Investor Update January 22, 2020 Source: HUD Today, the Federal Housing Administration (FHA) is pleased to welcome Joseph M. (Joe) Gormley as the Deputy Assistant Secretary for the Office of Single Family Housing, effective January 21. With a broad background in financial services and housing policy, Mr. Gormley has held...
FEMA Alert January 17, 2020 FEMA issued a Presidential Major Disaster Declaration for areas in Vermont affected by severe storms and flooding that took place October 1 to November 1, 2019. The following municipalities are eligible for assistance: Public Assistance Addison Chittenden Essex Franklin Lamoille Orange Orleans Washington Vermont...
Investor Update January 17, 2020 Source: HUD NOTE: FHA INFO #20-05 is not currently available on HUD.GOV. the above source link will be updated once it has been added. Today, the Federal Housing Administration (FHA) is issuing this reminder to mortgagees about its guidance for originating and/or servicing FHA-insured forward mortgages in...
FEMA Declared Disaster Puerto Rico FEMA Alert Update January 22, 2020 FEMA issued an update to a Presidential Major Disaster Declaration for areas in Puerto Rico affected by earthquakes beginning December 28, 2019 and continuing. The following municipalities are eligible for assistance: Individual Assistance Adjuntas Cabo Rojo Corozal Jayuya Lajas ...
Disaster Alert January 12, 2020 Source: The Weather Channel Additional Resources: Arkansas Governor Emergency Proclamation (1/11/20) Mississippi Governor Emergency Proclamation (1/10/20) Approximate locations sustaining structural damage Alabama – Joppa (Cullman, Marshall counties, 35087) – Carrollton (Pickens County, 35447) *Concentrated damage in Settlement Community Arkansas – Midway (Baxter County, 72651) – Prairie View (Logan County, 72863) – Scranton (Logan County, 72863) Louisiana – Benton (Bossier Parish,...
Updated 1/7/20: The Weather Channel issued a report detailing continued earthquake activity that has has damaged homes in portions of southern Puerto Rico. The Weather Channel (Deadly Magnitude 6.4 Earthquake in Puerto Rico Is Latest in Swarm of Temblors Shaking the Island) Additional approximate areas sustaining home damage: Puerto Rico Ponce...
Investor Update December 26, 2019 Source: USDA The Rural Housing Service (RHS or Agency) published a proposed rule on August 23, 2018, proposing to implement changes to the Single Family Housing Guaranteed loan program (SFHGLP) regulation to streamline the loss claim process for lenders who have acquired title to...
Legislation Update December 23, 2019 Source: The New York State Senate (full bill text) Additional Resource: Kings County Politics (Cuomo Signs Bill Strengthening Court Protections For People Facing Foreclosures) A5619 (ACTIVE) – SUMMARY Provides that the defense, in a mortgage foreclosure action, of the plaintiff’s lack of standing is not waived because of...
Updated 12/20/19: Freddie Mac issued a release highlighting information made available by the Internal Revenue Service (IRS) that helps clarify the application of Section 2202 of the Taxpayer First Act. New IRS Information on Taxpayer First Act Investor Update November 6, 2019 Source: Freddie Mac This notice is being provided as a...
Legislation Update December 18, 2019 Source: The New York State Senate Sponsor Memo: SPONSOR: SKOUFIS TITLE OF BILL: An act to amend the real property actions and proceedings law, in relation to authorizing municipalities to compel mortgagees either to complete a mortgage foreclosure proceeding pursuant to article 13 of the real...
