VA issued Circular 26-22-17 (Circular), updating procedural requirements related to the acceptability of private roads and shared driveways. Per the Circular, an ongoing maintenance agreement from a homeowner’s association or a joint maintenance agreement from the owners of properties accessed by the private road or shared driveway is no longer required for properties with private roads and shared driveways. In addition, item 5 of the Notice of Value (NOV) is no longer required to be marked as the conditions addressed by item 5 no longer apply. However, a recorded permanent easement or recorded right-of-way from the property to a public road is still required to be placed in the loan file. The changes announced in the Circular went into effect November 25, 2022.
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Freddie Mac issued Bulletin 2024-G (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to custom modifications functionality in
September 12, 2024
Fannie Mae issued Servicing Guide Announcement SVC-2024-05 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified servicer responsibilities related to
September 12, 2024
FHA issued Mortgagee Letter 2024-18, updating debenture interest rates used for the payment of debenture interest for Home Equity Conversion Mortgage (HECM) claims and establishing
September 6, 2024
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