VA extended the foreclosure moratorium for borrowers affected by the Maui wildfires. The foreclosure moratorium is extended through May 31, 2024. Click to view the
FHA issued Mortgagee Letter 2023-20 updating the maximum allowable property inspection fees for mortgage servicers. Per the Mortgagee Letter, the new maximum allowable property inspection
FHA issued Mortgagee Letter 2023-18 updating the sales comparison approach for appraisals of certain manufactured homes. Per the Mortgagee Letter, FHA updated the policy exception
FHA published an update to the Single Family Housing Policy Handbook (SF Handbook 4000.1) to add new sections applicable to Home Equity Conversion Mortgages (HECMs).
Freddie Mac issued Bulletin 2023-22 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac updated: Revisions related to the unacceptable appraisal
Fannie Mae issued Selling Guide Announcement SEL-2023-10 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to employment offers
Fannie Mae issued Lender Letter LL-2023-04 and Freddie Mac issued Bulletin 2023-21, announcing new relief measures for a loan impacted by a COVID-19 Forbearance. Per
California passed a bill authorizing online notarizations and establishing requirements for the performance of online notarizations. An online notarization is a notarial act performed by
Illinois passed a bill allowing mortgage loan originators to work from a remote location. Under the bill, a mortgage lender, broker, servicer, or purchaser licensed
Maryland passed a bill amending the content of the Statutory Form Personal Financial Power of Attorney and the Statutory Form Limited Power of Attorney under
Iowa passed a bill enacting provisions with respect to mortgage trigger leads. Under the bill, a financial institution may not use an unfair or deceptive
Idaho amending signature requirements with respect to homestead property. Under the bill, the homestead of a married person cannot be conveyed or encumbered by a
Maryland passed a bill requiring an assumption provision be included in a conventional home mortgage loans. Under the bill, a conventional home mortgage loan must
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