What Happened? On April 23, 2025, the U.S. Department of Veterans Affairs (VA) issued Circular 26-25-2 (the Circular), which announces that the VA’s Veterans Affairs Servicing Purchase (VASP) program is winding down. As of...more
4/28/2025
/ Department of Veterans Affairs ,
Federal Funding ,
Filing Deadlines ,
Government Agencies ,
Lenders ,
Loss Mitigation ,
Mortgage Servicers ,
Mortgages ,
Regulatory Oversight ,
Regulatory Requirements ,
VA Loans
A&B Abstract: According to a recent edition of Inside Mortgage Finance, correspondent lending is the only lending channel that posted gains in Q3 2023. While it is always nice to see gains, it should also serve as a reminder...more
A&B Abstract: On May 12, 2022, the Maryland Office of the Commissioner of Financial Regulation (the “OCFR”) issued an Industry Advisory (the “Advisory”) “put[ting] [the] industry on notice” of the recent decision issued by...more
This program will discuss the key components of a fair servicing compliance program, and practical considerations for implementation. In particular, the discussion will focus on the fair and consistent treatment of borrowers...more
A&B Abstract:
Maryland’s inspection fee statute has been interpreted by the Maryland Court of Appeals and the Maryland Office of the Commissioner of Financial Regulation (“OCFR”) to apply both at the time of origination...more
A&B Abstract: In an effort to incent large depository institutions to return to FHA lending, the U.S. Department of Housing and Urban Development (“HUD”) and the U.S. Department of Justice (“DOJ”) entered into a Memorandum...more