Fannie Mae recently introduced Desktop Underwriter (DU) Validation, a service that impacts various Quality Control requirements. For lenders that opt-in to the new DU validation
FHA issued Mortgagee Letter 2016-17 announcing an address change for FHA’s National Servicing Center branch, located in Tulsa, Oklahoma. Lenders and servicers must use the
Fannie Mae and Freddie Mac issued an Implementation Guidance and Update (Update) for the upcoming redesigned Uniform Residential Loan Application (URLA). The Update announces a
The Consumer Financial Protection Bureau (CFPB) issued warning letters to 44 mortgage lenders and brokers addressing potential mortgage lending reporting failures. The CFPB identified the
FHA issued Mortgagee Letter 2016-16 updating the source for obtaining the 10-year London Interbank Offered Rate (LIBOR) swap rate. Under the Mortgagee Letter, mortgagees must
Freddie Mac issued Guide Bulletin 2016-19 revising Freddie Mac’s income qualification requirements and guidance. The revisions provide additional requirements and guidance on matters that impact
The CFPB amended its guidance on service providers to clarify that the depth and formality of the risk management program for service providers may vary
Fannie Mae issued Selling Guide Announcement SEL-2016-08 (Announcement). The Announcement: introduces a new optional DU validation service for income; permits the waiver of appraisal requirements
VA revised chapter 21 of the Servicer Handbook (M26-4). Chapter 21 was revised to address VA guaranteed home loans affected by a Federal Emergency Management
Fannie Mae issued Servicing Guide Announcement SVC-2016-09 (Announcement). The Announcement: updates servicer responsibilities related to cancelling property insurance and managing property following a foreclosure sale;
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