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.
On July 1, 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.
Procedure Notice PN 585 announces updates to INS-440.1 exhibit B, HB-1-3555 Chapter 8 and HB-1-3555 Chapters 5, 13, 15, and Appendix 4.
Search our Compliance Calendar for current regulatory changes & updates.
HUD announced updates to the underwriting standards for large multifamily loans in the Multifamily Accelerated Processing (“MAP”) Guide.
The June 2023 Loan Quality Advisor® releases include updates on total loan to value/home equity combined loan to value (TLTV/HTLTV), a Sales Contract vs. Concession Mismatch update and the Credit Reporting Companies (CRCs) and Technical Affiliates (TAs) Biannual updates.
Fannie Mae has issued a Fraud Alert involving income misrepresentation using fabricated/altered public records documenting alleged court-ordered child and spousal support payments originated in Northern California.
The Uniform Appraisal Dataset and Forms Redesign team has released additional documentation to support ongoing implementation efforts that supplement the initial documentation that was released in March 2023.
Presented by ACES Quality Management's EVP of Compliance, Amanda Phillips, and Ballard Spahr's Reid Herlihy, Richard Andreano, Jr., and Matthew Morr.
On June 27, 2023, Fannie Mae published a list of common questions about the features, requirements, and benefits of the RefiNow™ mortgage, an affordable refinancing option aimed at making it easier and less expensive for qualifying homeowners to reduce their monthly housing costs.
Fannie Mae announced that effective June 22, 2023, the Quick Exchange application used for requesting servicing and sub-servicing transfers (via Form 629 data submission) has been updated (1.6.0 release) with new functionality.
For applications dated on or after August 28, 2023, the Fannie Mae/Freddie Mac Form 1103, Supplemental Consumer Information Form (SCIF), will be required for collecting and reporting certain information from Borrowers.
On June 26, 2023, Fannie Mae released a Loan Delivery Enhancements guide that provides access to this year’s previous, current, and upcoming Loan Delivery updates in an easy-to-read format all in one document.
"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
On June 26, 2023, Fannie Mae released an EarlyCheck Enhancements overview that provides this year’s previous, current, and upcoming EarlyCheck updates in an easy-to-read format in an all-in-one document.
The USDA has issued a 0.125% interest rate increase for SFH Direct Programs, effective July 1, 2023.
DS News--Eric C. Peck
The U.S. Department of Housing and Urban Development’s Office of Housing has announced the formation of the Office of Manufactured Housing Programs as an independent office that will administer the department’s Manufactured Home Construction and Safety Standards, which establishes standards for the design and construction of manufactured homes to assure quality, durability, safety, and affordability.
Freddie Mac has expanded the AIM for income using direct deposits solution to include a borrower’s digital paystub data in the income assessment and other July LPA releases.
