On Feb. 4, 2015, Fannie Mae released Lender Letter 2015-02 to provide clarifications and additional information about Collateral Underwriter, Appraiser Quality Monitoring (AQM) and updates to the Property Eligibility and Appraisal Requirements section of the Selling Guide.
Fannie Mae's CU is a tool that lenders can use to assign a risk score to appraisals and identify aspects of the appraisal that may require further attention.
Communities that were slated for federal rural housing program ineligibility on February 2, 2015 due to "rural in character" criteria will be reinstated as eligible through Sept. 30, 2015.
Topics: Rural Housing Programs
The Federal Housing Administration’s (FHA) 50 basis point mortgage insurance premium (MIP) reduction goes into effect.
A commercial drone pilot, Raphael Pirker, has settled his long-running case with the Federal Aviation Administration.
On Wednesday, January 21, the House Science, Space, and Technology Committee held a hearing to discuss innovations in unmanned aircraft systems (UAS, or "drones"), the need for FAA rules on their commercial use, and the roadblocks to getting those rules promulgated.
On Thursday January 22, 2015, the Consumer Financial Protection Bureau (CFPB) and the Maryland Attorney General fined two banks for illegal payments for referrals under the guise of marketing and other agreements under the Real Estate Settlement Procedures Act (RESPA).
The Environmental Protection Agency's (EPA) Office of Research and Development released the final science report, Connectivity of Streams and Wetlands to Downstream Waters.
Topics: Clean Water Act
The Senate Commerce, Science & Transportation Committee and the House Subcommittee on Communications and Technology, each held a hearing entitled “Protecting Internet and Consumers through Congressional Action.”
Topics: Net Neutrality