Fannie Mae Provides Selling Guide Updates | Tue, 15 May 2012 14:55
The Selling Guide has been updated to include changes to the following topics:

• DU Refi Plus™ and Refi Plus™ updates
• Hardest Hit Funds(SM) for DU Refi Plus and Refi Plus
• Employment and income policy changes
• Restructured mortgage loan policy

In addition, the following documents published on eFannieMae.com have been updated:

• Eligibility Matrix
• eCommitONE User’s Guide
• Standard ARM Plan Matrix

FHA Multifamily Updates Guidelines for Assumption, Subordination or Assignment of M2M Loans | Tue, 15 May 2012 13:20
FHA Multifamily updates and restates HUD’s guidelines dated September 30, 2010, issued through Housing Notice 10-22, “Guidelines for Assumption, Subordination, or Assignment of Mark-to-Market (M2M) Program Loans in Transfer of Physical Assets (TPA) and Refinance Transactions” (Guidelines). This Notice outlines a request process and review criteria for owners who seek to refinance or sell a property (Property) that has received the benefits of a debt restructuring under M2M or the Demonstration Program.

FHA Multifamily Reinstates and Extends Notices H 2009-13 and PIH 2009-36 | Tue, 15 May 2012 13:11
This Notice reinstates and extends the 2009 joint Notice issued by the Office of Housing (H) and the Office of Public and Indian Housing (PIH), identified as H 2009-13 or PIH 2009-36. This Notice provides supplemental information to application for assistance regarding identification of family member, friend or other persons or organization supportive of a tenant for occupancy in HUD assisted housing.

Agencies Issue Final Supervisory Guidance on Stress Testing for Banks | Tue, 15 May 2012 11:45
The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), (collectively, the “agencies”) issued final guidance outlining high-level principles for stress testing practices, applicable to all entities supervised by these agencies with more than $10 billion in total consolidated assets. This guidance will become effective on July 23, 2012.

Freddie Mac Announces Guide Bulletin 2012-11 (Selling) | Tue, 15 May 2012 10:39
With this Single-Family Seller/Servicer Guide (“Guide”) Bulletin, Freddie Mac is providing the following updates and revisions to its selling requirements

• Permitting federally regulated Sellers to conduct Electronic Transactions using electronic versions of certain loan documents in the initial loan origination process
• Updating Social Security number validation requirements for the Seller’s in-house quality control program
• Updating requirements for use of third-party employment and/or income verification services
• As previously announced, for Relief Refinance Mortgages^SM, Freddie Mac is:
  • Until further notice, reducing the cash adjustor value from 50 basis points (bps) to zero bps for Relief Refinance Mortgages sold under fixed-rate Cash with loan-to-value (LTV) ratios greater than 125%.
  • Revising the Guide to reflect the removal of the cash adjustor for Relief Refinance Mortgages sold under fixed-rate Cash with LTV ratios greater than 105% and less than or equal to 125%
  • Updating the Guide to reflect the removal of the maximum LTV ratio of 125% for fixed-rate Mortgages sold under fixed-rate Guarantor for Relief Refinance Mortgages – Same Servicer with LTV ratios greater than 80% and Relief Refinance Mortgages – Open Access as announced in Bulletin 2011-22
  • Adding language to the Guide to reflect that, as announced in previous Bulletins, Relief Refinance Mortgages – Same Servicer and Relief Refinance Mortgages – Open Access with LTV ratios less than or equal to 105% are eligible for sale under the fixed-rate Cash program using the Servicing Released Sales Process Servicing option
• Introducing a new provision that entitles Freddie Mac to recapture premiums and buyups associated with Mortgages that are paid off within 120 days of their sale to Freddie Mac
• Removing the requirement that ARMs sold to Freddie Mac have a Note Rate, Margin and Lifetime Ceiling that are divisible by one-eighth of 1%
• Prohibiting the sale of Mortgages that are encumbered by certain private transfer fee covenants
• Announcing Freddie Mac will no longer purchase Mortgages originated on Fannie Mae balloon documents

CFPB Issues Notice and Request for Comment Regarding Information Collection on Compliance Costs and Effects of Regulations Submitted to OMB | Tue, 15 May 2012 09:01
The Bureau of Consumer Financial Protection (CFPB) has invited the general public and other Federal agencies to comment on proposed and/or continuing information collections. The CFPB is soliciting comments regarding the information collection requirements relating to the Generic Clearance for Collection of Information on Compliance Costs and Other Effects of Regulations that has been submitted to the Office of Management and Budget (OMB) for review and approval. Written comments must be received on or before June 19, 2012.

CFPB Requests Comments on Information Collection on Qualitative Testing Relative to Mortgage Servicing Model Forms and Disclosures | Mon, 14 May 2012 11:15
The Bureau of Consumer Financial Protection (CFPB) invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections. The CFPB is soliciting comments concerning the information collection efforts relative to the qualitative testing of mortgage servicing related model forms and disclosures. Written comments must be received on or before July 10, 2012.

Connecticut Modifies Definition of Notarial Act | Mon, 14 May 2012 08:34
The state of Connecticut modified the definition of notarial act to include; taking an acknowledgement, administering an oath or affirmation, witnessing or attesting a signature and completing a copy certification. These provisions are effective October 1, 2012.

Illinois Adopts Final Rule Regarding Foreclosure Prevention Act under Housing Development Authority | Mon, 14 May 2012 08:30
The state of Illinois adopted final rules (replacing emergency rules) to implement the program rules for the Foreclosure Prevention Program under the Save Our Neighborhoods Act of 2010. The purpose of these rules is to create uniform procedures in order to operate the Program. These provisions are effective April 30, 2012.

CFPB Provides Proposals Being Considered Regarding Mortgage Origination Compensation Structures | Thu, 10 May 2012 12:55
The Bureau of Consumer Financial Protection (CFPB) has provided those considerations being made regarding the upcoming proposed rules regarding mortgage loan originator compensation. The rules are expected to be finalized by January 2013. These considerations involve, among other items, discount points and origination fees.

FinCEN Issues Extension of Comment Period for Advance Notice of Proposed Rulemaking Regarding Customer Due Diligence for Financial Institutions | Thu, 10 May 2012 08:32
The Financial Crimes Enforcement Network (FinCEN) extended the comment period for the previously issued Advance Notice of Proposed Rulemaking (ANPRM) it published concerning customer due diligence requirements for financial institutions. Written comments must be received on or before June 11, 2012.

Agencies Issue Notice of Joint Guidance on the Effective Date of Section 716 of the Dodd-Frank Act | Thu, 10 May 2012 08:28
The Office of the Comptroller of the Currency (OCC), the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) issued this guidance to provide clarity regarding the effective date of section 716 of the Dodd-Frank Act (Prohibition Against Federal Government Bailouts of Swap Entities) with respect to entities for which each is the prudential regulator. The effective date will be July 16, 2013.

Fannie Mae Announces New Document Custodian Requirements | Wed, 09 May 2012 12:55
Announces change to the responsibilities of document custodians with respect to compliance audits and certification practices. All references in this Announcement to a document custodian apply to both independent and lender-affiliated document custodians that hold or certify loan documents on behalf of Fannie Mae.

Freddie Mac Multifamily Updates Seller/Servicer Guide | Wed, 09 May 2012 07:18
Freddie Mac is removing specific requirements for loans with preferred equity from the Multifamily Seller/Servicer Guide, but will continue to purchase these loans provided certain conditions are met. Sellers should contact the Applicable Freddie Mac Multifamily Regional Office to discuss their transactions.

FHA Multifamily Provides Updated Requirements for Prepayment and Refinance of Section 202 Direct Loans | Tue, 08 May 2012 13:39
Provides guidance for the prepayment and refinancing of Section 202 Direct Loan projects. This Notice supersedes all outstanding policy regarding Section 202 Direct Loan prepayments, including Housing Notice 02-16 and Housing Notice 10-14.

MPF Program Announces Implementation of System Rule to Require Delivery of Appraisal Doc File ID under the MPF Xtra Product | Tue, 08 May 2012 11:55
All mortgages with a loan application on or after December 1, 2011, and delivered on or after March 19, 2012 under the MPF Xtra^® product must also comply with the UAD/UCDP requirements to deliver an electronic appraisal and obtain a valid Appraisal Document File Identifier (Appraisal ID#). To help ensure PFIs will be in compliance with these UAD/UCDP requirements under the MPF Xtra^® product, we are implementing system rules which will require the delivery of a valid Appraisal ID# for all deliveries on or after May 29, 2012.

Vermont Amends Provisions Regarding Foreclosures | Tue, 08 May 2012 09:10
The state of Vermont amended its provisions regarding foreclosures of mortgages. The revisions include updating and consolidating statutory provisions regarding court procedures as regards foreclosure of mortgages; relates to agricultural land, residential rental agreements and filing of notice of foreclosure with the commissioner of banking, insurance, securities, and health care administration; provides for foreclosure sales; provides for payment of property taxes by mortgagees. Some provisions become effective immediately and others on July 1, 2012.

New Hampshire Amends Provisions Regarding Homestead Exemptions | Tue, 08 May 2012 09:07
The state of New Hampshire modified the provisions regarding homestead exemptions. The amounts were modified to $100,000 for a single person and $200,000 for a married couple. These provisions become effective on July 1, 2012.

Georgia Amends Provisions Regarding Disbursement of Settlement Proceeds | Tue, 08 May 2012 09:05
The state of Georgia modified its provisions regarding disbursement of settlement proceeds; including redefining settlement agent. These provisions become effective on July 1, 2012.

Georgia Modifies Foreclosure Provisions Regarding Power of Sale Notices | Tue, 08 May 2012 09:02
The state of Georgia modified its provisions regarding power of sale notifications needing to be provided to all debtors. These provisions become effective on July 1, 2012.

Ginnie Mae Adds Additional Data Delivery Elements | Fri, 04 May 2012 13:50
Effective with September 1, 2012 issuances and thereafter, Issuers will be required to provide four additional data elements: First-Time Homebuyer Indicator, Third-Party Origination Type, Upfront MIP Rate and Annual MIP Rate. Initially, if an Issuer is unable to provide this data, they will receive a warning in GinnieNET. However, effective with January 2013 issuances and thereafter, failure to provide these data elements will prevent the pool from being issued. This information will be collected via GinnieNET on the import file layout.

Alabama Enacts the Residential Mortgage Satisfaction Act | Fri, 04 May 2012 08:41
The state of Alabama enacts the Alabama Residential Mortgage Satisfaction Act. The Act provides a method for a person liable for payment or performance of the obligations secured by a security interest, a mortgagor, or other entitled person to request a payoff statement pursuant to proper notification; to require a secured creditor, upon proper notification, to comply with the request for a payoff statement within a designated time period; to require secured creditors to record mortgage satisfactions within a designated time period after the occurrence of stated conditions. This Act becomes effective on March 1, 2013.

West Virginia Amends Regulations Regarding Recordkeeping Requirements | Fri, 04 May 2012 08:38
The state of West Virginia amended regulations relative to recordkeeping requirements. The revisions are primarily applicable to lenders and brokers. These revisions become effective on May 1, 2012.

Georgia Revises Provisions Regarding Residential Mortgage Fraud | Thu, 03 May 2012 12:34
The state of Georgia amended provisions relating to residential mortgage fraud, revising the definition of "mortgage lending process" and to change provisions relating to the offense of mortgage fraud. These provisions are effective on July 1, 2012.

Georgia Amends Provisions Regarding Mortgages and Vacant & Foreclosed Property Registry | Thu, 03 May 2012 12:31
The state of Georgia amended provisions relating generally to mortgages, conveyances to secure debt, and liens, so as to provide for vacant and foreclosed real property registries; to provide for definitions; to provide for required elements of a form for such registrations; to provide for exemptions from registration; to provide for maximum fees and penalties for registration and failure to register; to provide for appellate rights; to provide for related matters; to repeal conflicting laws and for other purposes. These provisions are effective on July 1, 2012.

New York Extends Regulations Regarding Mortgage Loan Servicers | Thu, 03 May 2012 12:22
The New York Department of Financial Services extended existing emergency regulations regarding mortgage loan servicers again until July 11, 2012.

Maryland Adds Provisions Regarding Foreclosure Pre-File Mediation | Thu, 03 May 2012 12:17
The state of Maryland added provisions establishing a specified pre-file mediation process between a secured party and a mortgagor or grantor before the commencement of foreclosure actions under specified circumstances; provides that a mortgagor or grantor is not entitled to participate in mediation after the filing of foreclosure actions; relates to pre-file arbitration; allows an income tax subtraction modification for income from a foreclosure settlement; relates to certificates of vacancy or property unfit for human habitation. These provisions are effective on October 1, 2012.

Maryland Modifies Various Provisions Regarding Mortgage Licensing | Thu, 03 May 2012 12:14
The state of Maryland modified provisions requiring an applicant for a mortgage lender license or a mortgage loan originator license to complete, sign, and submit an application in accordance with the process that the Commissioner requires; makes specified mortgage lender and mortgage loan originator license fees nonrefundable; alters specified reporting requirements for mortgage lender licensees. These provisions are effective on July 1, 2012.

Maryland Adds Provisions Regarding a Foreclosed Property Registry | Thu, 03 May 2012 12:11
The state of Maryland added provisions requiring the Department of Labor, Licensing, and Regulation to establish and maintain a Foreclosed Property Registry for specified property; requires specified foreclosure purchasers to register specified residential property and to pay registration fees; creates a related fund; authorizes a local jurisdiction to enact a local law to impose civil penalties for violations and imposes limits on access to the registry. These provisions are effective on October 1, 2012.

Minnesota Adds Exemptions for Licensed Attorneys from Licensing as Closing Agents | Thu, 03 May 2012 12:03
The state of Minnesota amended provisions to add an exemption from licensing as a closing agent for licensed attorneys and their direct employees. These provisions are effective on May 1, 2012.

Oklahoma Modifies Provisions under the Uniform Consumer Credit Code | Thu, 03 May 2012 11:49
The state of Oklahoma modified provisions relating to consumer credit; requires additional disclosure for extensions of credit secured by a dwelling; requires additional statements if annual percentage rate changes; mandates receipt of disclosure prior to payment; permits creditor to impose higher finance charges; provides for notification to a borrower that their residential mortgage loan is sold or transferred. These provisions were amended as an emergency measure and are effective on May 1, 2012.

HUD Proposes Rule on Section 232 Healthcare Facility Insurance Program | Thu, 03 May 2012 09:59
In 2010 through 2011, HUD commenced and completed the process of revising regulations applicable to, and closing documents used in, FHA insurance of multifamily rental projects, to reflect current policy and practices in the multifamily mortgage market. This rule proposes amendments to update HUD’s Section 232 regulations, to reflect current policy and practices, and to improve accountability and strengthen risk management. Comment Due Date: July 2, 2012.

HUD Publishes Healthcare Facility Documents | Thu, 03 May 2012 09:40
HUD publishes for public comment a comprehensive set of closing and other documents used in connection with transactions involving healthcare facilities (excluding hospitals) that are insured pursuant to section 232 of the National Housing Act (Section 232). Comment Due Date: July 2, 2012.

FHA Multifamily Announces High Cost Revisions for 2012 | Wed, 02 May 2012 09:49
FHA Multifamily announces Annual Base City High Cost Percentages and High Cost Areas revisions for 2012.

FHA Multifamily Provides High Cost Revisions for 2012 | Wed, 02 May 2012 09:41
FHA Multifamily provides Annual Base City High Cost Percentages and High Cost Areas revisions for 2012.

Fannie Mae Multifamily Announces 2011 Multifamily Form Mortgage Loan Documents | Tue, 01 May 2012 10:13
Fannie Mae announces the publication of new 2011 Multifamily Form Mortgage Loan Documents and revisions to the previously published 2011 Multifamily Form Mortgage Loan Documents.

Fannie Mae Provides Notice on Changes to Pricing Terms | Tue, 01 May 2012 09:30
Fannie Mae provides written notice to lenders on changes to pricing terms under the standard Selling Guide provisions as well as any existing Master Agreements and related MBS contracts. Fannie Mae may change the base guaranty fee, loan-level price adjustments (LLPAs), and/or guaranty fee adjustments for MBS Express® or rapid payment method remittance cycles (“Pricing”) applicable to mortgages delivered under MBS contracts or as whole loans as follows:

• Fannie Mae reserves the right to change the Pricing one or more times during the term of any Master Agreement or related MBS contract at any time.
• In each case, prior to the date on which the new Pricing will become effective ("Pricing Effective Date"), Fannie Mae will provide the lender with written notice of the proposed Pricing to be implemented.
• If the lender and Fannie Mae are unable to come to acceptable terms on the new Pricing prior to the Pricing Effective Date, either party may cancel the affected MBS contract(s) or the related Master Agreement by delivering written notice to the other party on or before the scheduled Pricing Effective Date.

MPF Program Announces DU Refi Plus and Refi Plus Available under the MPF Xtra product | Fri, 27 Apr 2012 13:14
The MPF Program announces the availability of the DU Refi Plus and Refi Plus Refinance programs under the MPF Xtra product.

FHA Multifamily Addresses Policy Regarding Interest Rate Swap Termination Fees Associated with Debt | Fri, 27 Apr 2012 10:56
Addresses policy regarding interest rate swap termination fees associated with debt to be refinanced in connection with healthcare and multifamily mortgage insurance applications. This Mortgagee Letter will benefit prospective mortgagors who meet all of the qualifications of the healthcare and multifamily mortgage insurance program(s) under which they apply, and who may wish to refinance interest rate swap agreements they entered into before January 1, 2009, which were integrated into the original financing.

FHA Multifamily Addresses DUNS Numbers and Registration in CCR | Fri, 27 Apr 2012 10:44
Provides notice requiring owners with Project-Based Section 8 Rental Assistance Contracts or Section 202 or 811 Project Rental Assistance Contracts or Rental Assistance Payments or Rent Supplement Contracts to obtain Dun and Bradstreet Number System (DUNS) Numbers and to register in the Central Contractor Registration (CCR).

FFIEC Publishes Notice of Amendment Regarding Appraisal Subcommittee Rules of Operation | Fri, 27 Apr 2012 09:07
The Federal Financial Institutions Examination Council (FFIEC) published changes to specific sections of the Appraisal Subcommittee Rules of Operation. These changes are effective immediately.

CFPB Requests Comment on the Scope of an Arbitration Agreement Study | Fri, 27 Apr 2012 09:05
The Bureau of Consumer Financial Protection (CFPB) is required by the Dodd-Frank Act to conduct a study of, and provide a report to Congress concerning, the use of agreements providing for arbitration of any future dispute between covered persons and consumers in connection with the offering or providing of consumer financial products or services. As a preliminary step in undertaking the study, the Bureau requests specific suggestions from the public to help identify the appropriate scope as well as appropriate methods and sources of data for conducting the study. Comments must be submitted on or before June 23, 2012.

CFPB Issues Interim Final Rule and Request for Comment Regarding Ethical Conduct Standards for Employees of the CFPB | Fri, 27 Apr 2012 09:02
The Bureau of Consumer Financial Protection (CFPB) issued an interim final rule regarding employees of the Bureau. The rule establishes restrictions on outside employment and business activities; prohibitions on the ownership of certain financial interests; restrictions on seeking, obtaining or renegotiating credit and indebtedness; prohibitions on recommendations concerning debt and equity interests; disqualification requirements based on credit or indebtedness; prohibitions on purchasing certain assets; and restrictions on participating in particular matters involving outside entities. This interim final rule is effective June 26, 2012. Written comments are invited and must be received on or before June 26, 2012.

Virginia Revises Provisions Regarding Recordation Taxes | Fri, 27 Apr 2012 08:49
The state of Virginia amended laws regarding recordation taxes for deed of trust. The amendments eliminate the recordation tax exemption for certain deeds of trust securing a refinanced obligation and establishes a reduced tax for all refinancing deeds of trust or mortgages. These provisions become effective on July 1, 2012.

Virginia Amends Laws Regarding Landlord and Tenants | Fri, 27 Apr 2012 08:46
The state of Virginia amended laws regarding tenants and landlords. Included in the revisions is regarding an allowance for a tenant to stay in the dwelling unit after foreclosure of the property containing the dwelling unit under specific circumstances. These provisions become effective on July 1, 2012.

Ginnie Mae Addresses Strict Compliance on Reporting Requirements | Thu, 26 Apr 2012 13:37
As a result of the changes mentioned in All Participants Memorandum 11-15, dated September 30, 2011 and All Participants Memorandum 12-04, dated March 22, 2012, beginning May 2012, Ginnie Mae will not be able to accommodate any RPB corrections after 8:00 pm Eastern Standard Time on the 4th business day of the month.

Ginnie Mae Addresses Transmitting Funds through Pay.gov - New Limit on Credit Card Transactions | Thu, 26 Apr 2012 13:24
Ginnie Mae has updated Chapter 6 of the Ginnie Mae Mortgage-Backed Securities Guide, 5500.3, Rev. 1 (“Guide”) regarding the transmitting of funds through Pay.gov and the new limit on credit card transactions.

MPF Program Announces Enhancements to MPF Xtra Manual Chapters | Thu, 26 Apr 2012 12:09
The MPF Program announces the following changes specific to the MPF Xtra product:

• Servicing Requirements under the City of Chicago Vacant Property Ordinance.

Alabama Enacts Provisions Affecting Recording of Documents in Monroe County | Thu, 26 Apr 2012 08:38
The state of Alabama added provisions specific to Monroe County regarding the recording of documents. These provisions provide for; the installation and maintenance of an improved system of recording, archiving, and retrieving documents affecting the title to property and other documents recorded in the office of the judge of probate; provides for the collection and disposition of a special recording fee; provides that the system shall constitute official and permanent records in Monroe County; provides for the collection and disposition of a special transaction fee. These provisions are effective on July 1, 2012.

Vermont Amends Provisions Regarding Mortgage Licensing | Thu, 26 Apr 2012 08:34
The state of Vermont amended provisions regarding mortgage licensing. These provisions include; definitions, amended codification, expanded licensing requirements including exemptions. These provisions are effective immediately.

Fannie Mae Announces Change to Servicer Response Times and the Preforeclosure Sale Process | Wed, 25 Apr 2012 11:47
Introduces policies to expedite the preforeclosure sale process. Servicers are encouraged to follow these requirements with respect to mortgage loans sold to Fannie Mae that are guaranteed or insured by a government agency (i.e., FHA, HUD, VA, and RD) or which are sold to Fannie Mae under a recourse arrangement.

Fannie Mae Updates Delinquency Management and Default Prevention Requirements | Wed, 25 Apr 2012 11:34
Describes policy changes and provides clarifications to several delinquency management and default prevention requirements.

FHA Multifamily Addresses Infestations in HUD-insured and Assisted Multifamily Housing | Wed, 25 Apr 2012 09:20
This Notice supersedes Housing Notice 2011-20, Guidelines on Bed Bug Control and Prevention in HUD Insured and Assisted Multifamily Housing. Readers seeking guidance on the subject of bed bug infestations should instead refer to this Notice, which provides updated information to prevent and address infestations, including but not limited to bed bugs, insects, and all manner of vermin.

CFPB Extends Comment Period Regarding Impact of Overdraft Programs on Consumers | Wed, 25 Apr 2012 08:45
The Bureau of Consumer Financial Protection (CFPB), on February 28, 2012 published in the Federal Register a notice and request for information regarding the impacts of overdraft programs on consumers. The Overdraft Notice allowed a 60-day comment period, closing on April 30, 2012. The Bureau has extended the comment period until June 29, 2012.

Freddie Mac Announces Guide Bulletin 2012-10 (Servicing) | Mon, 23 Apr 2012 15:26
With this Single-Family Seller/Servicer Guide (“Guide”) Bulletin, among other things, Freddie Mac is making the following updates to its Servicing requirements:

• Providing requirements for Servicer participation in transition assistance programs offered by state Housing Finance Agencies (“HFAs”) and funded by Treasury’s Innovation Fund for the Hardest Hit Housing Markets or Hardest Hit Fund (“HHF”)
• Consolidating all requirements related to Servicer participation in HFA mortgage assistance programs into new Guide Section 64.12, Hardest Hit Fund
• Requiring Servicers to refer to Freddie Mac’s web site at: http://www.freddiemac.com/singlefamily/service/standardmodrate.html for the interest rate that Servicers must use to calculate the terms of the Trial Period Plan and the modification
• Adjusting the interest rate required to calculate the terms of the Trial Period Plan and the modification
• Extending Freddie Mac’s Home Affordable Modification Program (HAMP) and Home Affordable Foreclosure Alternatives (HAFA) initiative through December 31, 2013
• Revising the HAMP eligibility requirements for a permanent modification to exclude Mortgages subject to full recourse or indemnification agreements

Fannie Mae Multifamily Clarifies Language to DUS Guide | Mon, 23 Apr 2012 09:36
Fannie Mae announces clarifying language to the Delegated Underwriting and Servicing (DUS) Guide Part XI, Chapter 402 regarding the timing requirements for the delivery date of securitized adjustable rate Mortgage Loans and securitized amortizing fixed rate Mortgage Loans.

Fannie Mae Announces Change in Payment of Vendor Fees in Florida Pre-filing Mediation | Fri, 20 Apr 2012 15:12
Fannie Mae announces that effective for all pre-filing mediation vendor fees invoiced on or after April 1, 2012, the vendor will submit invoices directly to Fannie Mae. As a result, Fannie Mae will begin paying the pre-filing mediation fees directly to the vendor. Fannie Mae will only reimburse servicers for pre-filing mediation vendor fees for invoices issued by the vendor prior to April 1, 2012.

RHS SFHGLP Provides Guidance on Increasing/Decreasing Loan Amounts | Fri, 20 Apr 2012 13:34
Provides updated guidance to Agency field staff on increasing, or decreasing, the amount of obligation for a Single Family Housing Guaranteed Loan Program (SFHGLP) loan for the various types of assistance codes, including a loan obligated with prior fiscal year (FY) funds.

RHS SFHGLP Updates Delivery Checklist | Fri, 20 Apr 2012 13:30
Updates the uniform checklist utilized by Agency employees in delivering the Single Family Housing Guaranteed Loan Program (SFHGLP).

RHS SFHGLP Updates Refinance Instructions | Fri, 20 Apr 2012 13:24
Provides updated instructions regarding the refinance feature of the Single Family Housing Guaranteed Loan Program (SFHGLP).

RHS SFHGLP Rural Refinance Pilot Closing Costs Announcement | Fri, 20 Apr 2012 13:09
Announces that eligible loan closing costs may be included in the Rural Refinance Pilot program loan amount. The Rural Refinance Pilot is designed to assist existing Section 502 borrowers, for both direct and guaranteed loans, to refinance their homes with greater speed and ease.

CFPB Issues Bulletin Regarding Transitional Loan Originator Licensing Between States | Thu, 19 Apr 2012 15:53
The Bureau of Consumer Financial Protection (CFPB) issued Bulletin 2012-05 in response to inquiries on whether states may permit transitional licensing of mortgage loan originators.

VA Revises Chapter 2 of Lender's Handbook | Thu, 19 Apr 2012 14:27
VA has made revisions to topics 1 and 2 in Chapter 2, Veteran’s Eligibility and Entitlement, of the VA Lender’s Handbook.

Nebraska Modifies Register of Deeds and Clerk Fees | Thu, 19 Apr 2012 09:34
The state of Nebraska has modifies fees relative to register of deeds and county clerks. The revisions include: changes and eliminates fees received by registers of deeds, county clerks, clerks of the district court and the Secretary of State; relates to recording fees for recording a certificate of foreclosure of a mortgage, deed, release, recording and release of a will, decree in a testate estate, recording proof of publication or recording any other instrument; includes a notice of lien and tax liens. These provisions are effective on January 1, 2013.

Iowa Modifies Provisions Relative to Notarial Seals | Thu, 19 Apr 2012 09:24
The Iowa Secretary of State is changing permissive language regarding stamps or seals. These provisions have immediate effect.

Georgia Adjusts Superior Court Clerk Fees | Thu, 19 Apr 2012 09:23
The state of Georgia has modified fees payable to the Superior Court clerks in order to extend a sunset date for real estate and personal property filing fees. These provisions are effective on July 1, 2012.

MPF Announces Implementation of Pair-off Fee Credit to PFIs for the MPF Xtra Product | Wed, 18 Apr 2012 10:08
MPF Program announces the implementation of a pair-off fee credit to the PFI under the MPF Xtra® product if warranted based on the result of a pair-off fee calculation. Please note this applies only to the MPF Xtra® Product.

Freddie Mac Announces Guide Bulletin 2012-9 (Short Sale Time Lines) | Tue, 17 Apr 2012 15:23
With this Single-Family Seller/Servicer Guide (“Guide”) Bulletin, Freddie Mac is clarifying certain existing requirements and adding new minimum requirements regarding communication time lines for Home Affordable Foreclosure Alternatives (HAFA) Short Sales and short payoffs (aka short sales) processed in accordance with the requirements of Guide Chapter B65, Workout Options. The new requirements introduce specific response time frames for certain activities in the short sale process and leverage existing communication and response time frames Freddie Mac has implemented as part of the Servicing Alignment Initiative (SAI).

Fannie Mae Issues Release Notes for Desktop Underwriter April Update | Tue, 17 Apr 2012 11:06
During the weekend of April 28, 2012, Fannie Mae will update Desktop Underwriter^® (DU^®) Version 8.3 to implement enhancements to DU Refi Plus^TM that will provide lenders with estimated property values on certain DU Refi Plus loan casefiles. These updates will apply to DU Version 8.3 loan casefiles submitted or resubmitted to DU on or after the weekend of April 28, 2012.