Coronavirus News

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...

HUD Extends Re-verification of Employment Guidance and Updates Appraisal Scope of Work Option

HUD recently released Mortgagee Letter (ML) 2020-37, which updates two pieces of COVID-19 related temporary guidance the agency released earlier this year.  First, the...

HUD Extends Date for Approving Initial COVID-19 Forbearance or COVID-19 HECM Extension

In Mortgagee Letter (ML) 2020-34, HUD has extended the date by which Mortgagees must approve the initial COVID-19 Forbearance or HECM Extension, as provided...

Freddie Mac Extends Eligible Dates for Loans in COVID-19 Related Forbearance

Freddie Mac recently issued Bulletin 2020-41, announcing the extension of the effective dates for the agency’s temporary requirements allowing the sale of mortgages in...

NMLS Policy Guidebook Recently Updated

The NMLS Policy Guidebook was recently updated to clarify certain work location items for individuals working remotely as a result of the COVID-19 pandemic. ...

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...

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...
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