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HUD Mortgagee Letter 2015-24: Single Family Foreclosure Policy and Procedural Changes for HUD Title II Forward Mortgages and Reverse Mortgages
The U.S. Department of Housing and Urban Development (HUD) released Mortgagee Letter 2015-24. The letter updates HUD’s Reasonable Diligence time frame, schedule of attorney fees for all jurisdictions and Cash for Key’s Relocation allowances.
1 Oct 2015
Fannie Mae LL-2015-05 Execution and Retention of Loan Modification Agreements
Fannie Mae released Lender Letter LL-2015-05. The letter reminds servicers of their responsibilities related to executing, recording and/or retaining loan modification agreements.
30 Sep 2015
VA Circular 26-15-21 Property Preservation Requirements and Fees
The U.S. Department of Veterans Affairs (VA) released Circular 26-15-21. The circular provides national guidance and describes minimum requirements for the inspection of properties securing VA-guaranteed home loans and the maintenance, preservation and repair of any properties found to be abandoned.
30 Sep 2015
VA Circular 26-15-22 Release of the Department of Veterans Affairs Servicer Handbook, M26-4
The U.S. Department of Veterans Affairs (VA) released Circular 26-15-22. The circular clarifies the date the VA Servicer Handbook will become effective.
30 Sep 2015
CFPB Reform Bills Pass in House Financial Services Committee
DS News published an article discussing the Bureau of Consumer Financial Protection-Inspector General Reform Act of 2015 (H.R. 957) and the Financial Product Safety Commission Act of 2015 (H.R. 1266).
30 Sep 2015
MHA HAMP Update Fannie Mae Security Update May Require Browser Setting Change
On September 30, Making Home Affordable (MHA) released a HAMP Update announcing that by the end of October 2015, MHA Program applications administered by Fannie Mae must be accessed using Transport Layer Security (TLS), which may require a Web browser setting change.
30 Sep 2015
CFPB Written Testimony of Richard Cordray Before the House Committee on Financial Services
The Consumer Financial Protection Bureau (CFPB) published a news release containing the written testimony of Richard Cordray before the House Committee on Financial Services in regards to the CFPB’s latest Semi-Annual Report to Congress.
29 Sep 2015
FHLMC Guide Bulletin 2015-14 Prepare Now for New Settlement Automation for Third-Party Foreclosure Sales
Freddie Mac issued a release announcing new automated settlement functionality for liquidation transactions in Workout Prospector®, which will be available on November 16, 2015.
29 Sep 2015
FHFA AB 2015-07 Fraud Risk Management
The Federal Housing Finance Agency (FHFA) released an Advisory Bulletin which communicates to Fannie Mae and Freddie Mac the FHFA’s supervisory expectations for fraud risk management, including the establishment and maintenance of internal controls to prevent, deter and detect fraud or possible fraud.
29 Sep 2015
GAO-15-783: FEMA Needs to Cohesively Manage Its Workforce and Fully Address Post-Katrina Reforms
The U.S. Government Accountability Office (GAO) released GAO-15-783, a report detailing the need for the Federal Emergency Management Agency (FEMA) to prioritize its workload and manage its workforce when a disaster hits.
29 Sep 2015
FHFA: Foreclosure Prevention Actions Top 3.5 Million Through Second Quarter 2015
The Federal Housing Finance Agency (FHFA) issued a news release discussing findings from its second quarter Foreclosure Prevention Report.
28 Sep 2015
HUD Mortgagee Letter 2015-21: Automatic Extensions to HUD’s Initiation of Foreclosure Timeline
The U.S. Department of Housing and Urban Development (HUD) released Mortgagee Letter 2015-21. The letter provides guidance relating to HUD’s regulatory requirement for mortgagees to utlize a Loss Mitigation Option or initiate foreclosure within six months of the date of default.
28 Sep 2015
Fannie Mae Updated Florida AAA Matrix
Fannie Mae has added an updated version of the Florida AAA Matrix which is now available on its Excess Attorney Fee Guidelines page.
25 Sep 2015
FEMA Declared Disaster California
On September 24, 2015, FEMA issued an update to a Presidential Major Disaster Declaration for areas in California as a result of the Valley/Butte Fires beginning on September 9, 2015 and continuing.
24 Sep 2015
Fannie Mae Utilizes Technology to Achieve Housing Goals
DS News published an article discussing various Fannie Mae technology tools that are available for servicers to aid at-risk borrowers in foreclosure prevention. These tools can be found on Fannie Mae’s new Technology Solutions webpage.
24 Sep 2015
NeighborWorks Report Illustrates the Ongoing Success of National Foreclosure Mitigation Counseling Program
The National Council of State Housing Agencies (NCSHA) released an article discussing NeighborWorks America’s eleventh Congressional Report on the National Foreclosure Mitigation Counseling (NFMC) Program.
24 Sep 2015