Archives For: Investor and Regulatory Updates
Fannie Mae issued a release announcing a number of updates relevant to servicers. Included are changes to pre-modification housing expense-to-income ratio calculation for imminent default and cash contribution, updated instructions to servicers regarding escrow shortages that are part of the full monthly contractual payment, and an update to the Mortgage Assistance Application (Form 710).
10 Jun 2020
The U.S. Department of Veterans Affairs (VA) issued a circular clarifying inspection requirements for properties purchased with VA guaranteed loans where the borrowers have been impacted by Coronavirus Disease 2019 (COVID-19).
8 Jun 2020
Fannie Mae announced that in an effort to streamline servicer submissions for Grass Cut (Property Services) and Attorney Fee expenses, multiple subcategories will be deactivated in LoanSphere Invoicing and new sub-categories will be delivered, effective Aug. 1, 2020. This change will result in a net reduction of 28 subcategories.
3 Jun 2020
The Federal Housing Finance Agency (FHFA) released the latest report on the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac.
1 Jun 2020
The U.S. Department of Veterans Affairs (VA) updated a circular announcing a new automated Appraisal Management Service for use in enhancing the appraisal review process prior to issuance of the Notice of Value.
27 May 2020
The U.S. Department of Veterans Affairs (VA) issued an amendment to a circular that supplements the VA Lenders Handbook, Chapter 8, Topic 8, The VA Funding Fee, and updates Chapter 6, Refinancing, concerning Interest Rate Reduction Refinancing Loans (IRRRLs).
22 May 2020
Comptroller of the Currency Joseph M. Otting has announced that he will step down from office on May 29. Pursuant to 12 USC 4 (as designated by Secretary of the Treasury Steven T. Mnuchin), First Deputy and Chief Operating Officer Brian P. Brooks will become acting comptroller of the currency.
21 May 2020
The Federal Housing Finance Agency (FHFA) published a white paper updated to include two major changes to its Mortgage Analytics Platform.
21 May 2020
Freddie Mac issued a release outlining upcoming changes to its Servicing Gateway platform scheduled to become effective on May 25, 2020.
18 May 2020
The Federal Housing Finance Agency (FHFA) issued its February 2020 Foreclosure Prevention, Refinance and FPM Report.
14 May 2020