Fannie Mae and Freddie Mac (FNMA or FHLMC, respectively, or the "GSEs" collectively) recently provided additional guidance on their changes in response to the revised General QM defintion, as well as their Preferred Stock Purchase Agreement ("PSPA") with the Federal Housing Finance Agency ("FHFA"). Learn More
The CFPB recently updated TILA-RESPA Integrated Disclosure ("TRID") FAQs with guidance related to housing assistance loans and how the Building Up Independent Lives and Dreams Act ("BUILD Act") affects the TRID Rule requirements for qualifying loans. Read More
The U.S. Department of Agriculiture (USDA) recently issued a Special Procedure Notice to announce updated 2021 income limits for the Rural Development Single Family Guaranteed Loan Program. Read More
New Mexico recently enacted Senate Bill 365 which amends part of the state's prohibitions and requirements related to adjustable-rate home loans under the New Mexico Home Loan Protection Act... Read More
Tennessee House Bill (HB) 421 amends Tennessee Code Annotated, Title 45, Chapter 5 of the Industrial Loan and Thrift Companies Act...Read More
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Fannie Mae recently announced a change to the instructions for the Virginia Deed of Trust Form 3047 that includes the deletion of authorized change #13 and an update to language permitted for eligible refinance transactions in authorized change #15. Read More
Under Federal Housing Finance Agency (“FHFA”) guidance, Fannie Mae and Freddie Mac (the “GSEs”) have provided further clarification regarding the discontinuance of the purchase of Adjustable-Rate Mortgage ("ARM") loans with a Constant Maturity Treasury ("CMT") Index. Read More
In order to keep DocMagic software users better apprised of document changes and additions as they occur, DocMagic posts listings of all newly created and revised documents. Read More
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