Author: Alert team

VA: Circular 26-19-24: Servicer Loss Mitigation Letters on Delinquent Loans Investor Update August 19, 2019 Source: VA 1. Purpose. This Circular provides guidance and instructions to mortgage loan servicers concerning servicer collection letters on Department of Veterans Affairs’ (VA) guaranteed home loans to delinquent borrowers in accordance with Title 38,...

Freddie Mac: FHLMC Guide Bulletin 2019-18: Servicing Updates Investor Update August 14, 2019 Source: Freddie Mac Single-Family Seller/Servicer Guide (Guide) Bulletin 2019-18 announces servicing updates that will provide you with greater flexibility and opportunities for operational efficiency. • You can now use eModification agreements to modify paper notes and eMortgages. • Freddie Mac...

Fannie Mae: Lender Letter LL-2019-07: Advance Notice of Principal and Interest Drafts for Scheduled/Scheduled and Scheduled/Actual Portfolio Mortgage Loans Investor Update August 14, 2019 Source: Fannie Mae This Lender Letter provides advance notification to servicers of the following changes that will simplify and streamline the cash remittance and reconciliation process: ▪ Fannie...

FEMA Declared Disaster Oklahoma FEMA Alert Update August 13, 2019 FEMA issued an update to a Presidential Major Disaster Declaration for areas in Oklahoma affected by severe storms, straight-line winds, tornadoes and flooding that took place May 7 to June 9, 2019. The following counties are eligible for...

FEMA Declared Disaster Nebraska FEMA Alert Update August 13, 2019 FEMA issued an update to a Presidential Major Disaster Declaration for areas in Nebraska affected by a severe winter storm, straight-line winds and flooding that took place March 9 to July 14, 2019. The following county is eligible for...

Source: Wall Street Journal By Harriet Torry Updated Aug. 13, 2019 3:21 pm ET U.S. Mortgage Debt Hits Record, Eclipsing 2008 Peak One factor could be homeowners tapping into home equity for cash when they refinance Americans’ mortgage debt dropped by about 15% from the 2008 peak to the trough in...

MBA: Mortgage Delinquencies Rise in Second Quarter Source: MBA NewsLink August 14, 2019 Mortgage delinquencies rose in the second quarter as the economy showed signs of slowing, putting more homeowners at risk, the Mortgage Bankers Association reported yesterday. The MBA 2nd Quarter Mortgage Delinquency Survey reported the delinquency rate...

HUD: FHA INFO #19-40: Training Opportunities Investor Update August 9, 2019  Source: HUD Webinar Title: NEW FHA Quality Assurance Update Date/Time: Wednesday, August 21, 2019, 2:00 PM to 3:00 PM (Eastern) Event Location: Online Webinar – No Fee Jurisdictional Host: Office of Lender Activities and Program Compliance Registration Link: https://www.webcaster4.com/Webcast/Page/753/31351 Description: This free, online webinar will...

VA: Circular 26-19-22: Clarification and Updates to Policy Guidance for VA Interest Rate Reduction Refinance Loans (IRRRLs) Investor Update August 8, 2019 Source: VA 1. Purpose. The purpose of this Circular is to consolidate and clarify guidance regarding how section 309 of Public Law 115-174, the Economic Growth, Regulatory Relief, and Consumer...

Fannie Mae: MI Termination in SMDU Starting Soon Investor Update August 7, 2019 Source: Fannie Mae Frequently Asked Questions Updated policy requirements for the borrower-initiated termination of conventional mortgage insurance (MI) simplifies the process of evaluating borrower-initiated requests for MI termination. This streamlined process will deliver a better customer experience for...