MetaSource Mortgage Blog

MCA Monthly Compliance Update – August 2013

Friday, August 23, 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

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Compliance Updates

  • August 20 – Freddie Mac announces updates in response to the CFPB final rule on ability to repay.
  • August 15 – Freddie Mac implements revisions and updates its servicing requirements regarding disaster relief, default legal matters, and more.
  • August 15 – HUD provides minimum underwriting requirements for borrowers whose income was reduced due to extenuating circumstances.
  • August 7 – Fannie Mae updates policies relating to assistance for borrowers impacted by disasters.
  • August 1 – Fannie Mae describes policy updates regarding increased HAMP modification incentives and more.

Industry Events

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

September 23-27, 2013
MISMO Fall 2013 Educational Summit and Workshop
Arlington, VA

September 29 – October 1, 2013
Regulatory Compliance Conference
Washington, DC


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