Georgia adopted rules repealing the mortgage broker experience and education requirements under the Residential Mortgage Act (RMA). Under the adopted rules, an applicant for a
Colorado passed a bill enacting release of lien requirements with respect to lines of credit. Under the bill, if a line of credit is secured
Freddie Mac issued Guide Bulletin 2016-12 (Bulletin). The Bulletin: revises ARM notes and riders to include new language imposing a lifetime floor equal to the
Fannie Mae issued Selling Guide Announcement SEL-2016-05 (Announcement). The Announcement: updates the Selling Guide to simplify the way income limits are applied for HomeReady; updates
HUD issued Mortgagee Letter 2016-09. The Mortgagee Letter announces changes to the delivery methods by which HUD will provide mortgagees with Advice of Payment and
Freddie Mac issued Guide Bulletin 2016-11 (Bulletin). The Bulletin updates requirements related to Home Possible mortgages (including Home Possible Advantage mortgages). The updated requirements: prohibit
TENA’s Analysis of Servicing Audit Findings To identify frequently occurring mortgage Quality Control audit exceptions, TENA analyzed the findings from tens of thousands of QC
South Carolina passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power of
Fannie Mae issued Servicing Guide Announcement SVC-2016-05 (Announcement). This Announcement updates the Servicing Guide with respect to: retirement of delinquency counseling requirements for community lending
Fannie Mae issued Lender Letter LL-2016-03. Under the Lender Letter, the mandatory effective date for lender-placed insurance (LPI) deductibles for servicers that use American Modern
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