Compliance Newshub
Agency | GSE News

Effective August 19, 2023, Fannie Mae will implement Loan Quality Connect™ version 6.1.1, which will implement the second phase of QC Calibration and enhancements to the Homestyle Renovation (HSR) Queue and resolution processes.

On August 9, 2023, Fannie Me announced in this Lender Letter that they are expanding their payment deferral policy.

On August 9, 2023, Fannie Me announced in this Lender Letter they would begin retiring their COVID-19-related flexibilities and reverting to the applicable Servicing Guide policy designed to assist borrowers in resolving their delinquencies regardless of hardship type.

On August 9, 2023, Fannie Me published this Lender Letter updates and changes to COVID-19 Payment Deferral, Flex Modification for COVID-19 impacted borrower, evaluation hierarchy for a borrower impacted by COVID-19, updates to the Investor Reporting Manually, and the Appendix.

On August 9, 2023, Freddie Mac published this bulletin updates and changes to COVID-19 temporary servicing guidance, expense reimbursement for preservation and maintenance of vacant properties, reimbursements for legal costs, contract noncompliance and contract change compensatory fee, and a few additional updates.

Fannie Mae has updated their Modification Interest Rate Exhibit providing the new Fannie Mae modification interest rate required for all Fannie Mae conventional mortgage loan modifications.

Effective September 18, 2023, Fannie Mae, Condo Project Manager TM (CPMTM), will be updated in accordance with the review requirements for condo project eligibility announced in the Selling Guide (SEL-2023-06).

On August 2, 2023, Fannie Mae released updates to its Appraiser Independence Requirements (AIR) FAQs.

Freddie Mac has updated its Selling Guide to include updates to; credit underwriting, Loan Product Advisor® asset, and income modeler, appraisals, and property data collection, and additional guide updates that include credit fee caps, claims event, and Freddie Mac’s claims glossary definitions and much more.

In accordance with 7 CFR 3550.56 and HB-1-3550, Paragraph 5.3 (C)(1), USDA Rural Development has concluded the 90-day public notice and comment period and has reviewed areas under its jurisdiction to identify areas that no longer qualify as “Rural” for housing programs as well as areas that will now be considered as eligible rural areas and have provided an updated rural area map.

Fannie Mae has updated the Selling Guide to include changes to; appraiser and property data collector independence requirements and miscellaneous updates that include military addresses for credit reports, requirements for special servicer approval via Servicing Marketplace™, and triparty wiring instruction agreements.

The USDA announced launching two pilot programs to increase affordable homeownership opportunities for people on Tribal lands.