Archives For: Investor and Regulatory Updates
Fannie Mae: LoanSphere Invoicing Line Item Consolidation
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
VA: Circular 26-20-14: Appraisal Review Requirements and Instructions
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
VA Circular 26-19-17: Funding Fee Guidance to Lenders and Servicers
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
OCC: Comptroller of the Currency Joseph Otting to Step Down
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
FHFA: Mortgage Analytics Platform (Version 2.0)
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: An Evolving Experience in Servicing Gateway
Freddie Mac issued a release outlining upcoming changes to its Servicing Gateway platform scheduled to become effective on May 25, 2020.
18 May 2020
FHFA: Foreclosure Prevention Report – February 2020
The Federal Housing Finance Agency (FHFA) issued its February 2020 Foreclosure Prevention, Refinance and FPM Report.
14 May 2020
HUD: Ben Carson Congratulates Brian Montgomery on Deputy Secretary Confirmation
HUD Secretary Ben Carson applauded the confirmation of Brian D. Montgomery to serve as department deputy secretary. As the second most senior official at HUD, Mr. Montgomery will manage the day-to-day operations of the agency and will advise and assist the secretary in leading the department’s nearly 8,000 employees.
12 May 2020
FHA Single Family Housing COVID-19 Q&A
HUD enhanced its COVID-19 FAQ resource to include expanded guidance for a variety of categories related to lending/servicing.
11 May 2020
HUD: Interagency COVID-19 Servicer Fact Sheet
HUD published an informational resource created for servicers with loans insured or guaranteed by the Federal Housing Administration (FHA), Department of Veterans Affairs (VA) or Rural Housing Service (RHS).
6 May 2020