FHA issued Mortgagee Letter 2023-17 establishing policies for accessory dwelling units. Per the Mortgagee Letter, FHA expanded financing options for borrowers seeking to purchase properties
VA issued Circular 26-23-12, Change 1, amending COVID-19 Home Retention Waterfall and COVID-19 Refund Modification requirements. Per the Circular, VA amended Section 7(a)(2) of the
Fannie Mae issued Servicing Guide Announcement SVC-2023-05 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae: default-related legal services. Revisions related
Freddie Mac issued Bulletin 2023-20 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to Resolve are effective October
VA issued Circular 26-23-19 to amend funding fee exemption determinations and how refund requests should be submitted. The amended procedures are effective October 2, 2023.
RHS revised chapters 8, 14, Appendix 3, and Appendix 5 of the Single Family Housing Guaranteed Loan Program Technical Handbook (HB-1-3555). The updates to chapter
Fannie Mae issued Selling Guide Announcement SEL-2023-09 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to rental income
Freddie Mac issued Bulletin 2023-19 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac updated rental income requirements by: Freddie Mac
RHS revised chapters 9 and 10 of the Single Family Housing Guaranteed Loan Program Technical Handbook (HB-1-3555). Specifically, RHS revised paragraphs 9.3, paragraph 9.4, and
VA issued Circular 26-22-16, Change 1, amending the stacking order for files selected for VA Full File Loan Review (FFLR). Per the Circular, VA deleted
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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