Compliance News: Understanding California’s 2026 ADMT Rules and How They Apply to Docutech
Aug 6, 2024
After industry feedback, on August 6, 2024, Fannie Mae, Freddie Mac, and FHA released announcements regarding the extension of the implementation of ROV policy requirements to October 31, 2024. The original timeline was set for August 29, 2024 for Fannie Mae and Freddie Mac, and September 2, 2024 for FHA.
Docutech previously announced the creation a new generic document entitled “Notice of Right to Request a Reconsideration of Value (ROV)” (Cx27674). This is a customizable document, but Docutech has included generic default language in compliance with Fannie Mae Single Family Selling Guide B4-1.3-12, Freddie Mac Single Family Seller Servicer Guide 5604.4, and FHA Single Family Housing Policy Handbook 4000.1 II.A.3.a.ix.A & II.B.4.a.ii.H.1.
If you are interested in customizing Cx27674, please submit your customizations as soon as possible so there is ample time for us to accommodate these customizations before October 31, 2024.
These changes are available for testing on Stage & Stage 2 servers and will take effect on October 31, 2024. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
LEG-2062
COM-4888
DR-151396
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.
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.