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.
The Federal Housing Administration (FHA) announced effective October 27, 2023, they will implement security enhancements that will require the use of multi-factor authentication (MFA) to access certain of its websites and systems.
Fannie Mae published Release 23.3, which includes new features for DUS 360.
Search our Compliance Calendar for current regulatory changes & updates.
The Federal Housing Administration (FHA) published the Federal Register (FR) Notice for public comments, which outlines changes to the Home Equity Conversion Mortgage for Purchases Program.
Fannie Mae has posted the October Appraiser Quality Monitoring list.
Fannie Mae announced that at the direction of FHFA and in alignment with Freddie Mac, loans previously or currently in a COVID-19 forbearance may be eligible for relief from enforcement of representations and warranties using the criteria that apply to loans subject to a disaster-related forbearance in Selling Guide A2-3.2-02, Enforcement Relief for Breaches of Certain Representations and Warranties Related to Underwriting and Eligibility (the “framework”).
Freddie Mac announced at the direction of the FHFA and in alignment with Fannie Mae that, similar to their requirements for mortgages subject to a disaster-related forbearance plan, mortgages previously or currently in COVID-19 forbearance may be eligible for relief from enforcement of representations and warranties under the representations and warranties framework (“the framework”) as described in Guide Section 1301.11 and this Guide Bulletin.
"ACES has made my life so much easier from a QC perspective. It's life-changing"
- Kelly Cooper Spencer, QC & Business Intelligence Data Manager at Thrive Mortgage
On October 16, 2023, Fannie Mae published Appraiser Independence Requirement (AIR) FAQs to provide additional information in response to common questions about the Appraiser Independence Requirements.
In this mortgagee letter, FHA announced Revisions to Rental Income Policies, Property Eligibility, and Appraisal Protocols for Accessory Dwelling Units, which provide expanded financing options for borrowers seeking to purchase properties with an accessory dwelling unit (ADU), rehabilitate existing structures to add ADUs or construct new homes with ADUs.
Fannie Mae announced the maintenance window for the UCD Collection Solution will change to align
with other Delivery application maintenance windows, starting November 4, 2023.
Fannie Mae announced they will migrate the Uniform Closing Dataset (UCD) Environment from an on-premises application to the cloud.
"By partnering with ACES, we have witnessed an overall improvement in the quality of our reviews."
-Hilda Melendez, Quality Control Systems Director at Lennar Mortgage
Procedure Notice PN 594 announces updates to HB-1-3555 Chapters 8, 14, and Appendix 3.
The purpose of this Circular is to clarify how servicers should evaluate a borrower for a COVID-19 Refund Modification under Step B of the COVID-19 Home Retention Waterfall.
The purpose of this Circular is to clarify procedures related to The Department of Veterans Affairs (VA) funding fee exemption determinations and how refund requests should be submitted.
On October 10, 2023, Fannie Mae published an update to its Loan Servicing Data Utility (LSDU) User Guide, a suite of self-service tools providing a near real-time view of Fannie Mae loan data and data exceptions.
