Fannie Mae issued Selling Guide Announcement SEL-2022-07 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae updated requirements to allow the
Georgia adopted rules amending the Residential Mortgage Act (RMA). The rule adoption amended the RMA with respect to initial and renewal fee requirements, recordkeeping requirements,
Rhode Island passed a bill amending the General Laws Licensed Activities Act (GLLAA) and the Secure and Fair Enforcement Mortgage Licensing Act (SFEMLA). The bill
Fannie Mae revised the Texas Home Equity Security Instrument Form (Form 3044.1). The revision to the Texas Home Equity Security Instrument removes language in the
Rhode Island passed a bill authorizing the remote notarization of documents. Under the bill, a remote notarization is defined as a notarial act performed by
Rhode Island passed a bill enacting lender-placed insurance provisions. The bill enacts lender-placed insurance provisions with respect to the term of the insurance policy, the
North Carolina passed a bill authorizing remote electronic notarizations and establishing requirements for the performance of remote electronic notarizations. A remote electronic notarization is defined
FHA issued Mortgagee Letter 2022-11, updating the initial appraisal validity period and extending the appraisal update validity period. Per the Mortgagee Letter, FHA, for origination,
Minnesota issued a notice (Notice) increasing the amount of the state’s homestead exemption. Per the Notice, the homestead exemption is increased to $480,000 (rather than
Fannie Mae issued Lender Letter LL-2022-03, mandating the use of Supplemental Consumer Information Form (Form 1103) for loans sold to Fannie Mae with application dates
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