Minnesota issued a notice (Notice) increasing the amount of the state’s homestead exemption. Per the Notice, the homestead exemption is increased to $510,000 (previously, $480,000).
The Ohio Division of Financial Institutions (Division) issued a Residential Mortgage Lending Letter (Lending Letter) allowing mortgage lenders, brokers and mortgage loan originators to act
RHS revised chapter 11 of the Single Family Housing Guaranteed Loan Program Technical Handbook (HB-1-3555). The revisions to chapter 11: The revisions are expected to
VA issued Circular 26-24-14 announcing a temporary local variance to allow borrowers to pay for real estate broker or agent (buyer-broker) charges. Per the Circular,
VA revised topic 2 of chapter 7 of the Lender’s Handbook (M26-7). Topic 2, relating to construction/permanent loans, of chapter 7 was revised in the
Michigan passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power of Attorney
VA issued Circular 26-24-13 (Circular), requiring the use of VA’s Loan Review API to submit the Uniform Loan Application Dataset (ULAD), Uniform Closing Dataset (UCD),
Fannie Mae issued Selling Guide Announcement SEL-2024-04 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to SFC 887
VA revised chapter 3 of the Lender’s Handbook (M26-7). Topics 1 through 6 of chapter 3 were revised as follows: In addition, topics 1 through
VA revised chapter 5 of the Lender’s Handbook (M26-7). Topics 1 through 4 of chapter 5 were updated as follows: Topics 1 through 4 were
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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