Fannie Mae recently issued Selling Guide Announcement SEL-2024-06 to announce forthcoming changes to Selling Guide requirements.  Fannie Mae included the following updates:

Green MBS Program

On September 25, 2024, the Federal Housing Finance Agency (“FHFA”) announced that it is revising its previously issued proposal to amend the Suspended Counterparty Program (“SCP”).  The SCP requires a regulated entity (Fannie Mae, Freddie Mac, all Federal Home Loan Banks, and any of their affiliates) to submit a report to FHFA if it becomes aware that an institution or individual that it does business with has committed certain types of misconduct w

The Department of Veterans Affairs (“VA”) has issued Circular 26-24-19, which details when a lender needs to provide an invoice or other documentation to support itemized fees and charges paid by a veteran on a VA-guaranteed loan. 

Web Content Accessibility Guidelines that govern how to build and display website content to make it more accessible, published by the World Wide Web Consortium, the main international standards organization for the internet. 

On September 23, 2024, the Federal Housing Administration (“FHA”) posted a draft Mortgagee Letter, Adoption of Federal Flood Risk Management Standard (FFRMS) for Minimum Property Standards (MPS) in Special Flood Hazard Areas (SFHA), on the Single Family Housing Drafting Table. 

Freddie Mac has announced the availability of standardized subordinate-mortgage documents for additional states.  The new state-specific forms are available on the Freddie Mac subordinate-lien document webpage. The webpage also provides additional information regarding the use of the standardized subordinate-lien documents, including FAQs and links to additional lender information.

As part of our regular maintenance of forms, DocMagic is making an update to forms that are modeled on now retired Fannie Mae and Freddie Mac Uniform Instruments.  The update will consist of removing “Fannie Mae/Freddie Mac Uniform Instrument” or “Fannie Mae/Freddie Mac Modified Instrument” from the footer information as applicable since these are no longer published as uniform instruments by Fannie Mae or Freddie Mac. 

DocMagic is exhibiting at the mortgage industry’s premier convention, MBA Annual 24 in Denver, Colorado from Oct. 27 - 30. 

Increased top margin to 1.50 inches to comply with the State of Ohio recording requirements. (Date of Release to Production: 09/19/24)

Updated footer logo to most recent version. (Date of Release to Production: 09/19/24)