Massachusetts adopted rules set forth in 209 CMR (Division of Banks) by removing and re-organizing regulations set forth in 209 CMR 18.00 (Conduct of the
California passed a bill enacting the Mortgage Forbearance Act (MFA). The MFA was enacted to allow a borrower to request forbearance on the borrower’s residential
California passed a bill requiring payment of interest on funds in a loss draft account. Under the bill, a servicer must pay at least 2%
FHA issued Mortgagee Letter 2025-21, updating new permanent loss mitigation options. The Mortgagee Letter makes minor changes to facilitate the implementation of servicing and loss
Freddie Mac, Fannie Mae, and FHA issued Bulletin 2025-E (Bulletin), Lender Letter LL 2025-03, and FHA Info #2025-49 (respectively) issuing temporary guidance related to the
Ohio adopted rules enacting and amending provisions under the Residential Mortgage Lending Act. The adopted rule adds mortgage servicer requirements related to registration, letters of
VA issued Circular 26-25-02, issuing procedure for the collection of partial claim funds. Per the Circular, if a VA-guaranteed loan has paid-in-full and a loan
VA issued a federal register notice updating the maximum allowable legal fee amounts for each state related to legal services performed in connection with foreclosures
FHA issued FHA Info 2025-42 announcing the adoption of the modernized Uniform Appraisal Dataset (UAD) 3.6. Per the announcement, the new UAD 3.6 Uniform Residential
Minnesota passed a bill amending loss mitigation requirements for servicers of first lien mortgage loans and the state’s foreclosure laws. Under the bill, the mandatory
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