A non-physical asset, such as a right to receive payment, that is represented by a controllable electronic record.  For example, an electronic HELOC that is not a negotiable instrument, would be a controllable payment intangible.

The Federal Housing Finance Agency (“FHFA”) and the U.S. Department of the Treasury (“Treasury”) have announced amendments to the Preferred Stock Purchase Agreements (“PSPAs”) that govern the conservatorship of Fannie Mae and Freddie Mac (the “GSEs”). 

The Federal Housing Administration (“FHA”) recently issued Title I Letter 489 (“TIL-489”) to announce the adoption of the Uniform Residential Loan Application (“URLA”) for Title I loan programs. Title I loan programs, established under the National Housing Act, provide homeowners with the ability to finance home improvements or repairs through FHA-insured loans.

In March 2024, Kansas Governor Laura Kelly signed House Bill 2247 (“H.B. 2247”) into law. A significant aspect of the bill was the relocation of mortgage-related provision from the Kansas Uniform Consumer Credit Code (“KUCCC”) to the Kansas Mortgage Business Act (“KMBA”).

On January 3, 2025, the U.S.

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The U.S. Department of Veteran Affairs (“VA”) recently published a proposed rule in the Federal Register to amend its regulations governing loan reporting requirements at 38 C.F.R. 36.4303, which would affect  lenders that participate in the VA-guaranteed home loan program.  In addition, the proposed rule includes amendment to VA’s partial or total loss of guaranty or insurance regulation at 38 C.F.R.

Corrected numbering on page 16. (Date of Release to Production: 01/23/25)

Corrected numbering on page 16. (Date of Release to Production: 01/23/25)

Updated footer information. (Date of Release to Production: 01/16/25)