Compliance Updates: April 2025 In Review
Nov 8, 2018
October was a significant month for compliance as the new TRID 2.0 standards went into effect. We have written a great deal about that rule on this blog, so this update will focus primarily on state and investor requirement changes we saw in September and October.
However, everyone should take a moment to read senior regulatory compliance specialist Timothy A. Raty’s excellent article, “Rounding Lender Credits on the Loan Estimate,” which provides a detailed explanation and example of rounding lender credits on the Loan Estimate.
As we see more news and guidance updates to TRID 2.0 in the coming months, we will explore those details on our blog.
All of the following updates were originally announced on our compliance blog. Subscribe to learn about all of the industry’s compliance news before anyone else.
State and Investor Compliance News
A few minor modifications and updates were provided by federal agencies and investors over the past two months. The changes are outlined below, and more details can be found on our compliance blog by following the links.
Fannie Mae: FNMA recently updated its model construction loan forms and summary pages to remove renovation loan references. We are currently reviewing how this may impact our own documents, and any changes we make will be announced on our compliance blog. More.
Maine: In addition, the definition of mortgage in the MERS® Mortgage Assignment (Maine) Form 3749 as well as its instructions have been modified. More.
Federal Housing Finance Agency: The FHFA released a new webpage entitled “Mortgage Translations” containing the Language Translation Disclosure. With this new document, speakers of Chinese, Korean, Spanish, Tagalog, and Vietnamese can now receive the same helpful information English speakers do in their native language. More.
Document Changes
The document library saw a variety of of new forms and revisions these past few months. They’ve been summarized below with links to the full descriptions of the updates.
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The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.