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.
This bulletin announces updates to Freddie Mac's Refi Possible mortgages to expand the eligibility of this offering to assist more low to moderate income borrowers refinance their loans.
This bulletin announces revisions to seller/servicer and related third party risk mitigation requirements, adjustments to the modification loss amount calculation in loans subject to an indemnification agreement, publication of the enterprise 11th District COFI Replacement Index dedicated web page and more.
Search our Compliance Calendar for current
regulatory changes & updates from Fannie,
Freddie, FHA, VA, and USDA.
Freddie Mac has provided another Single-Family Fraud Risk (SFFR) investigation to illustrate steps that can be taken to combat fraud.
Fannie Mae has reissued the Cost of Funds Replacement Index Servicing Notice to include a link to the page where Freddie Mac will post the Enterprise 11th District COFI Replacement Index after the Federal Home Loan Bank of San Francisco ceases publication of its 11th District Monthly Weighted Average COFI.
During the weekend of Dec. 4, Fannie Mae will update DU to version 11.0 to include updates to RefiNow™ guidelines and messages, a new credit score message, an updated message for rent payment history, and more.
Fannie Mae is providing notice of upcoming changes to replace requirements for unrecorded assignments of mortgage for loans not registered with MERS to a one-time delivery of limited powers of attorney (Form 520), which sellers/servicers are encouraged to submit now but must complete and deliver by March 1, 2022.
LL-2021-10 Expanding Refinance Eligibility with RefiNow™ has been updated to include changes to requirements for borrower income limits, monthly savings, financing closing costs, and loan seasoning.
USDA announces that Fiscal Year (FY) 2022 funding for Rural Development’s Single-Family Housing Guaranteed Loan Program is available as authorized by H.R. 5305.
The USDA announced funding for the fiscal year 2022 for Rural Development’s Single-Family Housing Guaranteed Loan Program is now available.
Freddie Mac announces Loan Product Advisor® (LPASM) updates to certain adjustable-rate mortgages (ARMs), asset and income modeler (AIM), LPA Feedback Certificates for gifts and grants, and a correction of credit assessment date to align with the Single-Family Seller/Servicer Guide (Guide), in addition to changes to a Loan Quality Advisor® feedback message that notifies system-to-system (S2S) clients when they have exceeded a file size limit.
Mortgage Bankers Association
The Federal Housing Finance Agency (FHFA) raised the 2022 multifamily loan purchase caps for the GSE's to $78 billion each.
VA published a newsflash to provide information on Circular 26-21-17, Circular 26-21-19, Circular 26-21-20, VA Partial Claim Note and Mortgage, and COVID-19 Refund Modification.
Fannie Mae announces Servicing Guide updates including changes that modify the requirements for the reclassification and repurchase of regular servicing option MBS mortgage loans and simplify the submission process for requesting servicing and subservicing transfers.
Fannie Mae Lender Letter LL-2021-14 specifies temporary requirements that impact the eligibility of certain condo and co-op projects.
