What’s newEffective October 1, 2025, mortgage lenders in Connecticut must obtain an exempt mortgage servicer registration before performing servicing activities. What changedPreviously, licensed mortgage lenders could service their own originations without a separate servicing license/registration if they: Under the Banking Law of Connecticut revisions taking effect Oct 1, 2025, lenders must now register as an exempt servicer even if they meet those conditions. Department guidance Who’s affected […]

The Texas Legislature enacted two laws to combat deed fraud and strengthen notary practices tied to real-property documents. SB 1734 — Fast-track relief from fraudulent filings SB 693 — Stronger notary standards and penalties Read the enrolled bills: SB 1734 and SB 693.

As communities across Texas recover from devastating flooding, the Federal Housing Administration (FHA) has issued updated guidance for servicers and originators working with borrowers in Presidentially-Declared Major Disaster Areas (PDMDA). Relief for Existing FHA Borrowers Lenders must implement a 90-day foreclosure moratorium beginning on the date of the disaster declaration. They are also encouraged to […]

Lenders originating loans in New York are now required to provide mortgage applicants with an informational pamphlet titled “What Mortgage Applicants Need to Know.” This new requirement stems from Section 35 of New York’s Banking Law, which outlines the core content to be included in the pamphlet while granting the New York Department of Financial […]

Borrowers in rural communities now have expanded financing options, thanks to the USDA’s updated loan guidelines. For the first time, existing manufactured homes may be eligible for USDA-guaranteed loans. Previously, only new manufactured homes purchased through approved dealers qualified for USDA financing. Under the new policy, homes may now be eligible as long as they […]

The Federal Housing Administration (FHA) announced last month that it is ending the COVID-19 era loss mitigation waterfall. In Mortgagee Letter 2025-12, FHA indicated that the COVID-19 loss mitigation options, which were intended to be temporary, will officially sunset on September 30, 2025. The new permanent loss mitigation options previously scheduled to go into effect on […]

The controversial practice of credit bureaus selling information on consumers who had their credit pulled for purposes of applying for a mortgage or other loan is known as a “trigger lead.”  Idaho and Utah were the latest states to address this issue by prohibiting lenders from using information obtained from a trigger lead to solicit […]

Fannie Mae has issued an Information Security and Business Resiliency Supplement (the “Supplement”) which includes new and updated requirements related to information security, incident management and business resiliency for both sellers and servicers.  The Supplement consolidates requirements related to cybersecurity which were previously contained in the Selling Guide, Servicing Guide and Consolidated Technology Guide.  In […]

The USDA’s Rural Housing Service has updated its mortgage recovery advance program (MRA) with the goal of eliminating or reducing documentation and eligibility challenges for defaulting borrowers. An MRA assists borrowers by advancing the funds necessary to pay off past due amounts and provide a principal reduction in an amount necessary to achieve a target […]

The Texas Department of Savings and Mortgage Lending (“Department”) issued updated rules relating to mortgage companies, loan originators, mortgage bankers, and mortgage servicers.  The revisions are aimed at modernizing and updating the rules by adding and replacing language for clarity, removing unnecessary or duplicative provisions, and updating terminology.    Mortgage Loan Originators, Mortgage Companies and Mortgage […]