Author: Alert team

Investor Update July 23, 2021 Source: HUD Today, the Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2021-18, COVID-19 Recovery Loss Mitigation Options. This ML reinforces FHA’s commitment to helping homeowners who have been financially impacted by the COVID-19 pandemic to remain in their homes with new, streamlined loss mitigation options....

Investor Update July 23, 2021 Source: VA 1. Purpose. This Circular provides VA’s waterfall of home retention options for helping borrowers affected financially by the COVID-19 pandemic. This Circular also announces the COVID-19 Refund Modification, a type of loan modification specific to those borrowers needing payment reductions when exiting COVID-19...

Updated 7/21/21: AccuWeather published a report offering the latest on the Bootleg Fire, which continues to aggressively expand across southern Oregon. How the Bootleg Fire is Generating Its Own Weather Approximate impacted areas: Oregon – Beatty (Klamath County, 97621) *Concentrated home damage reported in Sycan Estates area – Blaisdell (Lake County, 97630) – Bly...

Investor Update July 20, 2021 Source: HUD Additional Resource: Online/PDF versions of Handbook 4000.1 Today, the Federal Housing Administration (FHA) published a new update to the Single Family Housing Policy Handbook 4000.1 (Handbook 4000.1). The updates include enhancements and revisions to existing guidance as well as various other technical edits. In most...

FEMA Alert July 15, 2021 FEMA issued a Presidential Major Disaster Declaration for areas in Michigan affected by severe storms, flooding and tornadoes that took place June 25-26, 2021. The following counties have been approved for assistance: Individual Assistance Washtenaw Wayne Michigan Severe Storms, Flooding and Tornadoes (DR-4607)   Additional Resources FEMA’s...

Investor Update July 14, 2021 Source: Fannie Mae The Servicing Guide has been updated to include changes to the following: ▪ Mortgage assistance fund program providers*: updates requirements to apply more broadly to handling funds provided on behalf of a borrower from a state or local government mortgage assistance fund program.] ▪ Mortgage insurance claims...

Disaster Alert July 13, 2021 Source: The New York Times Approximate impacted areas: Oregon – Beatty (Klamath County, 97621) *Concentrated home damage reported in Sycan Estates area – Bly (Klamath County, 97622) – Chester Spring (Klamath County, 97621) NOTE: This has NOT yet been declared a FEMA Major Disaster. As the West continues to bake under torrid...

Investor Update July 13, 2021 Source: FHFA April 2021 Highlights — Foreclosure Prevention   The Enterprises’ Foreclosure Prevention Actions: • The Enterprises completed 87,205 foreclosure prevention actions in April, bringing the total to 5,900,104 since the start of the conservatorships in September 2008. • Approximately 42 percent of these actions have been permanent...

Investor Update July 7, 2021 Source: Fannie Mae For those mortgage loans with pending foreclosure actions as of August 1, 2021, affected by the foreclosure moratoriums related to COVID-19 in the jurisdictions listed below, Fannie Mae authorizes and will reimburse servicers a one-time excess legal fee of $275 for...

Investor Update July 7, 2021 Source: Fannie Mae Based on feedback from customers, we’ve enhanced the servicer toolkit to include resources that support liquidation discussions with borrowers. Review the script and access the resources to help borrowers avoid foreclosure and share homeowner-facing materials to support borrowers when the foreclosure...