VA issued Circular 26-18-23, describing measures mortgagees may employ to provide relief to home loan borrowers affected by Hurricane Michael. The measures include: the forbearance of loan payments; a 90 day foreclosure moratorium; the waiver of late charges; and the suspension of credit bureau and VA reporting.
Fannie Mae
Fannie Mae Updates Area Median Incomes used to Determine Borrower Eligibility for HomeReady, RefiNow and Duty to Serve Loans
Fannie Mae updated the area median incomes (AMIs) used to determine a borrower’s eligibility for HomeReady, RefiNow, and Duty to Serve loans. The 2024 AMIs