New York passed a bill enacting provisions with respect to reverse cooperative apartment unit loans. The provisions apply to reverse mortgage loans secured by a
Indiana adopted a rule increasing the amount of the state’s homestead exemption. Per the rule adoption, the homestead exemption was increased to $22,750 (rather than
FHA issued Mortgagee Letter 2022-04, extending the mandatory use date for the new FHA Catalyst: Electronic Appraisal Delivery (EAD) Module. Per the Mortgagee Letter, mortgagees
Freddie Mac issued Bulletin 2022-3 (Bulletin) to end temporary COVID-19 related requirements for borrowers with self-employment income, provided the most recent federal income tax returns
Fannie Mae issued an update to Lender Letter LL-2021-03 to retire temporary COVID-19 related requirements for borrowers with self-employment income, provided the most recent federal
Fannie Mae revised the Georgia Security Deed Form (Form 3011). The revision to the Georgia Security Deed removes the “Waiver of Borrower’s Rights and Closing
Fannie Mae issued Selling Guide Announcement SEL-2022-01 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae now allows desktop appraisals for
RHS adopted rules mandating the use of the Guaranteed Underwriting System (GUS) and the Lender Loan Closing System (LLC) for all Single Family Housing Guaranteed
Freddie Mac issued Bulletin 2022-2 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac now allows desktop appraisals for purchase transactions
New York passed a bill authorizing electronic notarizations and establishing requirements for the performance of electronic notarizations. An electronic notarization is a notarial act performed
FHA issued Mortgagee Letter (ML) 2025-14 revising and streamlining policy established in ML 2024-24 (Modernization of Engagement with Borrowers in Default) and providing clarifications to
Hawaii passed a bill amending the state’s nonjudicial power of sale foreclosure laws by adding 2 new sections to Chapter 667 (Foreclosures). Under the bill,
Oklahoma passed a bill amending breach of security requirements. Under the bill, a requirement was added that individuals and entities that own or license personal
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