VA issued Circular 26-18-7 (Circular), amending requirements with respect to construction loans. Per the Circular, VA has received inquiries regarding the procedures to process construction
Arizona passed a bill decreasing license fees under the Mortgage Bankers Statute and the Mortgage Brokers Statute. Under the bill, the initial license fee for
Wisconsin passed a bill amending requirements with respect to payoff statements. Under current law, lenders and servicers may not qualify a payoff amount or state
Wisconsin passed a bill eliminating the requirement that lenders and servicers pay interest on funds held in escrow. Under the bill, lenders and servicers are
RHS issued a waiver (under the Single Family Housing Guaranteed Loan Program) allowing lenders and servicers to offer a loan modification interest rate that exceeds
Fannie Mae issued Selling Guide Announcement SEL-2018-03 (Announcement), setting forth updates to the Selling Guide. As outlined in the Announcement, the Selling Guide has been
Freddie Mac issued Bulletin 2018-5 (Bulletin), announcing revisions to the Single-Family Seller/Servicer Guide (Guide). Per the Bulletin, Freddie Mac: increased the maximum LTV/TLTV/HTLTV ratios for
West Virginia passed a bill amending the SAFE Mortgage Licensing Act. Under the bill, the license application fee increased from $50 to $200. The bill
FHA extended the HECM foreclosure moratorium for properties located in Puerto Rico and the Virgin Islands affected by Hurricane Maria. The foreclosure moratorium is extended
South Dakota passed a bill establishing disclosure requirements in the event of a security breach. Under the bill, an “information holder” must disclose a security
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