FHA issued FHA Info #2022-25 requiring the electronic submission of flood insurance data through FHA Connection (FHAC). Per the update, new fields have been added
Fannie Mae issued Selling Guide Announcement SEL-2022-02 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Updated requirements with respect to
Freddie Mac issued Bulletin 2022-5 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: introduced automated income assessment with Loan Product
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
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