- Apr. 18 - Read MCA's latest newsletter edition here. (posted: Friday Apr 18, 2014)
- Apr. 15 - Register now for our upcoming webinar, How To Comply: 2014 QC Plan Requirements. (posted: Tuesday Apr 15, 2014)
- Mar. 31 - Access Our Exclusive White Paper On The Qualified Mortgage Rule and Ability-To-Repay Requirement. MCA.com (posted: Monday Mar 31, 2014)
- Mar. 10 - Read this month's MCA newsletter for the latest in mortgage compliance news and updates. MCA.com (posted: Monday Mar 10, 2014)
- Mar. 3 - Follow MCA on Twitter for the latest mortgage compliance updates and tips. (posted: Monday Mar 3, 2014)
- Feb. 18 - We're Here At The MBA Servicing Conference & Expo - Are You? Visit Us At Booth 921 For Information On Our Products And Services. See You! (posted: Tuesday Feb 18, 2014)
- Feb. 14 - MCA Will Be At MBA's National Mortgage Servicing Conference & Expo February 18-21 - Come Visit Us At Hyatt Regency Orlando Booth 921! (posted: Friday Feb 14, 2014)
- Feb. 11 - Only 2 More Days To Register For Our Free Series Compliance Webinar. Don't Miss Out - Register Now! (posted: Tuesday Feb 11, 2014)
- Feb. 11 - Read This Month's MCA Newsletter For The Latest Mortgage Compliance Tips And Updates. MCA.com (posted: Tuesday Feb 11, 2014)
- Feb. 5 - MCA Will Be At MBA's National Mortgage Servicing Conference & Expo February 18-21 - Come Visit Us At Hyatt Regency Orlando Booth 921! (posted: Wednesday Feb 5, 2014)
View 2014 MCA Webinars
Our free monthly newsletter, the MCA Monthly Compliance Update, includes compliance updates and notifications of upcoming webinars.
2014 Newsletters -
HUD Mortgagee Letters http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/index.cfm
- FHA will accept electronic signatures on documents requiring for mortgage insurance, servicing and loss mitigation, and insurance claim documentation.
- This ML provides policy guidance for revised manual underwriting requirements.
- Notifies mortgagees that HUD-PA-426, “How To Avoid Foreclosure”, brochure has been replaced.
HUD Housing Handbooks
RESPA information, FAQs, etc.
HUD Press Releases
Neighborhood Watch: Early Warning System (Check your compare ratio of defaults, etc.)
HUD Single Family Events and Training (many are free)
HUD Webcast Schedule
FHA Final Rule regarding strengthening risk management
- Fannie Mae updates the modification terms for mortgage loan with pre-modified mark-to-market LTV ratios less than 80%.
- The Allowable Attorney and Trustee Foreclosure Fees exhibit on Fannie Mae’s website is updated to reflect changes in the maximum allowable foreclosure attorney fees for properties in the state of New York.
- Effective May 1, 2014, Fannie Mae will begin issuing warning letters and assessing compensatory fees for late and inaccurate reporting.
- Fannie Mae clarifies and updates policies regarding individual mortgage loan files, servicing quality control reviews, final requests for reimbursement, attorney expenses, and transfer of variances and waivers.
- Fannie Mae reviews the Standard Modification Interest Rate and may adjust it based on market conditions.
- Fannie Mae has approved the acquisition of CMG Mortgage Insurance Company and its affiliates by Arch U.S. MI holdings, Inc.
- This announcement updates servicer incentive fees for repayment plans, short sales, and mortgage releases.
- This announcement updates servicing policy on handling overcharges for special ARMs, accepting bankruptcy schedules of assets and liabilities in a Borrower Response Package, and more.
- Fannie Mae updates requirements for borrower notification of the interest rate adjustment for a mortgage loan that has been modified and is subject to interest rate adjustments, including Fannie Mae HAMP modifications.
- Servicers are reminded for loan modifications that they must obtain a property valuation using Fannie Mae’s Automated Property Service (APS for NPV), Freddie Mac’s Automated Valuation Model (AVM), or a third-party AVM.
Fannie Mae Selling Guide
Fannie Mae Selling & Servicing Guide Forms
Form 4506-T Lender Tips
Freddie Mac Single-Family Seller/Servicer Guide Bulletins and Industry Letters
Freddie Mac Resources for Sellers/Services (including news and Seller/Servicer Guide)
- This Bulletin has been issued in response to a Federal Housing Finance Agency directive to Freddie Mac to provide certain clarifications and guidance regarding property and appraisal requirements for properties located in rural market areas.
- This Bulletin announces revisions to its modification requirements, includes changes to processing requirements and more.
- Freddie Mac updates and revises its Servicing requirements.
- Freddie Mac announces update to Guide Form 16SF, Annual Eligibility Certification Report, to enhance its usability and provide additional functionality. Also, this Bulletin revises its requirements for reimbursement of condominium, HOA and Planned Unit Development (PUD) assessments.
- Freddie Mac updates and revises its Servicing requirements including step-rate mortgages, foreclosures, third-party use of Workout Prospector and BPOdirect, and Electronic Default Reporting Requirements.
Freddie Mac Forms and Electronic Documents
- This circular announces the new mandatory stacking order for files selected for VA full file loan review, effective May 1, 2014.
- Effective immediately, VA Fee Appraisers may use Freddie Mac Form 442 or Fannie Mae Form 1004D Part B.
- This circular reaffirms VA policy that all properties must meet VA minimum property requirements (MPRs) prior to VA loan guaranty.
- This circular provides clarification of the VA policy for individual properties with rainwater catchment systems that serve as collateral for a VA home loan in the State of Hawaii.
- The purpose of this circular is to provide the mailing address for the recently formed Contract Assurance Unit.
- This circular clarifies lender requirements for home loans guaranteed by the VA under TILA and the CFPB’s ATR and QM Rule.
VA Lender’s Handbook, circulars, etc.
- Prohibits payments to the loan originator that are based on the loan’s interest rate or other terms.
- Prohibits a mortgage broker or loan officer from receiving payments directly from a consumer while also receiving compensation from the creditor or another person…
- Read the Federal Reserve’s one page summary with highlights
- Read the actual final rules
- Read the “Compliance Guide to Small Entities”
- Get the recording of the Fed’s LO Compensation webinar
Federal Trade Commission
Red Flag extension moved to December 31, 2010
More in-depth information about Red Flags Rule