Author: Alert team

Investor Update January 20, 2021 Source: Fannie Mae The Servicing Guide has been updated to include changes to the following: ▪ Automatic reclassification time frame for delinquent MBS mortgage loans*: incorporates Lender Letter LL-2020-13, which extended automatic reclassification triggers from four to 24 months for most delinquent MBS mortgage loans. ▪ Update to delinquency...

Investor Update January 20, 2021 Source: USDA The purpose of this announcement is to inform lenders of an extension to the foreclosure and eviction moratoriums, and the forbearance deadline for all USDA Single Family Housing Guaranteed Loans Program (SFHGLP). Foreclosure and Eviction Moratorium Extension: Effective immediately, borrowers with USDA guaranteed loans are subject...

Investor Update January 19, 2020 Source: FHFA Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will extend the moratoriums on single-family foreclosures and real estate owned (REO) evictions until February 28, 2021.  The foreclosure moratorium applies to Enterprise-backed, single-family...

FEMA Alert January 15, 2021 FEMA issued a Presidential Major Disaster Declaration for areas in Colorado affected by wildfires that took place September 6 to November 5, 2020. The following counties have been approved for assistance: Public Assistance Grand Larimer Colorado Wildfires (DR-4581)   Additional Resources FEMA’s web site FEMA’s Disaster Declaration Process HUD...

FEMA Alert January 12, 2021 FEMA issued a Presidential Major Disaster Declaration for areas in Connecticut affected by Tropical Storm Isaias on August 4, 2020. The following counties have been approved for assistance: Public Assistance Fairfield Hartford Litchfield Middlesex New Haven New London Tolland Windham   Please be advised of...

FEMA Alert January 11, 2021 FEMA issued an Emergency Declaration for the District of Columbia during the 59th Presidential Inauguration, taking place January 11-24, 2021. FEMA is authorized to provide emergency protective measures (Category B), limited to direct federal assistance, under the Public Assistance program at 100%...

Legislation Update January 7, 2021 Source: New Jersey Legislature (A2877 full bill text) Additional Resource: NJ 101.5 (NJ Looks to Crack Down on Eyesores, Even Ones Owned By Banks) Statement The Assembly Community Development and Affairs Committee reports favorably and with committee amendments Assembly Bill No. 2877. As amended, this bill would require the...

Investor Update January 6, 2021 Source: Fannie Mae A summary of Selling Guide, Servicing Guide, and other policy communications What you need to know This job aid summarizes recent Selling Guide, Servicing Guide, and related policy updates, clarifications, or other supporting communications. It provides links to related resources as applicable. We made many of these changes and...

Investor Update January 5, 2021 Source: FHFA Additional Resources: Fannie Mae (Statement on Fannie Mae’s 2021 Duty to Serve Plan from Jeffery R. Hayward, Executive Vice President and Chief Administrative Officer, Fannie Mae) “As our country continues to endure the health and economic hardships resulting from the COVID-19 pandemic, Fannie Mae’s...