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 updated the area median incomes (AMIs) used to determine a borrower’s eligibility for HomeReady, RefiNow, and Duty to Serve loans. The 2023 AMIs
VA issued Circular 26-23-10 (Circular), clarifying assumption procedures and republishing assumption stacking orders. Per the Circular, VA clarified assumption procedures and republished the stacking order
Fannie Mae issued a Selling Notice (Notice) announcing the effective date for recently revised appraisal photo requirements. On March 1, 2023, Fannie Mae issued Selling
Freddie Mac issued Bulletin 2023-12 (Bulletin), rescinding the debt-to-income (DTI) ratio-based credit fee for certain mortgages with borrowers with DTI ratios above 40%. The credit
Freddie Mac issued Bulletin 2023-11 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions with respect to IRS installment agreements
Fannie Mae issued Selling Guide Announcement SEL-2023-04 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: In addition, Fannie Mae updated
FHA issued Mortgagee Letter 2023-09, implementing the provisions of the Adjustable Rate Mortgages (ARMS): Transitioning from London Interbank Offered Rate (LIBOR) to Alternative Indices rule
The CFPB issued the 2023 LIBOR Transition Interim Rule updating the CFPB’s 2021 LIBOR Transition Rule. The Interim rule makes changes consistent with the Adjustable
Virginia passed a bill allowing employees to work at remote locations. Under the bill, a mortgage lender or broker licensed under the Mortgage Lender and
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