GSEs to Review Use of Digital Assets in Mortgage Risk Assessment
On June 25, 2025, William Pulte, the Director of the Federal Housing Finance Agency (“FHFA”) published a signed order on his social media account, that directs Fannie Mae and Freddie Mac (collectively, the “GSEs”) to consider cryptocurrency as an asset for Single-Family mortgage loans. Learn More
As previously discussed, both houses of Congress had passed new legislation to protect consumers from an onslaught of solicitation from “trigger leads;” however, since they had not passed the same bill in the same session of Congress, those bills had not been able to yet become law. Read More
Minnesota recently passed the Commerce Omnibus Finance and Policy Act (“H.F. 4”) that changed the maximum interest rate allowed for conventional subordinate liens. Under the amended Minnesota Statutes section 47.20, subdivision 4a, a conventional subordinate lien may not have an interest rate that exceeds an amount equal to the Average Prime Rate Offer (“APOR”) that applies to a comparable transaction... Read More
Fannie Mae recently issued Selling Guide Announcement SEL-2025-07 to announce changes to their Selling Guide that include reconsideration of value requirements, and borrower ownership interest in life estates. Read More
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Remaindermen
A beneficiary who holds a future interest in a property that they are entitled to receive after the termination of the prior estate, such as a life estate.
On June 26, 2025, the U.S. Department of Agriculture – Rural Development (“USDA”) announced updates to several chapters of the Single Family Housing Guaranteed Loan Program (“SFHGL”) Technical Handbook (“HB-1-3555”). Read More
Colorado Board of Mortgage Loan Originators (the “Board”) recently held a Rule-Making Hearing during which Chapter 5: Professional Standards of the rules governing Mortgage Loan Originators, found at 4 CCR 725-3, was reviewed. Read More
In Maryland, a new law passed in Senate Bill 689 and companion bill, House Bill 1018, which requires certain mortgage lenders to allow an existing borrower who is getting a divorce to assume a conventional mortgage if they meet financial qualifications, including creditworthiness and income. 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 August 2025.To view all New/Revised Documents, click here. Read More
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