Author: Alert team

Investor Update December 3, 2020 Source: FHFA Thank you, Mr. Chairman. I want to thank the staff of each FSOC member agency for the hard work that went into producing this report. The FSOC annual report continues to be a crucial component of FSOC’s monitoring of the financial system....

Investor Update December 2, 2020 Source: HUD Additional Resource: Mortgage Letter 2020-41: 2021 Nationwide Forward Mortgage Limits Today, the Federal Housing Administration (FHA) published Mortgagee Letter 2020-42, 2021 Nationwide Home Equity Conversion Mortgage (HECM) Limits, which provides the Calendar Year (CY) 2021 maximum claim amount for FHA-insured traditional HECM, HECM for purchase, and HECM-to-HECM...

Investor Update December 2, 2020 Source: FHFA Washington, D.C. –Today, to help borrowers at risk of losing their home due to the coronavirus national emergency, 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...

Updated 2/4/21: FEMA issued a Presidential Major Disaster Declaration for areas in Maryland affected by Tropical Storm Isaias from August 3-4, 2020. Maryland Tropical Storm Isaias (DR-4583) Updated 12/11/20: FEMA issued a Presidential Major Disaster Declaration for areas in New Jersey affected by Tropical Storm Isaias on August 4,...

Disaster Alert December 2, 2020 Source: USA Today Approximate locations reportedly sustaining structural damage: Alaska *Mudslides/Flooding – Haines (Haines Borough, 99827) NOTE: This has not yet been declared a FEMA Disaster. Evacuations and search and rescue efforts were underway Wednesday after a record-breaking rainstorm swept across Southeast Alaska, triggering mudslides and widespread flooding. Multiple precipitation records were...

FEMA Alert Update December 2, 2020 FEMA issued an update to a Presidential Major Disaster Declaration for areas in Delaware affected by Tropical Storm Isaias from August 4-7, 2020. The following county has been approved for assistance: Public Assistance New Castle County   Delaware Tropical Storm Isaias (DR-4566 Amendment 1) ...

Disaster Alert November 30, 2020 Source: The Weather Channel Additional Resources: MASS LIVE (See the damages from Monday’s storm in Massachusetts) Patch (Possible Tornado Causes Damage In Montgomeryville Area) The Weather Channel (Winter Storm Knocks Out Power to Tens of Thousands From Ohio to Maine; Schools Closed) Approximate locations possibly sustaining structural damage/flooding: Maine *Wind Damage – Lewiston (Androscoggin County,...

Investor Update November 27, 2020 Source: HUD (Corrected Version) Today, the Federal Housing Administration (FHA) published  Mortgagee Letter (ML) 2020-39, Extension of Temporary Guidance for Endorsement of Mortgages under Forbearance for Borrowers Affected by the Presidentially-Declared COVID-19 National Emergency consistent with the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This ML further...

Updated 12/14/20: MHA issued a reminder that the standard hours of operation for the HAMP Reporting System will be adjusted for end of year 2020. HAMP Update: Reminder – End of Year 2020 HAMP Reporting System and HAMP Solution Center Availability Investor Update November 23, 2020 Source: MHA Please be aware that...

Investor Update November 19, 2020  Source: HUD Today, the Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2020-38, FHA Catalyst: Claims Module – Expanded Functionality for Conveyance, Single Family Loan Sales, Claims Without Conveyance of Title, and Pre-Foreclosure Sale Claims – and Phased Removal of Social Security Number Collection for Claim Submissions. This...