Author: Alert team

Industry Update November 2, 2021 Source:  RisMedia The total number of loans now in forbearance decreased by 6 basis points to 2.15% of servicers’ portfolio volume as of Oct. 24, 2021.  According to the Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey, 1.1 million homeowners are in...

Investor Update November 1, 2021 Source: U.S. Department of Housing and Urban Development WASHINGTON – The U.S. Department of Housing and Urban Development today announced the allocation of more than $2 billion ($2,040,617,000) in CDBG-Disaster Recovery and CDBG-Mitigation funds appropriated in the continuing resolution, the Extending Government Funding and...

FEMA Alert October 30, 2021 FEMA issued a Major Disaster Declaration for areas of Connecticut affected by remnants of Hurricane Idea that occurred September 1-2, 2021. The following counties have been approved for assistance: Individual Assistance Fairfield New London Mashantucket Pequot Indian Reservation Connecticut Remnants of Hurricane Ida (DR-4629) Map...

Industry Update October 27, 2021 Source:  American Banker The Federal Housing Finance Agency is proposing public disclosure requirements for Fannie Mae and Freddie Mac that would closely align with international standards for large banks. Under the proposed requirements, the government-sponsored enterprises would have to disclose risk management, corporate governance and...

Industry Update October 27, 2021 Source:  jdsupra.com FHA recently posted the draft Home Equity Conversion Mortgage (HECM) Origination through Servicing sections of its Single Family Housing Policy Handbook 4000.1 (Handbook 4000.1) for stakeholder review and feedback. The draft sections are available online for industry feedback through Monday, November 15,...

FEMA Alert October 26, 2021 FEMA issued a Major Disaster Declaration for areas of Virginia affected by flooding, landslides, and mudslides that occurred August 30-31, 2021. The following counties have been approved for assistance: Public Assistance Buchanan Virginia Flooding, Landslides, and Mudslides (DR-4628)   Additional Resources FEMA’s web site FEMA’s Disaster Declaration Process HUD...

Industry Update October 25, 2021 Source: Calculated Risk Finance & Economics Freddie Mac reported that the Single-Family serious delinquency rate in September was 1.46%, down from 1.62% in August. Freddie’s rate is down year-over-year from 3.04% in September 2020. For full report, please click the source link above. ...

FEMA Alert October 24, 2021 FEMA issued a Major Disaster Declaration for areas of Delaware affected by remnants of Hurricane Ida from Sept. 1 – 7, 2021. The following counties have been approved for assistance: Public Assistance New Castle   https://www.fema.gov/disaster/4627 dditional Resources FEMA’s web site FEMA’s Disaster Declaration Process HUD Moratorium on Foreclosure VA’s...

FEMA Alert October 22, 2021 FEMA issued a Major Disaster Declaration for areas of Mississippi to supplement state, tribal and local recovery efforts affected by Hurricane Ida from Aug. 28-Sept. 1, 2021. The following counties have been approved for assistance: Individual Assistance Amite Hancock Harrison Jackson Pearl River ...

Industry Update October 22, 2021 Source:  Mortgage Daily News The national delinquency rate has fallen below 4.0 percent for the first time since COVID-19 started messing up the world. Black Knight, in its “first look” at September’s mortgage performance data, says the rate in September, 3.91 percent, represents a...