Fannie Mae
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Preferred Language Question to be Added to New Uniform Residential Loan Application
October 20, 2017, Federal Housing Finance Agency (FHFA) announced its decision to add a preferred language question to the new Uniform Residential Loan Application (URLA). This question will enable borrowers who prefer to communicate in a language other than English to identify that language. It also provides clear disclosures that the mortgage transaction is likely […]
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CLA-Bankers Advisory at the MBA’s Risk Management, QA & Fraud Prevention Forum in Miami, FL
Sarah Lagattolla, VP-Quality Control Services Director, and Kathleen Olson, Business Development Manager, for CLA-Bankers Advisory will be attending the MBA’s Risk Management, QA & Fraud Prevention Forum in Miami September 24th – 26th.
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Fannie Mae Now Offering Property Inspection Waivers on Purchase Transactions
August 18, 2017, Fannie Mae released the Desktop Underwriter/Desktop Originator Release Notes, announcing that purchase transactions will now be eligible for consideration to receive Property Inspection Waiver (PIW) offers. The enhancements will apply to DU Version 10.0 and DU Version 10.1 loan casefiles submitted or resubmitted on or after August 19, 2017. Key points of […]
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Fannie Mae Updates Selling Guide
April 25, 2017, Fannie Mae released Announcement SEL-2017-04, describing updates to the Selling Guide on a number of topics.
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Fannie Mae Announces Simplifying Servicing™ Initiative
February 15, 2017, Fannie Mae published Servicing News announcing Fannie Mae’s Simplifying Servicing™. The announcement highlights a new user interface for the SMDU workout decisioning tool, investor reporting enhancements, relief from post-foreclosure expenses and Flex Modification to assist borrowers. To view the Servicing News in its entirety, including the summaries highlighted below: Servicing News The Fannie […]
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Fannie Mae Updates Servicing Guide
February 15, 2017, Fannie Mae issued Announcement SVC-2017-02: Servicing Guide Updates. The Guide has been updated with the following changes, several of which will simplify servicing: Relieves servicers of responsibility for paying most post-foreclosure taxes and homeowners’ association, condo, or co-op fees and assessments for acquired properties. This change will reduce costs and operational risk […]
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Fannie Mae Updates Selling Guide
Key highlights include appraisals, confidentiality and seller/servicer financial eligibility requirements January 31, 2017, Fannie Mae issued Announcement SEL-2017-01 which announces a number of Selling Guide updates. Below is a brief summary of key updates. Please refer to Announcement SEL-2017-01 for additional updates and complete information on the topics highlighted in this article. Selling Guide Announcement Confidentiality […]
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Fannie Mae Publishes Updated Quality Control Guide
December 2016, Fannie Mae published a revised edition to “Beyond the Guide” to assist lenders in building their capability for ensuring quality. Originally published in 2010, the guide provides insight into every area of loan manufacturing.
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FHFA Issues Rule for Enterprise Duty to Serve Underserved Markets
December 29, 216, the Federal Housing Finance Agency (FHFA) published the rule, Enterprise Duty to Serve Underserved Markets in Federal Register Vol. 81, No 250.
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HARP Extended through September 2017, Streamlined Refinance Program for High LTV Borrowers Announced
August 25, 2016, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises), at FHFA’s direction, will implement a new refinance offering aimed at borrowers with high loan-to-value (LTV) ratios. The FHFA announcement is provided below: