Updated 10/19/20: CNN published a report offering the latest on a powerful aftershock stemming from a July earthquake that struck near the Alaskan coast. No major damage has been reported at this time. Small tsunami generated by magnitude 7.5 earthquake that prompted evacuation orders Industry Alert July 22, 2020 Source: The...
Disaster Alert October 19, 2020 Source: USA Today NOTE: This has not yet been declared a FEMA Disaster. Tropical Storm Epsilon formed in the Atlantic Ocean on Monday and should reach hurricane strength by Thursday, the National Hurricane Center said. As of Monday afternoon, Epsilon had maximum sustained winds near 45 mph and was located about 730...
Investor Update October 14, 2020 Source: Fannie Mae Foreclosure bidding / Third party sales The VMS Valuation Order Template has been updated to require the foreclosure sale date be completed when a servicer is requesting the property valuation for bidding instructions. Effective: This policy clarification is effective immediately. This policy change is...
Investor Update October 14, 2020 Source: Fannie Mae With Lender Letter LL-2020-05, Payment Deferral, we announced payment deferral, a new retention workout option jointly developed with Freddie Mac at the direction of the Federal Housing Finance Agency (FHFA). That workout option was created to assist borrowers who became delinquent due to...
Investor Update October 14, 2020 Source: Fannie Mae We are actively monitoring reports about the spread of COVID-19 (coronavirus) in the United States and understand that there are concerns about its potential impact on borrowers. At the direction of the Federal Housing Finance Agency (FHFA) and in alignment with...
Investor Update October 14, 2020 Source: Freddie Mac This Guide Bulletin announces: Electronic Payment Deferral Agreement ▪ Requirements for eSignatures on Electronic Payment Deferral Agreements Transfers of Ownership and assumptions ▪ Expanded requirements for Transfers of Ownership Escrow requirements ▪ New requirement for Servicers to have a written policy in place for waiving an Escrow account – February 1, 2021 Eligible...
FEMA Alert Update October 14, 2020 FEMA issued a Presidential Major Disaster Declaration for areas in North Carolina affected by Hurricane Isaias from July 31 to October 4, 2020. The following counties have been approved for assistance: Public Assistance Beaufort Bertie Brunswick Carteret Chowan Columbus Craven Hertford Hyde ...
Updated 10/12/20: The Weather Channel published reports offering a summary of Hurricane Delta’s impact on the U.S. Gulf Coast and its current forecast. Georgia Train Derailment Forces Evacuations as Delta’s Remnants Bring Flooding, Tornadoes Across South Remnants of Delta to Spread Rainfall Through the East on Monday Approximate locations possibly sustaining...
Investor Update October 8, 2020 Source: Freddie Mac MCLEAN, Va., Oct. 08, 2020 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today reminded mortgage servicers of its disaster relief policies for homeowners as Hurricane Delta approaches Louisiana and other northern Gulf Coast states. Freddie Mac’s disaster relief options are available to homeowners...
Investor Update October 8, 2020 Source: Fannie Mae WASHINGTON, Oct. 8, 2020 /PRNewswire/ — Fannie Mae (OTCQB: FNMA) is reminding those impacted by Hurricane Delta of available mortgage assistance and disaster relief options. Under Fannie Mae’s guidelines for single-family mortgages impacted by a natural disaster: • Homeowners may request mortgage assistance by contacting...
