Author: Alert team

Legislation Update July 22, 2020 Source: The New York State Senate (full bill text) Sponsor Memo BILL NUMBER: S4408 SPONSOR: GOUNARDES TITLE OF BILL: An act to amend the real property law, in relation to the regulation of default and foreclosure of reverse mortgages issued under the federal home equity conversion mortgage for seniors...

Updated 8/6/20: FEMA issued an Emergency Declaration for areas in Connecticut affected by Tropical Storm Isaias on August 4, 2020. Connecticut Tropical Storm Isaias (EM-3535) Included Tribal Areas: Mashantucket Pequot Tribe (New London County, 06338) Mohegan Tribe of Indians (New London County, 06382) Updated 8/5/20: Patch.com published a report outlining major creek/river...

Investor Update July 28, 2020  Source: HUD Wade’s housing expertise includes her previous role as Acting Federal Housing Commissioner and Assistant Secretary for Housing WASHINGTON – U.S. Department of Housing and Urban Development Secretary Ben Carson today applauded the confirmation of Dana Wade to serve as the Federal Housing Administration’s...

Updated 7/28/20: As major wildfire activity continues across the Western U.S., please see below for an updated approximate listing of events that have been responsible for structural damage (according to media outlets) since the outbreak began in June. California Coyote Fire (1,508 acres; 100% containment) July 15-18 West of Panoche –...

Updated 7/27/20: The Weather Channel issued a report offering the latest on Tropical Depression Hanna, which has caused flooding and damage in South Texas. Tropical Depression Hanna Unleashes Flooding, Power Outages Across South Texas, Northeastern Mexico Updated 7/26/20: FEMA issued an Emergency Declaration for areas in Texas affected by...

Updated 7/27/20: The Weather Channel published a report offering the latest updates for Hurricane Douglas, which is pulling away from Hawaii and expected to return to open water. Hurricane Douglas Brushes Hawaii with Rain and Wind Updated 7/26/20: Hawaii News Now published an article detailing the latest warnings and watches issued...

Investor Update July 15, 2020 Source: Fannie Mae The Servicing Guide has been updated to include changes to the following: ▪ Loss draft updates*: simplifies our loss draft disbursement policies while managing risk. ▪ Revisions to post-disaster credit reporting requirements*: removes instructions to suspend credit reporting for borrowers impacted by a disaster. ▪ Payment reminder...

Investor Update July 15, 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...