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regulatory changes & updates from Fannie,
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The Compliance NewsHub delivers mortgage, credit and compliance headlines and breaking news to help compliance and quality control professionals easily find relevant news and important regulatory dates.
Fannie Mae announced that effective April 19, servicers must use the Servicing Management Default Underwriter™ (SMDU™) user interface to retrieve the results of valuation requests for short sales, Mortgage Releases™, and/or Reserve Price Bid Instructions placed via the Valuation Management System (VMS).
View SourceFannie Mae has posted the April Appraiser Quality Monitoring (AQM) list.
View SourceSearch our Compliance Calendar for current
regulatory changes & updates from Fannie,
Freddie, FHA, VA, and USDA.
Fannie Mae has updated LL-2021-04 to extend the effective date of appraisal flexibilities through May 31, 2021, which will be the final extension for these flexibilities.
View SourceFreddie Mac Bulletin 2021-15 extends the effective date through May 31, 2021, for appraisal flexibilities; completion report flexibilities, including builder certification and GreenCHOICE® Mortgage flexibilities; and CHOICERenovation® Mortgage flexibilities.
View SourceThe Small Business Administration (SBA) extended the Paycheck Protection Program application period through May 31, as well as the SBA processing period an additional 30 days.
View SourceMortgage Bankers Association – Mike Sorohan
The Mortgage Bankers Association sent a letter expressing support–and concern–for several bills under the Committee’s consideration.
View SourceNew York Senate Bill 2508 PART LL extends the "covered period" for forbearance of residential mortgage payments from March 7, 2020, until the latter of December 31, 2021, or the date on which COVID-19 Executive Orders continue to apply in the county of the qualified mortgagor's residence.
View SourceMortgage Professional America – David Kitai
Fannie Mae is using its position to diversify the housing industry.
View Source