Author: Alert team

Industry Update April 1, 2021 Source: CFPB WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today warned mortgage servicers to take all necessary steps now to prevent a wave of avoidable foreclosures this fall. Millions of homeowners currently in forbearance will need help from their servicers when the pandemic-related...

FEMA Alert Update April 9, 2021 FEMA issued an update to a Presidential Major Disaster Declaration for areas in Kentucky affected by severe winter storms, landslides and mudslides that took place February 8-19, 2021. The following county has been approved for assistance: Public Assistance Taylor Kentucky Severe Winter Storms,...

Industry Update March 31, 2021 Source: CFPB WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today announced it is rescinding seven policy statements issued last year that provided temporary flexibilities to financial institutions in consumer financial markets including mortgages, credit reporting, credit cards and prepaid cards. The seven rescissions,...

Updated 3/31/21: Kelo published an article providing the latest on wildfire activity in South Dakota that has caused structural damage. Schroeder Fire Grows to 2,100 Acres; Evacuation Orders, Road Closures to Remain in Place Disaster Alert March 30, 2021 Source: The Weather Channel Approximate areas reportedly sustaining structural damage: South Dakota – Rapid City (Pennington County,...

Industry Update March 29, 2021 Source: CNN Additional Resource:CFPB (CFPB Acting Director Uejio and FTC Acting Chairwoman Slaughter Issue Joint Statement on Preventing Illegal Actions) The federal ban on evictions has been extended yet again, bringing relief to tens of millions of renters struggling to catch up. The Centers for Disease...

Disaster Alert March 28, 2021 Source: Tennessean Additional Resources: The Weather Channel NBC 5 (Vermont) Approximate areas reportedly sustaining structural damage: Arkansas Tornadoes/High Winds – Carson Township (Mississippi County, 72370) *Carson Lake – DeWitt (Arkansas County, 72042) – Marie (Mississippi County, 72395) Kentucky Flooding – Hazard (Perry County, 41701, 41702) – Middlesboro (Bell County, 40965) Louisiana Tornado/High Winds – Stonewall (DeSoto Parish, 71078) *North DeSoto Estates *Ann Francis...

FEMA Alert March 28, 2021 FEMA issued a Presidential Major Disaster Declaration for the Poarch Band of Creek Indians as a result of the Coronavirus Disease 2019 (COVID-19) pandemic beginning on January 20, 2020 and continuing. The following approximate tribal area is eligible for assistance: Public Assistance Alabama Atmore (Escambia County,...

  Investor Update March 26, 2021 Source: VA 1. Purpose. The Department of Veterans Affairs (VA) remains firmly committed to assisting VA-guaranteed loan borrowers who experience financial hardship due to the COVID-19 pandemic. Through this Circular, VA is providing an updated summary of the home retention options and alternatives to foreclosure...

Updated 3/26/21: The Weather Channel issued a report providing the latest on severe thunderstorm activity that caused major residential home damage in Alabama and other locations in the southern U.S. Severe Weather Outbreak Spawns Damaging Tornadoes in Alabama Approximate areas reportedly sustaining structural damage: Alabama Tornadoes/High Winds – Birmingham (Jefferson County) *Eagle Point subdivision,...

Investor Update March 24, 2021 Source: Fannie Mae With the introduction of Property 360™ for Expense Reimbursement, Fannie Mae will eventually discontinue use of the third-party site, LoanSphere 571 Invoicing, for claims processing. Fannie Mae’s Property 360 will provide greater flexibility and agility in user experience, opportunities for further...