Archives For: Investor Update
Freddie Mac: FHLMC Guide Bulletin 2020-28: Eligible Disasters and Other Servicing Guidance Related to COVID-19
Freddie Mac announced a number of updates relevant to servicers. Included is guidance related to eligible disasters and the introduction of the Disaster Payment Deferral.
15 Jul 2020
HUD: FHA INFO #20-50: Updated Servicing and Loss Mitigation Section Draft of the Single Family Housing Policy Handbook
The Federal Housing Administration (FHA) has posted a draft revision of the Servicing and Loss Mitigation section (Section III) of the Single Family Housing Policy Handbook 4000.1 on the Single Family Housing Drafting Table for public review and feedback.
14 Jul 2020
HUD: FHA INFO #20-47: Enhancements to FHA’s Claims Without Conveyance of Title (CWCOT) Procedures
The U.S. Department of Housing and Urban Development (HUD) announced enhancements to the FHA’s CWCOT procedures, which must be used for all foreclosure sales and any post-foreclosure sales efforts pursued by the mortgagee.
7 Jul 2020
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 guidance relating to North Carolina pre-foreclosure notice of hearing and Colorado foreclosure sales.
18 Jun 2020
Fannie Mae: SVC-2020-02: Servicing Guide Update
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
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
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: Extended Comment Period for Proposed Minimum Financial Eligibility Requirements for Fannie Mae and Freddie Mac Seller/Servicers
The Federal Housing Finance Agency (FHFA) announced a 30-day extension on the comment period for a proposed update to the minimum financial eligibility requirements for Fannie Mae and Freddie Mac seller/servicers.
31 Mar 2020
Freddie Mac: FHLMC Guide Bulletin 2020-06: Payment Deferral
On March 25, Freddie Mac announced the introduction a payment deferral relief option that can help homeowners with an early delinquency due to a short-term hardship situation that has since been resolved.
25 Mar 2020
FHFA: Stress Testing of Regulated Entities
The Federal Housing Finance Agency (FHFA) announced the adoption of a final rule that amends its stress testing rule, consistent with section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection Act.
24 Mar 2020