California Amends Foreclosure Laws
August 2, 2024
California passed a bill amending the state’s foreclosure laws. Under the bill, a person is prohibited from contacting, soliciting, or initiating communication with an owner
California passed a bill amending the state’s foreclosure laws. Under the bill, a person is prohibited from contacting, soliciting, or initiating communication with an owner
RHS issued a Federal Register Notice (Notice) introducing the Payment Supplement Account Demonstration Program (Program) which establishes a new loss mitigation retention option referred to
Fannie Mae issued Servicing Guide Announcement SVC-2024-04 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae updated expense reimbursement requirements to:
RHS issued a SFH Guaranteed Servicing Notice (Notice) issuing guidance on foreclosures impacted by the 8th Circuit ruling in “Show Me State Premium Homes v.
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).
VA issued Circular 26-24-12, Change 1, removing one of the exceptions to the targeted foreclosure moratorium announced in the original Circular. Per the original Circular,
Freddie Mac issued Bulletin 2024-08 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to Resolve and the Resolve
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
Freddie Mac issued Bulletin 2024-07 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to builder forward commitments are
VA issued Circular 26-24-12 to announce a targeted foreclosure moratorium on VA-guaranteed loans. Per the Circular, servicers are encouraged to implement a targeted foreclosure moratorium
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