MetaSource Mortgage Blog

MCA Monthly Compliance Update – October 2013

Friday, November 08, 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 Spotlight

Before your file closes, make sure to cover all your bases.

In this ever-changing industry, it is safe to assume that every business could benefit from a QC heads-up. A prefunding QC review is an essential, important part of assessing and ensuring data quality and mitigating compliance and credit risk.Contact MCA Sales for more information.

Compliance Updates

  • October 28 – HUD updates reasonable diligence timeframes and schedule of attorney fees for all jurisdictions.
  • October 17 – Fannie Mae updates mortgage release (standard deed-in-lieu of foreclosure) requirements.
  • October 11 –Fannie Mae updates delinquency management and default prevention policies impacted by certain CFPB rules.
  • October 9 – Department of Veterans Affairs provides special relief following the federal government shutdown.
  • October 8 – Freddie Mac makes property valuation tools and systems available to seller/servicers.

Industry Events

November 13, 2013
Retained Servicing Workshop
Dallas, TX

November 19-21, 2013
Accounting and Financial Management Conference
Boca Raton, FL

December 4-6, 2013
Independent Mortgage Bankers Conference
Miami, FL

Contact Mortgage Compliance Advisors to learn more


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