (LIBOR) index to the Secured Overnight Financing Rate (SOFR) index for FHA-insured ARMs. Per the
