This topic consolidates all announcements, newsletters, bulletins, handbook/guide updates, and general news coming from FHFA, Fannie Mae, FHA, Freddie Mac, GNMA, RHS, and VA.
Fannie Mae announced the Quick Exchange application, used for requesting servicing and sub-servicing transfers (via Form 629 data submission), has been updated (2.1.0 release) effective 13, 2023.
On Friday, November 17th, 2024, the VA called on mortgage servicers to pause foreclosures on VA-guaranteed loans through May 31st, 2024, and extended their COVID-19 Refund Modification program through the same time period.
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Edits to the tax service fee and other minor edits to the USDA Handbook-1-3555, Chapter 7, and announced on November 21, 2023.
Revisions to the Lender Responsibilities (Chapter 4) and Ratio Analysis (Chapter 11) of the USDA Handbook HB-1-3555 are expected to be implemented on January 5, 2024.
On November 27, 2023, FHA will implement security enhancements that will require the use of multi-factor authentication when accessing FHA Connection and its applications.
The Federal Housing Administration (FHA) released its annual report to Congress on the financial status of FHA’s Mutual Mortgage Insurance Fund (MMI Fund) covering FHA’s Title II Single Family Mortgage Insurance programs for fiscal year (FY) 2023.
"ACES has shined a light on our productivity and empowered us to hold our teams accountable."
- Emilee Rada, Director of Lending Operations at Georgia's Own Credit Union
Effective immediately. FHA announced updates to allowable inspection fee limits for single-family homes associated with defaulted FHA-insured mortgages.
In this Lender Letter, HUD announced the extension of the foreclosure moratorium in connection with the Presidential Declared Major Disaster Area in Maui County, Hawaii, through May 6, 2024.
In this All-Participant Memorandum, Ginnie Mae announced they will complete the transition of the Single-Family and Manufactured Housing Program pooling from GiineNET to the new Single Family Pool Delivery Module (SFPDM) in MyGinnieMae on December 1, 2023.
Fannie Mae announced during the weekend of December 1, 2023, that they will implement the Uniform Property Dataset (UPD) version 1.1 to the Property Data API.
Automated compliance tests to ensure compliance on more loans in less time
The Federal Housing Administration (FHA) posted a draft Mortgagee Letter (ML) seeking industry feedback on updates on the Home Equity Conversion Mortgage (HECM) Assignment Eligibility.
The circular announces that the Lender’s Staff Appraisal Reviewer (SAR) Application, VA Form 26-0785; Servicer Staff Appraisal Reviewer (SAR) Application, VA Form 26-0829; and the $100 application fee should no longer be submitted to the Administrative and Loan Accounting Center (ALAC) physical address for fee payment processing and are to be submitted to VA electronically.
Fannie Mae announced the Condo Project Manager (CPM) will be updated on December 8, 2023, to enhance the clarity and consistency of the information provided for projects with an Unavailable status.
On November 8, 2023, Fannie Mae published a list of common questions about the features, requirements, and benefits of the RefiNow™ mortgage, an affordable refinancing option to make it easier and less expensive for qualifying homeowners to reduce their monthly housing costs.
