MetaSource Mortgage Blog

MCA Monthly Compliance Update June 2014

Thursday, July 17, 2014

Welcome to the MetaSource Mortgage Compliance Advisor 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.

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Compliance Updates

  • June 4 – Fannie Mae will now allow servicers to approve borrowers for the Fannie Mae Unemployment Forbearance program, including extensions. Requirements must be met. FannieMae.com
  • June 3 – Freddie Mac updates and revises a number of servicing requirements, which include unemployment forbearance requirements, acceptable borrower documentation for "Distant Employment Transfer Relocation," and more. FreddieMac.com
  • May 30 – Fannie Mae administers updates and clarifications for its short sale and Mortgage Release policy, which includes expanded eligibility requirements for certain service members, additional limitation for short sales, and more. FannieMae.com
  • May 27 – HUD informs lenders about changes which impact the execution and completion of post-approval updates and FHA’s annual recertification process. HUD.gov

Industry Events

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

September 7-9, 2014
MBA Risk Management and Quality Assurance Forum
Miami, FL

September 28-30, 2014
MBA Regulatory Compliance Conference 2014
Washington, DC

Contact us to learn more about mortgage compliance updates

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