California passed a bill amending state foreclosure laws under the nonjudicial foreclosure process. Under the bill, a foreclosure sale may now be postponed if an
FHA issued Mortgagee Letter 2024-25 extending the foreclosure moratorium for properties located in Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia affected by Hurricanes
Fannie Mae issued an update to Lender Letter LL-2024-01 to extend the $2,500 loan-level price adjustment (LLPA) credit for one additional year and to add
FHA issued Mortgagee Letter 2024-24 modernizing requirements for a loss mitigation consultation with borrowers in default. On August 2, 2024, FHA adopted a rule modifying
Freddie Mac issued Bulletin 2024-16 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to refactoring chapter 1302 are
Maryland adopted a rule requiring a shared appreciation disclosure be provided to a borrower in connection with a shared appreciation agreement. Under the adopted rule,
Texas repealed and readopted rules governing mortgage lenders, brokers, loan originators and servicers licensed or registered under the Residential Mortgage Loan Company Licensing and Registration
FHA extended the compliance date for portions of the Modernization of Engagement with Mortgagors in Default Final Rule. In August, 2024, FHA adopted the Modernization
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
FHA issued Mortgagee Letter 2024-20 implementing Federal Flood Risk Management Standards for new construction properties located in Special Flood Hazard Areas. On April 23, 2024,
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