Investor Update October 8, 2019 Source: VA 1. Purpose. This Circular expresses concern about the Department of Veterans Affairs (VA) home loan borrowers affected by Hurricane Dorian, and describes measures mortgagees may employ to provide relief. Mortgage servicers and borrowers alike should review VA’s Guidance on Natural Disasters to ensure...
Investor Update October 9, 2019 Source: Fannie Mae At varying times in 2017 and 2018, for both forward mortgage loans and reverse mortgage loans, we accepted responsibility for the payment of property taxes, HOA or condo association fees and assessments, co-op fees and assessments, and ground rents for acquired...
Investor Update October 9, 2019 Source: Freddie Mac In Single-Family Seller/Servicer Guide (Guide) Bulletin 2019-21, we’re extending the implementation of Servicing Gateway and the mandatory adoption of the Servicing Data Corrections tool to December 9, 2019. The Guide Bulletin also announces servicing updates related to the following: – Document custody requirements – Settling charge-offs...
Industry Update October 3, 2019 Source: CFPB WASHINGTON, D.C. – Consumer Financial Protection Bureau Director Kathleen L. Kraninger today announced the appointment of members to the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Council (ARC). These experts advise Bureau leadership...
Legislation Update October 1, 2019 Source: Connecticut General Assembly Additional Resource: Patch (Oct. 1 Means New Laws, Taxes In CT: Here’s The Full List) PA 19-192–sHB 7179 AN ACT CONCERNING CRUMBLING CONCRETE FOUNDATIONS. To (1) require the Commissioner of Housing to establish a grant program to support the development of methods and technologies that...
Industry Update September 25, 2019 Source: CFPB WASHINGTON, D.C. — The Consumer Financial Protection Bureau (Bureau) today announced the following additions to its executive team: Desmond Brown will serve as the Deputy Associate Director for the Consumer Education and Engagement Division. Mr. Brown has more than two decades of experience working with...
Updated 9/25/19: The VA issued Circular 26-19-24 – Change 2. Circular 26-19-24 – Change 2 (full circular) Updated 9/9/19: The VA issued Circular 26-19-24 – Change 1. Circular 26-19-24 – Change 1 (full circular) Investor Update August 19, 2019 Source: VA 1. Purpose. This Circular provides guidance and instructions to mortgage loan servicers concerning servicer collection letters...
Investor Update September 25, 2019 Source: FHFA Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its second quarter 2019 Foreclosure Prevention Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 31,757 foreclosure prevention actions in the second quarter of 2019, bringing the total number of foreclosure...
Updated 9/24/19: CBS News published a report outlining earthquake activity near Puerto Rico as Tropical Storm Karen approaches the island.Puerto Rico, Virgin Islands brace for Tropical Storm Karen Disaster AlertSeptember 23, 2019 Source: CNN NOTE: This has not yet been declared a FEMA Disaster. (CNN) – Tropical Storms Karen, Jerry and...
Updated 9/20/19: AccuWeather published an article detailing rain accumulations across Southeast Texas resulting from Tropical Depression Imelda. Imelda’s devastating rains overwhelm southeastern Texas, cause record-setting flooding Approximate locations reported as hardest hit: Texas-Beaumont (Jefferson County, 77701, 77702, 77703, 77704, 77705, 77706, 77707, 77708, 77709, 77710, 77713, 77720, 77725, 77726)*-Splendora (Montgomery...
