VA issued Circular 26-21-11 to clarify processes relating to the remittance of the statutory funding fee. Per the Circular, VA is concerned that lenders are
Fannie Mae issued Lender Letter LL-2021-13 to announce the elimination of the adverse market refinance fee. The adverse market refinance fee is currently charged in
Freddie Mac issued a single-family update notice to announce the elimination of the market condition credit refinance fee. The market condition credit refinance fee is
North Dakota passed a bill amending the Money Brokers Act (MBA). Under the Bill, a lender licensed under the MBA may not collect finance charges
Fannie Mae issued Servicing Guide Announcement SVC-2021-04 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae: broadened the requirements for acceptance
Oregon passed a bill removing gender identity from the definition of sexual orientation in state law and creating a new standalone definition of gender identity.
Fannie Mae issued Selling Guide Announcement SEL-2021-06 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Updated asset documentation requirements for
Freddie Mac issued Bulletin 2021-25 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Announced affordable housing and lending guide updates
FHA issued FHA Info #21-49 announcing enhanced capabilities in the FHA Catalyst: Claims Binder Module. Per the update, lenders and servicers may now use the
The CFPB issued the 2021 Mortgage Servicing COVID-19 final rule amending early intervention and loss mitigation requirements under the Real Estate Settlement Procedures Act. The
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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