Coronavirus News

Fannie Mae Issues Additional Updates to Lender Letter 2020-07

Fannie Mae updated LL-2020-07, which outlines the payment deferral option designed to help borrowers impacted by a hardship related to COVID-19 to return their...

Fannie Mae Extends COVID-19 Related Guidance

Fannie Mae recently updated two Lender Letters, LL-2020-03 and LL-2020-04, by primarily extending the dates of certain temporary COVID-19 related flexibilities and policies that...

NCUA Adopts as Final Interim Rule Deferring Appraisals and Written Estimates

The National Credit Union Administration Board (Board) recently adopted as final an interim final rule that defers the requirement for appraisals and written estimates...

WBK Chart of State Regulator Communications

WBK continues to update its chart of coronavirus-related communications from state mortgage regulators, for use in our state licensing practice.  It is available on this...

Freddie Mac and Fannie Mae Announce Updates to Adverse Market Refinance Fee

Freddie Mac and Fannie Mae recently announced updates to the new adverse market refinance fee, which WBK covered here.  The updates include clarification that...

FHA Temporarily Waives Requirement for Interior Photos of Homes in PDMDAs

FHA recently published a temporary waiver of the requirement for interior photos during inspections of properties pending mortgage closing or endorsement in Presidentially-Declared Major...

HUD OIG Follow-Up Review of Servicer Websites Finds Some Improvement

HUD’s Office of Inspector General (OIG) has released a follow-up study on the information that mortgage servicers are providing to borrowers regarding forbearance options...

FHA Temporarily Waives HECM Eligible NBS Requirement Due to COVID-19

In connection with FHA-insured HECM loans, due to COVID-19, FHA recently announced a temporary partial waiver and a corresponding housing directive waiver of the...

Ginnie Mae Issues Guidance on Loans After Deferment Loss Mitigation

Ginnie Mae recently issued APM 20-13, reminding Issuers that a deferment, exercised as a loss mitigation option or as part of an informal workout...

Federal Banking Agencies Issue Final Rule Regarding the Deferral of Appraisals and Evaluations for Certain Real Estate Transactions

The OCC, the Board of Governors of the Federal Reserve System (the Board), and the FDIC (collectively, the Agencies) recently issued a final rule...

Federal Banking Agencies Adopt Changes Made to Regulatory Capital Rule and Liquidity Coverage Ratio Rule Under Interim Final Rules

The OCC, the Board of Governors of the Federal Reserve System (the Board), and the FDIC (collectively, the Agencies) recently issued a final rule...

Freddie Mac Publishes Selling Guide Bulletin

Freddie Mac recently issued Guide Bulletin 2020-37 which, among other things, updated guidance for the Market Condition Credit Fee in Price and extended the effective dates...
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