Alerts

Investor Update March 13, 2020  Source: HUD Additional Resources: HUD FHA INFO #20-18 (Loss Mitigation Home Retention Options for Assisting Borrowers) HUD FHA INFO #20-16 (Coronavirus Information Available) In this Announcement: • Continuation of FHA Single Family Business Operations Related to COVID-19 • Temporary Partial Waiver of Servicing Requirements Regarding Face-to-Face Contact with Borrowers See below for...

Disaster Alert March 9, 2020 Source: NBC News Additional Resource: Newsweek (California Hit by 7 Earthquakes at the Junction of the San Andreas Fault and Cascadia Subduction Zone) CNN (Magnitude 5.8 Earthquake Strikes Off Northern California Coast) NOTE: This has not yet been declared a FEMA Major Disaster. A 5.8 magnitude earthquake shook Northern California...

Disaster Alert March 3, 2020 Source: The Weather Channel Additional Resources: WSMV NBC News 4: (Tornado moves across Nashville and Middle TN) Tennessee Emergency Management Agency (TEMA): Current Status: State of Emergency Approximate locations sustaining structural damage: Tennessee – Cookeville (Putnam County, 38501, 38502, 38503, 38505, 38506) – Donelson (Davidson County, 37214) – Germantown (Shelby County, 38125, 38138,...

Investor Update March 3, 2020  Source: HUD Earlier this week, HUD Secretary Dr. Ben Carson was added to the White House Coronavirus Task Force. All federal agencies are working aggressively on a multi-layered, cross-agency public health response to this evolving situation. While the risk of infections for Americans remains low,...

Investor Update March 2, 2020 Source: OCC Summary The Office of the Comptroller of the Currency (OCC) issued today the revised “Protecting Tenants at Foreclosure Act” booklet of the Comptroller’s Handbook. This booklet provides information and procedures for examiners in connection with the foreclosure activities and related consumer protections covered under...

Disaster Alert March 1, 2020 Source: FOX News Approximate locations impacted by home ice accumulations: New York – Hamburg (Erie County, 14075) NOTE: This has not yet been declared a FEMA Major Disaster. This would be a palace fit for Elsa. A powerful storm system that brought blizzard conditions to upstate New York last week created a winter wonderland on the shores of Lake...

Industry Update February 26, 2020 Source: Auction.com Most Default Servicers Expect Foreclosures to Increase in 2020 Despite no Economic Recession 89 Percent Expect Increase in Foreclosure Inflow from Government-Insured Loans Majority Expect Increased Foreclosure Inflow in Five of Seven U.S. Regions 68 Percent Plan to Increase Loss Mitigation Actions ...

Industry Update February 25, 2020 Source: Al.com Greene County, deep in Alabama’s Black Belt region, is the smallest county in the state, and one of the poorest. It’s one of only two counties in Alabama with fewer than 10,000 people, according to the U.S. Census Bureau. And it’s shrinking –...

Strong Winter Storm Moving Across Country Updated 2/25/20: ABC News issued a report offering the latest on strong winter storm that is expected to bring substantial snow accumulations to multiple states. Winter Storm Moving East with Heavy Snow Disaster Alert February 24, 2020 Source: ABC News Additional Resource: KIRO 7 (Strong winds bring down...

Investor Update February 24, 2020  Source: HUD Today, the Federal Housing Administration (FHA) announced that it has posted on its Single Family Housing Drafting Table, proposed enhancements to its Claims Without Conveyance of Title (CWCOT) program. All FHA-approved mortgagees, servicers, and other interested stakeholders are invited to review the posted...