VA issued Circular 26-23-25 to announce a temporary foreclosure moratorium for borrowers. The Circular strongly encourages servicers to establish a moratorium on initiating, continuing, and/or
FHA issued Mortgagee Letter 2023-23 announcing updated servicing requirements for the Home Equity Conversion Mortgage Program (HECM). Key updates include: Revisions related to aligning post-due
Fannie Mae issued an update to Servicing Guide Announcement SVC-2023-05 (Announcement), setting forth updates to the Servicing Guide. Per the updated Announcement, Fannie Mae removed
Fannie Mae and Freddie Mac issued a Servicing Notice (Notice), announcing a change to the Refinitiv Public Replacement Index (Refinitiv) name. Per the Notice, the
VA revised Chapter 7, (Topic 7) of the Lender’s Handbook (M26-7). VA made the following changes: The revisions went into effect July 27, 2023. Click
VA revised chapter 4 of the Lender’s Handbook (M26-7). Chapter 4 (Topic 7) was revised to clarify that: The revisions are effective for all loan
FHA extended a partial waiver of the face-to-face interview requirement for borrowers in default. The partial waiver allows lenders and servicers to utilize alternative methods
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
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