New York passed a bill requiring mortgage lenders and other banking organizations offering residential mortgage services to provide a “What Mortgage Applicants Need to Know”
New York passed a bill enacting flood insurance requirements and restrictions on mortgage lenders and servicers. Under the bill, a mortgage lender or servicer may
RHS issued a SFH Guaranteed Origination Notice (Notice) reducing the seasoning period required before a loan is eligible to be refinanced within the Single-Family Housing
The CFPB adopted rules governing residential Property Assessed Clean Energy (PACE) transactions. Per the rule adoption, the CFPB: The rule adoption is effective March 1,
FHA issued a waiver regarding early payment default review requirements for properties Impacted by Hurricanes Helene and Milton. FHA currently requires lenders to select all
Freddie Mac issued Bulletin 2024-H (Bulletin) extending the $2,500 Home Possible Very-Low Income Purchase (VLIP) mortgages credit for one additional year and adding a new
Fannie Mae issued Selling Guide Announcement SEL-2024-08 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to the appraisal
Illinois adopted rules modifying examination fees under the Community Reinvestment Act (CRA). Per the rule adoption, entities licensed under the Residential Mortgage License Act that
Fannie Mae issued an update to Lender Letter LL-2024-01 to extend the $2,500 loan-level price adjustment (LLPA) credit for one additional year and to add
Freddie Mac issued Bulletin 2024-16 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to refactoring chapter 1302 are
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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