The Federal Housing Finance Agency (“FHFA”) has announced an increase to maximum conforming loan limits.  The conforming loan limits represent the maximum original loan amounts eligible for purchase by Fannie Mae and Freddie Mac.

On November 1, 2019, the Texas Finance Commission published amendments adopted for the Texas Administrative Code rules 7 TAC §§80.201 and 81.201 in the Texas Register (44 Tex Reg 6524, 6527).   

The Washington Department of Financial Institutions has adopted amended rules under the Consumer Loan Act (WAC 208-620) as authorized by Wash. Rev. Code Ann. §§ 43.320.040 and 31.04.165, with an effective date of November 24, 2019.  The changes are intended to implement amendments to the federal SAFE Act, the federal law requiring the licensure of individual mortgage loan originators.

The 12-month period beginning with a loan’s first payment date, and recurring each 12-month period thereafter, used for performing an escrow account yearly analysis.

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On November 15, 2019, the Alternative Reference Rates Committee (“ARRC”) released “recommended contractual fallback language” for closed-end, residential adjustable-rate mortgages (ARMs).

Updated to most recent website version. (Date of Release to Production: 11/22/19)

Updated to most recent website version. (Date of Release to Production: 11/22/19)

On November 15, 2019, the Consumer Financial Protection Bureau (“CFPB”) issued an interpretive rule to provide clarification on screening and training requirements for mortgage loan originator organizations that employ individual loan originators with temporary authority.

Updated to most recent website version. Form goes into effect on: 11/24/19. (Date of Release to Production: 11/22/19)