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
The CFPB issued the 2021 LIBOR Transition rule (Rule) amending the Truth in Lending Act (TILA) to address the sunset of LIBOR (which is expected
Fannie Mae issued Servicing Guide Announcement SVC-2021-08 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae consolidated property insurance requirements applicable
Freddie Mac issued Guide Bulletin 2021-36 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Addressed the use of cryptocurrency in
FHA issued Mortgagee Letter 2021-28 to announce the forward mortgage loan limits for 2022. The 2022 “floor” and “ceiling” loan limits for a one-unit property
FHA issued Mortgagee Letter 2021-29 to announce the home equity conversion mortgage (HECM) limits for 2022. The maximum claim amount for FHA-insured HECMs in 2022
Fannie Mae issued Lender Letter LL-2021-16 and Freddie Mac issued Bulletin 2021-36 (Bulletin) increasing the maximum conforming loan limits for mortgages acquired by Fannie Mae
FHA issued Mortgagee Letter 2021-27, updating and clarifying appraisal requirements regarding compliance with Fair Housing laws. Per the Mortgagee Letter FHA: updated Section I.B.1.d.i (Appraisers
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