Author: Alert team

Investor Update February 16, 2021 Source: USDA The purpose of this notice is to provide relief to and guidance for Single Family Housing Guaranteed Loan Program (SFHGLP) borrowers impacted by the COVID-19 pandemic. Moratorium on Foreclosures and Evictions: The U.S. Department of Agriculture (USDA) Rural Development is extending its moratorium on...

Disaster Alert February 16, 2021 Source: The Weather Channel Approximate location (according to media outlets) sustaining structural damage: Georgia – Damascus (Early County, 31741, 39841) North Carolina – Grissettown (Brunswick County, 28469) – Ocean Isle Beach (Brunswick County, 28467, 28469) *Concentrated home damage reported in the Ocean Ridge Plantation Community At a Glance Homes were destroyed and...

Investor Update February 16, 2021 Source: FHFA Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released the 2021 Scorecard for Fannie Mae, Freddie Mac (the Enterprises), and Common Securitization Solutions. The 2021 Scorecard aligns the 2019 Strategic Plan with the Enterprises’ tactical priorities and operations, serving as an...

Disaster Alert February 14, 2021 Source: CBS 10 Tampa Bay Approximate location (according to media outlets) sustaining structural damage: Florida – Boca Ciega Point (St. Petersburg, 33708) *Property damage reportedly confined to Boca Ciega Point Boulevard North, near Duhme Road. The National Weather Service found a “narrow swath” of EF-0 tornado damage, with peak...

FEMA Alert February 14, 2021 FEMA issued an Emergency Declaration for areas in Texas affected by a severe winter storm beginning on February 11, 2021 and continuing. FEMA is authorized to identify, mobilize, and provide at its discretion, equipment and resources necessary to alleviate the impacts of...

Investor Update February 10, 2021 Source: Freddie Mac This Guide Bulletin announces: Duty to Serve: • Exhibit 40 updates Escrow Requirements • Greater specificity on Escrow account requirement Community Land Trust Mortgages • Requirement flexibilities for Community Land Trust Mortgages Depository Accounts risk threshold • Updates to depository accounts risk threshold Electronic Payment Deferral Agreement • Updates to the...

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...