Alerts

Investor Update November 8, 2019 Source: VA 1. Purpose. This Circular expresses concern about the Department of Veterans Affairs (VA) home loan borrowers affected by Tropical Storm Imelda and describes measures mortgagees may employ to provide relief. Mortgage servicers and borrowers alike should review VA’s guidance on natural disasters to...

Investor Update November 6, 2019 Source: Fannie Mae The Taxpayer First Act was signed into law on July 1, 2019. It includes a provision that persons receiving return information must obtain the express permission of taxpayers prior to disclosing that return information to any other person. “Tax return information”...

Investor Update November 6, 2019 Source: Fannie Mae The Fannie Mae Modification Interest Rate is subject to periodic adjustments based on an evaluation of prevailing market rates. The servicer must use the current Fannie Mae Modification Interest Rate indicated below when evaluating a borrower for a conventional mortgage loan...

Investor Update November 6, 2019 Source: Freddie Mac This notice is being provided as a courtesy to our clients. The Taxpayer First Act, signed into law on July 1, 2019, includes a provision that persons receiving tax return information must obtain the express permission of taxpayers prior to disclosing it to...

Investor Update October 31, 2019 Source: VA IMPORTANT INFORMATION Circular 26-19-24, Change 2 – Servicer Loss Mitigation Letters on Delinquent Loans, was issued on September 25, 2019, and is located at https://www.benefits.va.gov/homeloans/servicers_valeri.asp. Circular 26-19-27 – Special Relief Following Hurricane Dorian, was issued on October 9, 2019, and is located at https://www.benefits.va.gov/homeloans/servicers_valeri.asp. Circular 26-19-25, Change 1 – Transition...

Investor Update October 30, 2019 Source: Fannie Mae We are providing advance notice to servicers that effective December 31, 2020, Fannie Mae will retire the loan workout reporting and related functionality in HomeSaver Solutions Network (HSSN). As a part of Simplifying Servicing™, HSSN functionality is being transitioned to Fannie...

Investor Update October 24, 2019 Source: HUD Additional Resource: FHA Single Family Housing Policy Library (Handbook 4.000.1 Transmittal 10/24/19) Today, the Federal Housing Administration (FHA) published the quarterly update to its Single Family Housing Policy Handbook 4000.1 (SF Handbook). This publication updates and clarifies FHA’s servicing and claims policies, and includes additional updates to...

FEMA Alert Update October 24, 2019 FEMA issued an update to a Presidential Major Disaster Declaration for areas in Illinois affected by severe storms and flooding that took place February 24 to July 3, 2019. The following county is eligible for assistance: Public Assistance: Lee Illinois Severe Storms And Flooding...

FEMA Declared Disaster Texas FEMA Alert Update October 24, 2019 FEMA issued an update to a Presidential Major Disaster Declaration for areas in Texas affected by Tropical Storm Imelda from September 17 to September 23, 2019. The following county is eligible for assistance: Individual Assistance: San Jacinto  https://www.fema.gov/disaster/notices/amendment-no-1-141   FEMA Alert October 4, 2019 FEMA...

Fast-Growing Fires Damage California Homes Updated 11/3/19: The Weather Channel published a report offering the latest updates on California wildfire activity. As Firefighters Gain Edge on California Wildfires, President Trump Slams Gov. Gavin Newsom Additional Resource: California Department of Forestry & Fire Protection (CAL Fire) Active Incidents  Kincade Fire (77,758 acres; 76% containment) –...