VA issued Circular 26-21-26 to clarify the funding fee determination for borrowers purchasing or constructing a home with a 5% or 10% down payment. Per
Fannie Mae issued Selling Guide Announcement SEL-2021-11 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: modified the definition of principal
Freddie Mac issued Bulletin 2021-38 (Bulletin) establishing temporary review requirements for certain condominium and cooperative share projects. Per the Bulletin, Freddie Mac established temporary project
VA issued Circular 26-21-23 (Circular), describing measures mortgagees may employ to provide relief to home loan borrowers affected by severe storms, straight-line winds, flooding, and
The CFPB issued the 2021 LIBOR Transition rule (Rule) amending the Truth in Lending Act (TILA) to address the sunset of LIBOR (which is expected
Fannie Mae issued Servicing Guide Announcement SVC-2021-08 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae consolidated property insurance requirements applicable
Freddie Mac issued Bulletin 2021-37 (Bulletin) updating modification agreement requirements. Per the Bulletin, servicers are no longer required to prepare 2 original modification agreements for
FHA issued a partial waiver extending the face-to-face interview requirement for borrowers in default. The partial waiver allows lenders and servicers to continue to utilize
Freddie Mac issued Guide Bulletin 2021-36 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Addressed the use of cryptocurrency in
FHA issued Mortgagee Letter 2021-28 to announce the forward mortgage loan limits for 2022. The 2022 “floor” and “ceiling” loan limits for a one-unit property
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