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
Louisiana adopted a rule authorizing remote online notarizations and establishing requirements for the performance of remote online notarizations. A remote online notarization is a notarial
VA issued Circular 26-22-02 (Circular), announcing updates to the Counseling Checklist for Military Homebuyers form (VA Form 26-0592). Per the Circular, VA Form 26-0592 has
The New Jersey Department of Banking and Insurance issued a bulletin amending the high-cost home loan limit under the Home Ownership Security Act of 2002
Fannie Mae issued Lender Letter LL-2022-01: Loan-Level Price Adjustments (LLPAs). The LLPAs apply to second homes and high balance mortgage loans. In addition, Fannie Mae
VA issued Circular 26-21-26 to clarify the funding fee determination for borrowers purchasing or constructing a home with a 5% or 10% down payment. Per
Fannie Mae issued Selling Guide Announcement SEL-2021-11 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: modified the definition of principal
Freddie Mac issued Bulletin 2021-38 (Bulletin) establishing temporary review requirements for certain condominium and cooperative share projects. Per the Bulletin, Freddie Mac established temporary project
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