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Read articles below for analysis and discussion of recent trends by BM&G’s industry experts.
HUD Announces 30 Basis Point Reduction for Annual MIP Premiums
On February 22, 2023, the U.S. Department of Housing and Urban Development (“HUD”) announced a 30 basis point reduction to the...
Fannie Mae Announces New 12-Month Seasoning Requirement for Cash-Out Refinances
On February 1, 2023, Fannie Mae announced a new seasoning requirement for cash-out refinances in Selling Guide Announcement...
Texas Attorney General opines that a corporate entity may act as a trustee or substitute trustee of a deed of trust in Texas
In an Opinion issued on February 6, 2023 (Opinion No. KP-0424), Ken Paxton, the Attorney General of Texas, stated that a court...
Freddie Mac Announces New Seasoning Requirement for Certain Cash-Out Refinances
In Bulletin No. 2022-25, issued on December 7, 2022 (Bulletin No. 2022-25), Freddie Mac announced a new seasoning requirement...
FHA Revises Conflict of Interest and Dual Employment Policies
On December 15, 2022, the FHA issued Mortgagee Letter 2022-22 (the “Mortgagee Letter”) amending FHA’s policies with respect to...
HMDA Regulation C Technical Amendments Reduce Closed-end Mortgage Loan Reporting Threshold
In the December 21, 2022, Federal Register (87 FR 77980), the CFPB issued technical amendments to Regulation C §§1003.2 and...
Fannie Mae form update
As a reminder, loans that will be delivered to Fannie Mae or Freddie Mac with note dates on or after January 1, 2023 must be...
Federal Agencies to Increase Higher-priced Mortgage Loan Appraisal Exemption Threshold
In the October 20, 2022, issue of the Federal Register (87 FR 63663), the Office of the Comptroller of the Currency, Treasury...
FRB and CFPB Increase Regulation Z Exemption Threshold
In the October 20, 2022, issue of the Federal Register (87 FR 63671), the Board of Governors of the Federal Reserve System (FRB)...