RegAlert

Fannie Mae has just announced a change in their mortgage insurance forms. Any loan with mortgage insurance that is sold or securitized by Fannie Mae must be insured using one of the new approved forms. This will take effect on any loan application that was taken on or after March 1, 2020. Fannie Read More

On October 31, 2019, the CFPB announced an increase for the special appraisal requirements for higher-priced loans from $26,700 to $27,000. This will take effect January 01, 2020 and it will be based on the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Read More

On October 10, 2019, the CFPB issued a final rule that could affect your HMDA reporting for 2020. The first part of the rule extends the 500 threshold for open-end lines of credit until January 1, 2022. This means that institutions that originate fewer than 500 open-end lines of credit in the two Read More

On July 25, 2019, the CFPB issued an advance notice of proposed rule making looking for feedback on the expiration of the temporary GSE patch. This patch specifically grants Qualified Mortgage status to loans eligible to be purchased or guaranteed by Fannie Mae or Freddie Mac. As it stands, the GSE Read More