Recent News

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July 19, 2018

Fannie Mae - Servicing Management Default Underwriter™ (SMDU™) Release Notes for SMDU Version 7.13

During the weekend of July 21, 2018, Fannie Mae will implement SMDU Version 7.13. During this implementation SMDU will not be available to process transactions from 10 p.m. Eastern Daylight Time on July 20, 2018, until 11 a.m. Eastern Daylight Time on July 21, 2018. Please do not submit transactions to SMDU during this period.

The changes described in these Release Notes...


Agency | GSE News
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July 19, 2018

Fannie Mae - Lender Letter LL-2018-03, Single-Family Servicers Mortgage Insurance Termination

To simplify the process of evaluating borrower-initiated requests for the termination of conventional mortgage insurance (MI), we are updating our requirements. These new requirements will result in a better customer experience for both servicers and borrowers.

Our requirements related to borrower-initiated conventional MI termination requests have been changed to reflect the following:

  •  For borrower-initiated MI termination requests based on...

Agency | GSE News
Webinar: Agency and Regulatory Reporting Essentials
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July 19, 2018

Confirmation of Sale Scrutiny in Kansas

DSNews--Blair T. Gisi

Within the last several months, the Kansas Court of Appeals has taken a closer look at the procedure for confirming Sheriff’s Sales in Kansas. K.S.A. §60-2415(a) states, “If the court finds the [sale] regular and in conformity with law and equity, it shall confirm the same.” That statute goes on to set out that, under the courts’ equitable...


State News
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July 19, 2018

Freddie Mac Servicing Industry Letter

REMINDERS ON SERVICING MORTGAGES IMPACTED BY ELIGIBLE DISASTERS

In response to inquiries related to recent and potential disasters, we are reminding Servicers of our requirements for servicing Mortgages impacted by Eligible Disasters.

Servicers must comply with Guide Chapter 8404 when servicing Mortgages where the related Borrower’s Mortgaged Premises or place of employment is located in an Eligible Disaster Area (i.e....


Industry News
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July 19, 2018

Fannie Mae - Lender Letter LL-2018-04, ​Disaster Policy Reminders and Updates

In response to servicer inquiries related to recent and potential disasters, such as hurricanes and wildfires, we are providing this Lender Letter with reminders and additional guidance to servicers to assist homeowners impacted by a disaster.

This Lender Letter provides information about the following topics:

  • Reimbursement of Insured Loss Repair Inspection Costs
  • Inspecting Disaster-Impacted Properties
  • Fannie Mae Extend Modification for Disaster Relief
  • Disbursing Hazard Loss...

Agency | GSE News
ACES Intelligent Questionnaires
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July 18, 2018

Bureau of Consumer Financial Protection Announces Director for The Office of Innovation

WASHINGTON, D.C. — Bureau of Consumer Financial Protection (Bureau) Acting Director Mick Mulvaney today announced he has selected Paul Watkins to lead the Bureau’s new Office of Innovation.

“I am delighted that Paul Watkins is bringing his deep expertise, track record of protecting consumers, and commitment to innovation to the Bureau,” said Acting Director Mulvaney. “I am confident that, under his...


Industry News
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July 18, 2018

The Future of Digital Currency

Financial Services Committee--Sarah (Rozier) Flaim; Keeley Christensen

WASHINGTON – The Monetary Policy and Trade Subcommittee met today to examine the extent to which the United States government should consider cryptocurrencies as money, and their potential effect on domestic and foreign economies. The Subcommittee also evaluated the merits of any uses by central banks of cryptocurrencies to better understand the future of...


Industry News