This Announcement updates policy requirements related to the seller/servicer’s net worth and liquidity and subservicing and
outsource vendor requirements.
May 2015 AQM List Posted
The May 2015 Appraiser Quality Monitoring (AQM) list has been posted on the Appraiser Quality Monitoring page.
This Notice advises lenders that DU Refi Plus™ and Refi Plus™ have been extended until December 31, 2016.
The New Mexico security instrument - Form 3032 – has been revised to convert it from a deed of trust form to a mortgage form,
which now provides for judicial foreclosures.
New Second Home with Rental Income Job Aid
A new lender job aid answers the question "If a borrower is refinancing a second home and reports receiving rental income
from the subject property, can the transaction be eligible as a second home?"
At the direction of the Federal Housing Finance Agency, the Adverse Market Delivery Charge is being discontinued and certain
loan-level price adjustments are being changed, effective with whole loans purchased on or after September 1, 2015, or loans
delivered into MBS pools with issue dates on or after September 1, 2015 (including DU Refi Plus™ and Refi Plus™ loans). The
details of the pricing adjustments are available in the Loan-Level Price Adjustment (LLPA) Matrix and the Refi Plus™ Loan-Level
Price Adjustment (LLPA) Matrix.
The update introduces the Servicing Execution Tool™ (SET™) Bifurcation option for approved lenders and updates policies related
to margin requirements for co-op share ARM loans; owner-occupancy requirements; ALTA short form coverage; alignment of the
Selling Guide with Desktop Underwriter® messages for derogatory credit events and disputed credit tradelines; and other miscellaneous
updates and changes.