VA issued Circular 26-21-07, updating home retention options and alternatives to foreclosure for borrowers affected by COVID-19. Per the Circular, VA now permits servicers to

Freddie Mac issued Guide Bulletin 2021-11, announcing an updated eligibility requirement for mortgages secured by investment properties or second homes. Per the Bulletin, a manually

Minnesota passed a bill requiring lenders and servicers to communicate with third-party designees and independent counseling agencies in the event of reverse mortgage loan default.

New York passed a bill amending the state’s power of attorney requirements. Under the bill, the principal’s signature on a power of attorney must be

Minnesota passed a bill amending provisions with respect to foreclosure consultants and equity purchasers. Under the bill, foreclosure consultants are now referred to as “solicitors”

New York passed a bill amending the content of the “notice to tenant” provided to tenants following a foreclosure sale. Under the bill, the “notice

Utah passed a bill amending mailing requirements with respect to a Cancellation of Notice of Default. Under the bill, if a default is cured and

The District of Columbia passed a bill extending the temporary foreclosure moratorium, payment deferment program and remote online notarization provisions due to COVID-19. The temporary

RHS amended guidance relating to the treatment of Mortgage Credit Certificates (MCC) in the new Guaranteed Underwriting System (GUS). In the new GUS, an MCC

FHA issued Mortgagee Letter 2021-08, updating Home Equity Conversion Mortgage (HECM) requirements with respect to interest rate changes. Per the Mortgagee Letter, FHA: removed approval