VA issued Circular 26-19-05, clarifying VA’s new policies regarding cash-out refinancing loans. In December of 2018, VA adopted rules amending requirements with respect to all cash-out refinancing loans. This Circular clarifies requirements with respect to loan-to-value, net tangible benefit, disclosures, loan seasoning, and fee recoupment. The clarified policies apply to all VA cash-out refinance loan applications taken on or after February 15, 2019.
Click Here to View the VA Circular 26-19-05
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Freddie Mac issued Bulletin 2024-05 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac updated Exhibit 93 (Evaluation Notices) to remove
VA revised chapter 9 of the Servicer’s Handbook (M26-4). Chapter 9 was retitled from “Refunds” to “VA Purchase”. Sections 9.01 and 9.02 were also updated
Iowa passed a bill authorizing employees to work at remote locations. Under the bill, a mortgage lender, broker, or servicer licensed under the Mortgage Bankers
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