Fannie Mae issued Lender Letter LL-2019-05, restricting the purchase of LIBOR ARMs due to the anticipated discontinuance of the LIBOR index in 2021. Per the
Freddie Mac issued Bulletin 2019-9 (Bulletin), announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac updated requirements relating to: property eligibility and
FHA issued a Waiver of Housing Directive (Waiver) pertaining to the timeline for initiating damage inspections in presidentially-declared disaster areas in Iowa. FHA currently requires
New Jersey passed a bill requiring additional information to be provided with the foreclosure summons and complaint, and the “notice of the pendency of the
New Jersey passed a bill amending timing and content requirements with respect to the “notice of intention to foreclose” (Notice). Under the bill, a foreclosing
New Jersey passed a bill extending the timing requirement for a foreclosure sale involving vacant and abandoned property. Under the bill, a sheriff must now
New Jersey passed a bill requiring a foreclosing lender or servicer’s attorney to provide the property deed to the Sheriff following a foreclosure sale. Under
New Jersey passed a bill amending the content of the “notice of intention to foreclose” (Notice). Pursuant to the bill, a lender or servicer must
In excess of 35,000 mortgage servicing Quality Control reviews were conducted during the first quarter of 2019 with nearly 2,000 unique audit exceptions cited by
FHA issued Mortgagee Letter 2019-07, extending the effective date of Mortgage Letter 2019-06 (Downpayment Assistance and Operating in a Governmental Capacity). Per the Mortgagee Letter,
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