FHA adopted a rule permitting private flood insurance for FHA-insured mortgages. Per the rule adoption, FHA will now allow borrowers the option to purchase a
Fannie Mae issued Lender Letter LL-2022-05, waiving loan-level price adjustments (LLPAs) for HomeReady loans, loans for first-time homebuyers with income at or below applicable area
Pennsylvania passed a bill amending breach of security requirements. The bill provides an alternate method of providing notice of a breach of security in the
Freddie Mac issued Bulletin 2022-23 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Enhanced Loan Product Advisor (LPA) to allow
Freddie Mac issued Bulletin 2022-22 (Bulletin) announcing changes related to credit fee caps and credits for credit fees. Per the Bulletin, Freddie Mac: Introduced new
VA revised chapter 9 of the Lender’s Handbook (M26-7). Chapter 9 (Topic 3) was revised to include the permissibility of attorney opinion letters where customary
Fannie Mae issued Servicing Guide Announcement SVC-2022-07 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae: Increased property valuation fees for
Freddie Mac issued Bulletin 2022-21 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: expanded capabilities for processing Payment Deferral and
RHS revised chapter 11 of the Single Family Housing Guaranteed Loan Program Technical Handbook (HB-1-3555). The updates to chapter 11 pertain to the total debt
Fannie Mae issued Selling Guide Announcement SEL-2022-09 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Updated documentation requirements with respect
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