The GSEs recently published new Spanish Translations for the 07/2021 revised Uniform Instruments. The forms are currently available on Fannie Mae’s Multi-Language Resource for Lenders webpage. The webpage notes that additional translations for Korean, Tagalog, traditional Chinese and Vietnamese are “coming soon.”
The Ohio Department of Commerce recently published its annual adjustment to the loan amount limits for prepayment penalties. Ohio Rev.
The Department of Veterans Affairs (“VA”) has announced several form updates since the start of the new year:
VA Circular 26-23-02
IVES - Income Verification Express Service is an IRS program used by mortgage lenders to confirm a borrower's income.
As previously announced, the Internal Revenue Service (“IRS”) has released a final draft of Form 4506-C, IVES Request for Transcript of Tax Return, as part of a broader modernization effort. The new form includes changes to make it better suited for use with optical character recognition (“OCR”).
Following the recommendation of the Federal Reserve Board, Fannie Mae and Freddie Mac (the “GSEs”) published servicing notices on January 25, 2023, confirming that the Secured Overnight Financing Rate (“SOFR”) index will be the replacement index used for servicing legacy single-family adjustable
Having a digital action plan is critical to your strategic outlook for 2023! Meet the eClosing experts from DocMagic at the ICE Experience 2023 user conference on February 27-March 1, 2023 at the Wynn in Las Vegas.
As previously announced, DocMagic has released new versions of FHA-specific notes, riders, and security instruments based on the updated Fannie Mae and Freddie Mac (“GSEs”) uniform instruments published in July 2021. While these new documents have been released, they will not yet be made available for customer use as FHA has also today published Mortgagee Letter (ML) 2023-01 with updated instructions for modification of the GSE
New Document: Wyoming FHA Mortgage - MERS
WYMTGZ2N.FHA
New FHA Security Instrument to comply with Fannie Mae Update. (Date of Release to Production: 01/20/23)
