CFPB Issues 2021 LIBOR Transition Rule
December 10, 2021
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
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 Bulletin 2021-37 (Bulletin) updating modification agreement requirements. Per the Bulletin, servicers are no longer required to prepare 2 original modification agreements for
FHA issued a partial waiver extending the face-to-face interview requirement for borrowers in default. The partial waiver allows lenders and servicers to continue to utilize
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
VA issued a Servicer Newsflash amending the maximum allowable appraisal fees and foreclosure attorney fees for mortgage servicers. Per the Newsflash, the new maximum allowable
RHS issued a SFH Guaranteed Servicing Notice (Notice) announcing temporary guidance for the 12-month forbearance limit for borrowers who are impacted by Hurricane Ida (or
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