MetaSource Mortgage Blog

MCA Monthly Compliance Update – April 2014

Friday, April 18, 2014

Welcome to the MetaSource Mortgage Monthly Compliance Update. To help you stay compliant and up-to-date, our newsletters contain mortgage compliance tips and updates. We hope that you find the content informative and useful. As always, your feedback is appreciated.

Service Spotlights

When was the last time you updated your mortgage compliance QC Plan? If it was 2013 or earlier, it's likely your QC Plan is non-compliant. Have you reviewed your plan and measured it comparatively to industry and agency standards and requirements? Well, it’s time as new rules and requirements are now in effect. Join MetaSource Mortgage for an information-packed webinar in which you will learn how to complete a compliant and updated QC Plan.

Compliance Updates

  • April 14 – Effective April 21, Fannie Mae will implement several enhancements to the Cash Remittance System (CRS). FannieMae.com
  • April 1 – Freddie Mac provides clarification and guidance regarding property and appraisal requirements for properties located in rural market areas.  FreddieMac.com
  • March 28 – Fannie Mae expands the Standard Modification and Streamlined Modification programs to include mortgage loans with a pre-modified mark-to-market loan-to-value (MTMLTV) ration less than 80%.  FannieMae.com
  • March 27 – The Department of Veterans Affairs (VA) announces new mandatory stacking order for files selected for VA full file loan review – effective May 1, 2014. VA.gov

Industry Events

May 4-7, 2014
Legal Issues/Regulatory Compliance Conference
San Diego, CA

May 18-21, 2014
National Secondary Market Conference & Expo
New York, NY

June 25-27, 2014
MBA Strategic Markets and Diversity Conference
Washington, DC

Contact us to learn more about mortgage compliance updates 

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