Coronavirus News

Fannie Mae Again Extends Eligibility Dates for Loans in Forbearance

Fannie Mae has updated Lender Letter 2020-06 again to extend the eligibility dates for loans in forbearance related to COVID-19.  The new end date...

Missouri Rule on Remote Online Notary

An Emergency Rule setting forth the required criteria for the software to be used by notaries performing remote notarizations was filed by the Missouri...

FHA Issues Mortgagee Letter on FHA Underwriting Guidelines for Borrowers with Previous Mortgage Payment Forbearance

FHA recently issued Mortgagee Letter 2020-30 (ML 2020-30) to expand FHA’s underwriting guidelines for borrowers in forbearance and who are seeking new FHA insured...

VA Provides Extended Relief Under CARES Act for Those Affected by COVID-19

VA issued Circular 26-20-12, Change 1 that modifies parts of Circular 26-20-12 by clarifying the loan modification option, VA purchase option, and removes a...

California Enacts New Forbearance-Related Requirements

On August 31, 2020, California Governor Gavin Newsom signed Assembly Bill 3088 (AB 3088) enacting the Tenant, Homeowner, and Small Landlord Relief and Stabilization...

Florida and Texas Extend COVID-19 Borrower Protections

The Florida Governor and the Texas Supreme Court have extended certain borrower protections through September 30, 2020, in response to COVID-19. Florida’s Governor, Ron...

VA Extends Eviction Moratorium

The Department of Veterans Affairs (VA) issued Circular 26-20-29 to extend its eviction moratorium for borrowers affected by COVID-19 through December 31, 2020.  The...

CFPB Releases Report on COVID-19 Impact on Consumer Credit

The CFPB recently published a report identifying key trends from COVID-19 on consumer credit use and access.  The report analyzes data provided by the...

Fannie Mae Extends Temporary Policies Related to COVID-19

On August 27, 2020, Fannie Mae updated several Lender Letters, LL-2020-03, LL-2020-04, and LL-2020-06, to its single-family sellers communicating temporary policies in response to...

GSEs Issue Guidance on Adverse Market Refinance Fee and Freddie Mac Updates Requirements Related to COVID-19

Fannie Mae and Freddie Mac recently issued guidance on the new adverse market refinance fee, which WBK previously covered here, and Freddie Mac updated...

FHA Extends Foreclosure and Eviction Moratoriums

On August 27, 2020, FHA published Mortgagee Letter 2020-27.  The Mortgagee Letter extends the moratoriums (initially put into place through Mortgagee Letter 2020-04) on...

SBA Issues Additional Guidance on PPP Loans Including Loan Forgiveness

The SBA recently issued guidance including a new set of Frequently Asked Questions (FAQs) on Paycheck Protection Program (PPP) Loan Forgiveness.  Generally, in relation...
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