Freddie Mac issued Bulletin 2023-8 (Bulletin), updating payment deferral requirements. Per the Bulletin, Freddie Mac: In addition, Freddie Mac announced new outreach requirements for mortgages
FHA issued a notice expanding the definition of imminent default to include homeowners who qualify for Homeowner Assistance Funds (HAF). Per the notice, servicers will
Freddie Mac reissued Bulletin 2023-2: LIBOR Transition (Bulletin) to notify servicers of a correction to the original publication (published on January 25, 2023). Per the
Fannie Mae issued Lender Letter LL-2023-03 (formerly numbered LL-2021-02) to remove COVID-19 related property inspection and preservation policies. Per the Lender Letter, the policies were
Fannie Mae reissued Servicing Notice: Legacy Libor Replacement Index (Notice) to notify servicers of a correction to the original publication (published on January 25, 2023).
Fannie Mae issued Servicing Guide Announcement SVC-2023-01 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae: The revisions went into effect
FHA adopted rules establishing a 40-year loan modification option. Under the adopted rules, lenders and servicers may increase the maximum term of a loan modification
FHA adopted rules transitioning from the London Interbank Offered Rate (LIBOR) index to the Secured Overnight Financing Rate (SOFR) index for FHA-insured ARMs. Per the
Maryland adopted rules amending foreclosure procedures for residential property. Under the adopted rules, a Notice of Intent to Foreclose expires and must be reissued in
FHA issued Mortgagee Letter 2023-03, requiring electronic submissions for all Title II single-family mortgage insurance claim types. Per the Mortgagee Letter, FHA eliminated paper-based filings
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