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.
  • 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.
  • 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.
  • May 27 – HUD informs lenders about changes which impact the execution and completion of post-approval updates and FHA’s annual recertification process.

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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