Archives For: Investor and Regulatory Updates
VA: VALERI Servicer Newsflash
The U.S. Department of Veterans Affairs (VA) issued a release containing a number of updates relevant to servicers. Included is a reminder when reporting the Electronic Default Notice (EDN) Event on loans less than 61 days delinquent and State Foreclosure Process matrix typographical error corrections.
27 Aug 2019
OCC Bulletin 2016-20: Flood Disaster Protection Act
The Office of the Comptroller of the Currency (OCC) issued a bulletin outlining revised interagency Flood Disaster Protection Act (FDPA) examination procedures that reflect private flood insurance requirements that became effective on July 1, 2019.
27 Aug 2019
VA: VALERI Special Announcement
The U.S. Department of Veterans Affairs (VA) issued a VALERI Special Announcement announcing an additional extension for required servicer documentation relating to Adequacy of Servicing (AOS) processes.
16 Aug 2019
FHFA: Fannie Mae and Freddie Mac Dodd-Frank Act Stress Test Results
The Federal Housing Finance Agency (FHFA) released a report providing results of the annual stress tests Fannie Mae and Freddie Mac are required to conduct under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
15 Aug 2019
Fannie Mae: Lender Letter LL-2019-07: Advance Notice of Principal and Interest Drafts for Scheduled/Scheduled and Scheduled/Actual Portfolio Mortgage Loans
Fannie Mae issued a release providing advance notification to servicers of changes that will simplify and streamline the cash remittance and reconciliation process.
14 Aug 2019
Freddie Mac: FHLMC Guide Bulletin 2019-18: Servicing Updates
Freddie Mac issued a release announcing servicing updates that will provide greater flexibility and opportunities for operational efficiency.
14 Aug 2019
HUD: FHA INFO #19-40: Training Opportunities
The U.S. Department of Housing and Urban Development (HUD) issued single family housing and news updates in FHA INFO #19-40.
9 Aug 2019
VA: Circular 26-19-22: Clarification and Updates to Policy Guidance for VA Interest Rate Reduction Refinance Loans (IRRRLs)
The U.S. Department of Veterans Affairs (VA) issued a release that aims to consolidate and clarify guidance regarding how section 309 of Public Law 115-174, the Economic Growth, Regulatory Relief and Consumer Protection Act, affects IRRRLs.
8 Aug 2019
Fannie Mae: MI Termination in SMDU Starting Soon
Fannie Mae reminded servicers that borrower-initiated mortgage insurance (MI) termination must be processed in the Servicer Management Default Underwriter (SMDU) for both Original Value and Current Value beginning on September 1, 2019.
7 Aug 2019
Fannie Mae: Extension of Cost of Funds Index
Fannie Mae issued a notice alerting servicers of an extension of the cost of funds index (COFI) for one additional year.
31 Jul 2019