Maine passed a bill authorizing remote notarizations and establishing requirements for the performance of remote notarizations. A remote notarization is a notarial act performed using
FHA issued Mortgagee Letter 2021-16 to extend temporary verification of self-employment, rental income and 203(k) rehabilitation escrow account provisions due to COVID-19. The temporary provisions
Freddie Mac issued Bulletin 2021-17, introducing the Refi Possible refinance mortgage. Per the Bulletin, the Refi Possible mortgage is a new “no-cash out” refinance mortgage
Freddie Mac issued Bulletin 2021-21 announcing a cap structure on the sale of mortgages secured by second home and investment properties. Per the Bulletin, for
Fannie Mae issued a modified Lender Letter LL-2021-10, to update RefiNow requirements related to eligible subordinate financing, borrower’s payment history, and base income documentation. The
RHS announced the expiration of the temporary verification of employment, appraisal and repair inspection provisions implemented on March 27, 2020 due to COVID-19. The temporary
FHA issued Mortgagee Letter 2021-14, extending the implementation date of the April 19, 2021 publication of the Single Family Housing Policy Handbook (Handbook 4000.1). Per
FHA issued Mortgagee Letter 2021-13, modifying the calculation of student loan payments for purposes of determining debt-to-income ratios. Per the Mortgagee Letter, lenders must now
FHA issued Mortgagee Letter 2021-15 to establish the new COVID-19 Advance Loan Modification option, to extend the COVID-19 foreclosure and eviction moratorium, and to expand
Freddie Mac issued Bulletin 2021-23 to extend the COVID-19 foreclosure moratorium through July 31, 202. Per the Bulletin, the foreclosure moratorium does not apply to
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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