Author: Alert team

Updated 2/25/21: Fannie Mae updated COVID-19 payment deferral eligibility criteria to: ▪ Permit the mortgage loan to be less than or equal to 18 months delinquent as of the date of evaluation, and ▪ Eliminate the limit of one COVID-19 payment deferral and instead limit the COVID-19 payment deferral to...

Updated 2/25/21: Fannie Mae updated LL-2021-02 to extend the existing suspension of certain foreclosure-related activities through June 30, 2021. Lender Letter LL-2021-02 Updated 2/10/21: Fannie Mae updated LL-2021-02 to extend the existing suspension of certain foreclosure-related activities through March 31, 2021. Lender Letter LL-2021-02 Updated 1/20/21: Fannie Mae updated LL-2020-02 to extend the...

Investor Update February 9, 2021 Source: FHFA Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) are extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions until March 31, 2021. The foreclosure moratorium applies to Enterprise-backed, single-family...

Land Bank Update February 5, 2021 Source: The Star Press Additional Resource: LegiScan (IN SB0236 Full Text/Info) The Muncie Land Bank has successfully grown into a community asset for addressing the issue of property abandonment and vacancy. New pending legislation in the State Senate (Senate Bill 236) proposed by State Sen....

FEMA Alert Update March 19, 2021 FEMA issued an update to a Presidential Major Disaster Declaration for areas in Washington affected by wildfires and straight-line winds that took place September 1-19, 2020. The following county has been approved for assistance: Public Assistance Ferry Washington Wildfires and Straight-Line Winds (DR-4584...

FEMA Alert February 4, 2021 FEMA issued a Presidential Major Disaster Declaration for areas in Maryland affected by Tropical Storm Isaias from August 3-4, 2020. The following counties have been approved for assistance: Public Assistance Calvert Dorchester St. Mary's Maryland Tropical Storm Isaias (DR-4583) Additional Resources FEMA’s web site FEMA’s Disaster Declaration...

Investor Update February 3, 2021 Source: HUD WASHINGTON – Today, the Federal Housing Administration (FHA) issued a series of waivers of provisions in its Single Family Housing Policy Handbook 4000.1 that would normally require in-person contact between mortgage servicers and borrowers, including seniors with FHA-insured Home Equity Conversion (HECM) reverse mortgages. These waivers...

Disaster Alert January 28, 2021 Source: The Weather Channel Additional Resource: Safeguard Properties California Mudslide Reporting Approximate location (according to media outlets) sustaining structural damage: California – Carmel-By-The-Sea (Monterey County, 93921, 93923) At a Glance Evacuation warnings and orders are still in place in some areas. Water backed up in the Carmel River Lagoon after...

Disaster Alert January 27, 2021 Source: The Weather Channel Approximate location (according to media outlets) sustaining structural damage: California – Salinas (Monterey County, 93901, 93902, 93905, 93906, 93907, 93908, 93912, 93915, 93962) At a Glance Hundreds of thousands of homes and businesses were without power. A wind gust of 121 mph was recorded. About...