On February 28, 2022, the Internal Revenue Service (“IRS”) announced a further extension of the deadline to submit a form 4506-C that conforms with the requirements for new Optical Character Recognition (“OCR”) software. To provide IVES partners more time to make updates, the mandatory date has been moved from March 1, 2022 to October 1, 2022.
Fannie Mae released Selling Guide Announcement (SEL-2022-01) on February 2, 2022, to announce recent changes to their Selling Guide, including the following:
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On July 7, 2021, Fannie Mae and Freddie Mac (the “GSEs”) announced changes to all uniform instruments, except those being retired - including notes, riders, security instruments, addenda, and special-purpose documents.
The Florida Department of State (the “Department”) adopted a new rule (Rule No. 1N-7.005) regarding the collection of remote online notary information and remote online service provider information.
Protecting digital assets using several layers of security, with each layer providing an additional defense.
The State of California, at Cal. Civil Code § 1785.20.3(f), requires a creditor – whom a consumer informs that they are the victim of identity theft – to provide certain information to that consumer in response to that disclosure. A creditor must disclose to the consumer their rights that are provided by the California Civil Code, specifically section 1785.16(k).
On February 23, 2022, the Consumer Financial Protection Bureau (“CFPB”) released a factsheet regarding the interest rate used to calculate prepaid interest for adjustable-rate mortgages (“ARMs”) and step-rate loans under the price-based General Qualified Mortgage (“QM”) rule.
The U.S. Department of Agriculture, Rural Housing Service (“RHS”) has issued a final rule to implement changes to the Single-Family Housing Guaranteed Loan Program (“SFHGLP”) to mandate the use of the RHS Guaranteed Underwriting System (“GUS”) for all supported loan originations and the Lender Loan Closing System (“LLC”) for loan closings. Currently, the RHS allows approved lenders to submit applications for loan guarantee requests in GUS, or by mail and email.
Agreement for Participation in Single Family Housing - Guaranteed/Insured Loan Programs of the United States Government
RD355516.RH
New (replaced 198016.RH). (Date of Release to Production: 02/17/22)
