Fannie Mae issued Selling Guide Announcement SEL-2024-03 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to ROV policies
FHA issued Mortgagee Letter 2024-07, updating FHA’s reconsideration of value policy (ROV). Per the Mortgagee Letter (ML), FHA: The provisions of this ML are effective
FHA issued Mortgagee Letter 2024-06, updating acceptable funding sources for satisfying a borrower’s monetary investment related to HECM for Purchase transactions. Per the Mortgagee Letter
VA issued Circular 26-24-08 to offer a 40-Year Loan Modification option to assist borrowers in reaching an affordable payment in the current environment of rising
Freddie Mac issued Bulletin 2024-05 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac updated Exhibit 93 (Evaluation Notices) to remove
VA revised chapter 9 of the Servicer’s Handbook (M26-4). Chapter 9 was retitled from “Refunds” to “VA Purchase”. Sections 9.01 and 9.02 were also updated
Iowa passed a bill authorizing employees to work at remote locations. Under the bill, a mortgage lender, broker, or servicer licensed under the Mortgage Bankers
Iowa passed a bill exempting mortgage bankers from certain loan charge restrictions. Under the bill, a mortgage banker licensed under the Mortgage Bankers and Brokers
FHA extended a partial waiver of the face-to-face interview requirement for borrowers in default. The partial waiver allows lenders and servicers to utilize alternative methods
Freddie Mac issued Bulletin 2024-04 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac updated a manufactured home requirement to allow
RHS issued a SFH Guaranteed Servicing Notice (Notice) announcing revisions to chapters 17, 18, and 19 of the SFH Guaranteed Loan Program Technical Handbook (HB-1-3555).
North Dakota passed a bill requiring a financial corporation (nondepository entities regulated by the N.D. Department of Financial Institutions (Department)) to maintain a comprehensive information
Fannie Mae issued Selling Guide Announcement SEL-2025-02 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae is integrating Condo Project Manager
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