Compliance Calendar

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Compliance Calendar for February 2023

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Freddie Mac Selling Update

Effective: February 1, 2023
Industry: Mortgage Lending
Source: Freddie Mac   Bulletin 2023-3 →
Tags: Property - Appraisal, Fees, Income
Details

Freddie Mac announces updates for affordable lending, desktop appraisals, property insurance, credit fees, and the age of tax returns in this bulletin.

Selling Guide Announcement

Effective: February 1, 2023
Industry: Mortgage Lending
Source: Fannie Mae   Fannie Mae Selling Guide Announcement (SEL-2023-01) →
Tags: Underwriting, Manufactured Homes, Credit - Liabilities, Refinance, Insurance
Details

This selling guide update helps to provide equitable and sustainable access to housing by expanding the use of site-built homes as comparable sales for MH Advantage® homes, and making enhancements to support borrowers with nontraditional credit, promotes safe and responsible lending by implementing new eligibility requirements for cash-out refinance transactions and makes several miscellaneous updates.

Fannie Mae Updates to Loan-level Price Adjustments

Effective: February 1, 2023
Industry: Mortgage Lending
Source: Fannie Mae   Fannie Mae Update to Lender Letter (LL-2022-05) →
Tag: Certification, Endorsement, and Delivery
Details

Fannie Mae has updated LL-2022-05, Updates to Loan-level Price Adjustments, to include details about the removal of the requirement for Special Feature Code (SFC) 873. Lenders can stop delivering SFC 873 as our internal pricing system will determine when the waiver applies for whole loans delivered and purchased on and after March 1 and loans delivered into March 1 issue MBS pools beginning Feb. 1.

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