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Posts Tagged ‘freddie mac news’

Feb
03
2012

Read Our February Monthly Compliance Newsletter

Feb. 3 - Read our February newsletter for the latest compliance tips and updates. MCA.com

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Feb
03
2012

MCA Monthly Compliance Update – February 2012

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MCA Monthly Compliance Update

February 2012

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Pre-Funding Reviews
Stay Updated
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Welcome to the MCA Monthly Compliance Update. To help you stay compliant and up-to-date, our newsletters contain mortgage compliance tips and updates. We hope that you find the content informative and useful. As always, your feedback is appreciated.


Industry Highlights

Join the blogosphere with National Mortgage News editor, Paul Muolo! Read his recent entry about government and the mortgage industry. The observation may indeed provide as news to be hopeful about. OriginationNews.com


Compliance Updates

Feb. 1 – Freddie Mac announces updates to ULDD.

Feb. 1 – Fannie Mae updates Selling Guide to include financing details, and quality control updates. FannieMae.com


Jan. 30 – VA announces 2012 county loan limits. VA.gov


Jan. 19 – The VA extends rescission date for execution of quitclaim deeds. VA.gov


Jan.19 – VA extends rescission date for property preservation requirements and fees. VA.gov


To see all the latest mortgage compliance news and updates, visit our News & Resources page.


Deadlines

March 19, 2012

Freddie Mac: Mortgages Delivered On Or After 3/19/12 To Be In MISMO v3.0 Format

For all mortgages delivered to Freddie Mac on or after March 19, 2012, data must be delivered in the MISMO v3.0 format; and if the mortgage application date is on or after December 1, 2011, the delivery must include the required ULDD data points. More details at FreddieMac.com


March 19, 2012

Freddie Mac: Requiring Appraisal Color Photographs

Effective for conventional mortgages that require appraisal reports and have delivery dates on or after 3/19/12, Freddie Mac is requiring all appraisal photographs to be in color and eliminating acceptability of facsimile copies of appraisal reports. Read at FreddieMac.com


March 19, 2012

Freddie Mac: Retiring MIDANET

Freddie Mac is retiring MIDANET for delivery and removing references to it from the Guide. Visit FreddieMac.com for more information.


Events

February 5-8, 2012

MBA’s CREF/Multifamily Housing Convention & Expo

Atlanta, GA
For more information, visit mbaa.org


February 21-24, 2012
MBA’s National Mortgage Servicing Conference & Expo
Orlando, FL
To learn more, visit mbaa.org


Get important compliance updates right away! Follow and Friend us on Twitter and Facebook.

Feel free to call us with any questions at 877-226-3216 or reply to this email.

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Feb
01
2012

Freddie Mac Announces ULDD Updates

Feb. 1 – Freddie Mac announces updates to ULDD. FreddieMac.com

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Jan
23
2012

Proposed QRM Rule Causes Strife

A new regulatory proposal is set to require a minimum down payment of 20 percent on Qualified Residential Mortgages (QRM).  It is suggested that this proposal down payment requirement provides as a direct hindrance to first-time home buyers, working class borrowers, and minorities.  The 20 percent requirement will make it more expensive and difficult for qualified borrowers to attain home ownership.  The MBA, and assumably many others, are fighting to eliminate the down payment requirement altogether, before the rule is finalized.  Isn’t the idea to make home ownership affordable and attainable?  This QRM proposal certainly doesn’t help this value.  Find out more information at  NationalMortgageNews.com.

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Jan
11
2012

Read Our 2012 January Newsletter

Jan. 11 – Read our January newsletter with agency updates and notes from our last webinar. MCA.com

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Jan
11
2012

MCA Monthly Compliance Update – January 2012
MCA Logo

MCA Monthly Compliance Update

January 2012


Our Services



Pre-Funding Reviews
Stay Updated
Connect with us:
View our profile on LinkedIn Follow us on Twitter Find us on Facebook
Join Our Mailing List!

Welcome to the MCA Monthly Compliance Update. To help you stay compliant and up-to-date, our newsletters contain mortgage compliance tips and updates. We hope that you find the content informative and useful. As always, your feedback is appreciated.


Industry Highlights

Read our notes from our most recent free webinar series, “Looking Back & Planning Ahead”.  The new year has arrived, and it’s time to comply with old and new regulations.  Review mortgage compliance in 2011, and how we may expect to comply in 2012.


To view the webinar presentation for “Looking Back & Planning Ahead”, follow the link below:


Looking Back & Planning Ahead Presentation


Compliance Updates

Jan. 6 – Freddie Mac revises requirements announced in Bulletin 2011-22. FreddieMac.com


Jan. 3 – HUD addresses large loan risk mitigation policies. HUD.gov


Dec. 30 – Fannie and Freddie announce guaranty fee increase effective April 1, 2012. eFannieMae.com FreddieMac.com


Dec. 29 – VA announces final change to regulation for modifying VA guaranteed home loans. VA.gov


Dec. 29 – VA announces value adjustments and the requirement for interior photos of subject properties.
VA.gov


To see all the latest mortgage compliance news and updates, visit our News & Resources page.


Deadlines

January 1, 2012

Fannie Mae: Mortgage Loans Delivered to use Revised Form 2100 03/06 (rev 12/10)

In order for lenders to deliver mortgage loans secured by properties on community land trusts, they must use the appropriate Fannie Mae ground lease rider.  Fannie Mae has revised its standard community land trust ground lease rider for use with the NCLTN 2011 CLT Network Model Ground Lease and with the ICE Model Ground Lease.

The new version of Fannie Mae’s ground lease rider is labeled the Community Land Trust Ground Lease Rider, Form 2100 3/06 (rev 12/10).  Lenders may use Form 2100 3/06 (rev 12/10) with either the NCLTN 2011 CLT Network Model Ground Lease or the ICE Model Ground Lease. Lenders should be certain that their community land trust partners have approved the use of the 12/10 version of Form 2100 before the 3/06 version is retired 12/31/2011. Loans delivered after 12/31/2011 must use the 12/10 version of Form 2100.


For details on this subject matter, please follow the link eFannieMae.com


March 19, 2012

Freddie Mac: Mortgages Delivered On Or After 3/19/12 To Be In MISMO v3.0 Format

For all mortgages delivered to Freddie Mac on or after March 19, 2012, data must be delivered in the MISMO v3.0 format; and if the mortgage application date is on or after December 1, 2011, the delivery must include the required ULDD data points. More details at FreddieMac.com


March 19, 2012

Freddie Mac: Requiring Appraisal Color Photographs

Effective for conventional mortgages that require appraisal reports and have delivery dates on or after 3/19/12, Freddie Mac is requiring all appraisal photographs to be in color and eliminating acceptability of facsimile copies of appraisal reports. Read at FreddieMac.com


March 19, 2012

Freddie Mac: Retiring MIDANET

Freddie Mac is retiring MIDANET for delivery and removing references to it from the Guide. Visit FreddieMac.com for more information.


Events

February 5-8, 2012

MBA’s CREF/Multifamily Housing Convention & Expo

Atlanta, GA
For more information, visit mbaa.org


February 21-24, 2012
MBA’s National Mortgage Servicing Conference & Expo
Orlando, FL
To learn more, visit mbaa.org


Get important compliance updates right away! Follow and Friend us on Twitter and Facebook.

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Jan
10
2012

Freddie Mac Introduces Unemployment Forbearance

Jan. 9 - Freddie Mac introduces unemployment forbearance and revises HAMP requirements.  FreddieMac.com

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Jan
06
2012

Freddie Mac Revises Requirements In Bulletin 2011-22

Jan. 6 - Freddie Mac revises requirements announced in Bulletin 2011-22. Learn more at FreddieMac.com

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Dec
31
2011

Freddie Mac Announces Guarantee Fee Increase

Dec. 30 – Freddie Mac announces increase in guarantee fees. FreddieMac.com

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Dec
30
2011

GSE Guarantee Fee Hike Debut April 1

After the Federal Housing Finance Agency directed GSEs, Fannie and Freddie, to implement a mandated increase in their loan guarantee fees – you can surely expect it… April 1, 2012.  The payroll tax cut extension bill passed by Congress on Dec. 23 requires that GSEs charge an average g-fee in 2012 of at least 10 basis points higher than in 2011.  The bill also prompts the GSE regulator to adjust the g-fees so all lenders pay the same fee.  The legislation plans to give FHFA two years to implement a uniform fee structure.

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