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 published Master Servicing Frequently Asked Questions to provide information and responses to common questions.
FHA is enhancing its FHA Connection system to support changes announced in Mortgagee Letter 2023-17 which provided expanded financing options for borrowers seeking to purchase, rehabilitate, or construct properties with existing or for the purpose of adding accessory dwelling units (ADU's).
Search our Compliance Calendar for current regulatory changes & updates.
FHA is extending the foreclosure moratorium for borrowers with FHA-insured mortgages in Maui County, Hawaii.
FHA is again extending its temporary regulatory waiver and related Single Family Housing Policy Handbook 4000.1 waiver, which allows mortgagees to utilize alternative methods for conducting meetings with borrowers in accordance with FHA’s early default intervention requirements until May 31, 2024.
This VA circular notifies lenders, servicers, Veterans, and other external stakeholders that RLC-based Outlook mailboxes used for submitting customer service inquiries or program-specific questions to construction and valuation and specially adapted housing personnel will be decommissioned and transitioned to a ServiceNow Portal found here: https://www.benefits.va.gov/HOMELOANS/contact.asp.
Fannie Mae published an update to its Appraisal and Property Related frequently asked questions.
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The USDA announced they have partially revised Exhibit B to update the Treasury Judgement rate and the effective date of November 1, 2023.
Fannie Mae has published a step-by-step guide for mortgage sellers and servicers to complete Form 520.
The Department of Housing and Urban Development issued Mortgagee Letter 2023-19, Extension of the Foreclosure Moratorium in Connection with the Presidentially-Declared Major Disaster in Maui County, Hawaii, extends the requirement for mortgage servicers to halt all foreclosure actions in Maui County through at least May 6, 2024.
On November 2, 2023, the U.S. Department of Housing and Urban Development (HUD) issued ML-2023-18 updating the sales comparison approach for manufactured housing effective immediately.
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The Federal Housing Administration (FHA) announced they are seeking industry feedback on the proposed updates to the Home Equity Conversion Mortgage Program.
Fannie Mae announced they had identified an issue with the auto-payment process for capitalized advances on loan modifications and, due to the auto-generation of claims in Property 360™, will be retired for loan modifications completed/closed on or after Nov. 1, 2023.
In this bulletin, Fannie Mae announced that the Selling Guide has been updated to include changes to employment offers or contracts, lender staffing, training, policies and procedures, and Shared appreciation.
On October 31, 2023, the Federal Housing Administration (FHA) released the publication of consolidated Home Equity Conversion Mortgage (HECM) sections of the Single-Family Housing Policy Handbook 4000.1.
