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.
Fannie Mae announces effective February 1, 2021, the LoanSphere Invoicing application will be updated with a new line item and subcategory for Post Payoff PD Reimbursement requests, in the General Services category.
Fannie Mae has updated the instructions for the Oklahoma Mortgage (Form 3037) to reflect a new authorized change.
Search our Compliance Calendar for current
regulatory changes & updates from Fannie,
Freddie, FHA, VA, and USDA.
Fannie Mae and Freddie Mac has published guidelines for preparing for the UCD Critical Edits Phase 1 effective May 31, 2021.
Fannie Mae's latest issue of Quality Insider highlights the importance of reverifications during the post-closing QC review.
Mortgage Bankers Association – Michael Tucker
Freddie Mac projects multifamily origination volume will bounce back, rising to $340 billion by year-end as another federal stimulus package boosts the economy.
Effective immediately, FHA updates the COVID-19 forbearance start date and the COVID-19 Home Equity Conversion Mortgage (HECM) extension Period.
Fannie Mae announced effective January 25, 2021, its Delinquency Early Warning System (DEWS) provides CSV Bulk uploading functionality.
Mortgage Professional America – Candyd Mendoza
Janet Golrick was appointed acting FHA commissioner by President Joe Biden.
Mortgage Professional America – Candyd Mendoza
Fannie Mae appoints board member Ryan Zanin as the mortgage firm’s executive vice president and chief risk officer.
M Reports – Christina Hughes Babb
The United States Senate Committee on Banking, Housing, and Urban Affairs will hold a nomination hearing for the Honorable Marcia L. Fudge, to be Secretary of the U.S. Department of Housing and Urban Development, and also for the Honorable Cecilia E. Rouse, to be Chair, of the Council of Economic Advisers January 28.
FHA Mortgagee Letter 2021-03 announces an extension to the foreclosure and eviction moratorium originally issued in ML 2020-04, extended in MLs 2020-13 and 2020-19, 2020-27, and further extended in ML 2020-43 for borrowers with FHA-insured Single Family mortgages covered under the Coronavirus Aid, Relief, and Economic Security (CARES) Act for an additional period through March 31, 2021.
The “New GUS” will be implemented on March 1, 2021, and in preparation, several chapters in Handbook 1-3555 will be updated and USDA is providing 30 days to review the upcoming proposed changes to HB-1-3555, Chapters 2, 5, 8, 10, 12, 15, Form RD 3555-21, and Appendix 7.
DS News – Christina Hughes Babb
The U.S. Department of Housing and Urban Development (HUD) proposes a new rule for the National Standard for Physical Inspection of Real Estate (NSPIRE).
USDA announced an extension to the foreclosure and eviction moratoriums, as well as the first legal action and reasonable diligence timelines until March 31, 2021; additionally, lenders may approve the initial 180-day COVID-19 Forbearance no later than the earlier of the termination date of the national emergency declared by the President on March 13, 2020 or March 31, 2021.
