On July 3, 2025, the Federal Deposit Insurance Corporation (“FDIC”) issued the Summer 2025 edition of its Consumer Compliance Supervisory Highlights (“Supervisory Highlights”). The latest edition focuses on information about the overall results of the approximately 800 FDIC consumer compliance examinations conducted in 2024 providing some insight into areas of consumer compliance performance, the most frequently cited violations, and growing trends in consumer complaints. Learn More
On July 8, 2025, Federal Housing Finance Agency (“FHFA”) Director Bill Pulte announced in a social media post that the government-sponsored enterprises, Fannie Mae and Freddie Mac (the “GSEs”), will accept either the VantageScore 4.0 credit model or Classic FICO alone for mortgage underwriting, effective immediately. Read More
The U.S. Department of Housing and Urban Development (“HUD”), through its Office of Environment and Energy, and the U.S. Department of Agriculture (“USDA”) published a notice for comment on “Adoption of Energy Efficiency Standards for New Construction of HUD- and USDA-Financed Housing” in the Federal Register on July 7, seeking public comments on their final determination regarding updated energy efficiency standards. Read More
North Carolina’s Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act (“SAFE Act”) governs licensing and conduct of mortgage originators, brokers, and lenders operating in the state and applies statutory caps on lender origination fees. Read More
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Centralized Authorization File (CAF)
Where tax records may be deposited for review by designees of a Taxpayer, such as those designees identified on IRS Form 8821.
Washington recently passed Senate Bill 5686 (“S.B. 5686”) to expand foreclosure requirements under the Mortgage Broker Practices Act and Consumer Loan Act. The bill includes several key provisions that are intended to help homeowners facing potential foreclosure. Read More
Freddie Mac recently published standardized subordinate-lien mortgage documents for additional states. The new state-specific forms are available on the Freddie Mac subordinate-lien document webpage. Read More
The U.S. Department of Agriculture - Rural Development (“USDA”) has announced updates to several chapters of the Single Family Housing Guaranteed Loan Program Technical Handbook (“HB-1-3555”). Read More
In order to keep DocMagic software users better apprised of document changes and additions as they occur, DocMagic posts listings of all newly created and revised documents. Here is the list of forms created or modified in July 2025.To view all New/Revised Documents, click here. Read More
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