Archives For: Investor and Regulatory Updates
Fannie Mae: LoanSphere Invoicing Line Item Updates
Fannie Mae announced that effective February 27, 2020, the LoanSphere Invoicing application will be updated with a new line item for the following reimbursable expense: “Initial Grass Cut – Less than 10,000 sq ft”. Additionally, the “Lawn Care – Less than 10000 sq ft” line item will be deactivated.
18 Dec 2019
Fannie Mae: SVC-2019-08: Servicing Guide Announcements
Fannie Mae announced a number of updates relevant to sellers/servicers. Included is the introduction of a payment shortage tolerance that authorizes a servicer to accept a mortgage loan payment that is deficient by $50 or less for up to three monthly payments during a 12 month period.
11 Dec 2019
VA: VALERI Servicer Newsflash
The U.S. Department of Veterans Affairs (VA) issued a release containing important information relating to VALERI reports and servicer department contacts.
10 Dec 2019
USDA: Single Family Housing Guaranteed Loan Program Integration Update
The U.S. Department of Agriculture (USDA) issued a release outlining the imminent transition of the Single Family Housing Guaranteed Loan Program (SFHGLP) to an integrated, national model. The transition will begin on December 8, 2019.
6 Dec 2019
HUD: FHA INFO #19-59: 2020 Nationwide Home Equity Conversion Mortgage Limits
The U.S. Department of Housing and Urban Development (HUD) issued single family housing and news updates in FHA INFO #19-59.
3 Dec 2019
HUD: Major Disaster Recovery Support Announcement
The U.S. Department of Housing and Urban Development (HUD) announced the allocation of more than $2.3 billion to support the long-term disaster recovery process in hard-hit areas in fifteen states, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, American Samoa and the Commonwealth of the Northern Mariana Islands.
3 Dec 2019
Freddie Mac: Reining in Reverse Occupancy
Freddie Mac published an article exploring reverse occupancy misrepresentation. Potential indicators associated with this type of fraudulent behavior are highlighted for servicer/lender reference.
3 Dec 2019
FHFA: Non-performing Loan Sales Report
The Federal Housing Finance Agency (FHFA) released the latest report on the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac.
2 Dec 2019
OCC Bulletin 2019-60: Other Real Estate Owned: Final Rule
The Office of the Comptroller of the Currency (OCC) issued a release outlining a recently published final rule associated with other real estate owned (OREO) activities for national banks and federal savings associations.
26 Nov 2019
MHA: Thanksgiving Holiday Support and System Availability
Making Home Affordable (MHA) outlined system availability for the upcoming Thanksgiving holiday.
21 Nov 2019