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.
Freddie Mac announced updates to Resolve, firm minimum requirements, property valuation, payment deferral, and privacy and data protection in this bulletin, effective immediately unless otherwise noted.
This announcement updates the Loan Modification Agreement including additional instructions, updates Fannie Mae’s minimum requirements for law firms selected and retained for default-related legal services, and other miscellaneous updates.
Search our Compliance Calendar for current regulatory changes & updates.
On Friday, October 6th, 2023, Fannie Mae published an updated Modification Interest Rate that must be used when evaluating a borrower for a conventional mortgage loan modification.
On October 5, 2023, Fannie Mae published the UCD Collection Solution Enhancements guide, providing access to this year’s previous, current, and upcoming UCD updates.
On October 5, 2023, Fannie Mae published updated policy requirements for the borrower-initiated termination of conventional mortgage insurance (MI), simplifying evaluating borrower-initiated requests for MI termination.
Fannie Mae announced that on October 6, 2023, they implemented updates to the Credit Variance Administration System (CVASTM).
"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
The FHFA has published a summary of the second quarter of 2023 Uniform Appraisal Dataset (UAD) Aggregate Statistics Data File and Dashboard.
Fannie Mae announced during the weekend of November 18, 2023, that they will implement an update to Desktop Underwriter® (DU® ) Version 11.1, which includes changes in this release that will apply to loan casefiles submitted or resubmitted to DU on or after the weekend of Nov. 18, 2023.
Fannie Mae announced that during the weekend of November 18, 2023, they are updating Desktop Underwriter® (DU®) Version 11.1, which included changes to LTV Ratios, HomeStyle Energy, Social Security Number Message Retirement, Liability Payment including Taxes and Insurance Indicator and updates to align with the Selling Guide.
The Selling Guide has been updated to include changes to rental income documentation requirements for rental income used towards qualifying; employment and tax returns for self-employed borrowers; requirements for manufactured housing data plate information to be included in the appraisal report; clarifying policy that property data collection must be obtained and submitted to the Property Data API prior to the note date; and other miscellaneous updates to prefunding qc sampling requirements and thresholds for post-purchase adjustment of loan-level price adjustments.
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This Freddie Mac Guide Bulletin announces updates to rental income requirements; implementation dates for transitioning from the Freddie Mac Property Dataset (PDR v2.0) to the Uniform Property Dataset; desktop appraisal eligibility, and additional guide updates relating to student loans and privacy and data protection.
Fannie Mae announced that the Loan Servicing Data Utility (LSDU) will be enhanced to support the retirement of Servicer's Reconciliation Facility™ (SURF™).
Fannie Mae announced on September 29, 2023, that they implemented the Master Servicing Portfolio Manager 3.2, an application that offers services management oversight and self-service functionality related to performance, loan activities, and portfolio management that will help drive efficiency and straight-through processing.
Fannie Mae announced during the weekend of December 1, 2023, that they will implement the Uniform Property Dataset (UPD) version 1.0 to the Property Data API.
