MetaSource Mortgage Blog

MCA Monthly Compliance Update – July 2013

Monday, July 22, 2013

Welcome to the MCA 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

In today’s mortgage environment, lenders are faced with more risk and responsibility. Mortgage Compliance Advisors understands the need for an appraisal review solution that delivers quality results.

Our experienced industry professionals, technology platform, and work flow are held to high standards so that the appraisal review results we deliver are the quality you expect.

Mortgage Compliance Advisors has developed a process to give you the best of all appraisal solutions by combining our hands-on review with an automated valuation tool. Contact MCA Sales to get started today.

Compliance Updates

  • July 19 – Fannie Mae provides guidance through data change process steps for lender staff responsible for receiving post-purchase reviews.
  • July 18 – Freddie Mac makes several updates and revisions to its selling requirements relating to topics such as Freddie Mac Relief Refinance Mortgages and ULDD.
  • July 9 – HUD establishes FHA pre-foreclosure sale and deed in lieu of foreclosure requirements.
  • July 2 – Freddie Mac issues Industry Letter notifying sellers of its revised requirements as a result of CFPB’s final rule on ability to pay and qualified mortgages.
  • July 1 – Fannie Mae provides guidance to servicers in connection with loan modification assistance programs.

Industry Events

August 14, 2013
CFPB Compliance – Is Your Borrower Communication Up To Standard?
Webinar

August 21-23, 2013
Advanced School of Mortgage Servicing - August
Jacksonville, FL

September 10, 2013
Manual Underwriting and Risk Analysis Workshop
Phoenix, AZ

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