Compliance Calendar

With Change 1 to VA Circular 26-23-3, VA is extending the effective date from February 1, 2023, to April 1, 2023.

With Change 1 to VA Circular 26-23-4, VA is extending the effective date from February 1, 2023, to April 1, 2023.

In this circular, the Veterans Benefits Administration (VA) extends the rescission date for the Guidance for Noncompliant Interest Rate Reduction Refinancing Loans (IRRRLs) from April 1, 2023, until this circular is rescinded.

In this bulletin, Freddie Mac reminds servicers of the upcoming effective dates when transitioning to Resolve and announces updates from Bulletin 2023-3.

This announcement outlines relief measures that holders and/or loan servicers of USDA Single Family Housing Guaranteed Loan Program (SFHGLP) mortgages should implement to assist USDA Rural Development (RD) borrowers affected by any Presidentially Declared Disaster or PDD. Homeowners impacted by these events may be eligible for temporary relief. Due to the magnitude and aftermath of a disaster, loan servicers must inspect properties that secure impacted SFHGLP loans to assess the extent of damage as well as the occupancy status, particularly if contact has not yet been made with the borrower.

This VA Circular announces a scheduled change to the VA funding fee rates for loans closed on or after April 7, 2023, as listed on the loan fee table located in

38 U.S.C. §3729(b)(2).

FHA has established a final date for requesting COVID-19 Forbearance and a COVID-19 Home Equity Conversion Mortgage (HECM) Extension through May 31, 2023.

In this lender letter, Fannie Mae announced changes to COVID-19-related policies previously published in LL-2021-02 on May 4, 2022.

The USDA has determined that a short period beyond the expiration of the COVID-19 National Emergency would be beneficial to both USDA borrowers and servicers and is extending the date by which a servicer may approve a borrower’s request for an initial COVID-19 forbearance to May 31, 2023.

Freddie Mae announced updates on property appraisals, condominium projects, servicing contract rights, and several other updates and reminders in this bulletin.

In this bulletin, Freddie Mac announces servicing updates to the custodial accounts, servicing contract rights, BPO, and updates from previous bulletins.

FHA has issued a partial temporary waiver to permit flexibility in submitting the Home Equity Conversion Mortgage (HECM) mortgagee’s original documents and endorsement.

The Selling Guide has been updated to include changes to the following:

▪ Valuation modernization: transitioning to a range of options to establish a property’s market value, with the

option matching the risk of the collateral and loan transaction

▪ Sweat equity: providing additional guidance on the use of sweat equity and nonprofit program providers

▪ Lender quality control updates: revising timelines and expectations for both prefunding and post-closing quality

control reviews

▪ Miscellaneous updates:

o Maintaining seller/servicer eligibility

o HomeStyle® Renovation indicator

o Government loan guaranty or insurance

The Federal Housing Administration (FHA) published updates to its Single-Family Housing Policy Handbook 4000.1, which includes language to clarify instruction, adds new guidance and information in Sections I, II, III, and IV and Appendix 3.0., and incorporates previously published Mortgagee Letters.

In this lender letter, Fannie Mae provides advance notice of upcoming changes to its Master Servicing processes and systems.

Mortgagee Letter 2023-02 has extended the period of time that single-family COVID-19 recovery options are available as well as expanding the availability of the options to additional borrowers.