Author: Alert team

Disaster Alert October 19, 2020 Source: USA Today NOTE: This has not yet been declared a FEMA Disaster. Tropical Storm Epsilon formed in the Atlantic Ocean on Monday and should reach hurricane strength by Thursday, the National Hurricane Center said. As of Monday afternoon, Epsilon had maximum sustained winds near 45 mph and was located about 730...

Investor Update October 14, 2020 Source: Fannie Mae Foreclosure bidding / Third party sales The VMS Valuation Order Template has been updated to require the foreclosure sale date be completed when a servicer is requesting the property valuation for bidding instructions. Effective: This policy clarification is effective immediately. This policy change is...

Investor Update October 14, 2020 Source: Fannie Mae With Lender Letter LL-2020-05, Payment Deferral, we announced payment deferral, a new retention workout option jointly developed with Freddie Mac at the direction of the Federal Housing Finance Agency (FHFA). That workout option was created to assist borrowers who became delinquent due to...

Investor Update October 14, 2020 Source: Freddie Mac This Guide Bulletin announces: Electronic Payment Deferral Agreement ▪ Requirements for eSignatures on Electronic Payment Deferral Agreements Transfers of Ownership and assumptions ▪ Expanded requirements for Transfers of Ownership Escrow requirements ▪ New requirement for Servicers to have a written policy in place for waiving an Escrow account – February 1, 2021 Eligible...

FEMA Alert Update January 13, 2021 FEMA issued an update to a Presidential Major Disaster Declaration for areas in North Carolina affected by Hurricane Isaias from July 31 to October 4, 2020. The following additional county has been approved for assistance: Public Assistance Lenoir North Carolina Hurricane Isaias (DR-4568...

Updated 12/23/20: FEMA issued an update to a Presidential Major Disaster Declaration for areas in Louisiana affected by Hurricane Delta from October 6-10, 2020. Louisiana Hurricane Delta (DR-4570 Amendment 2)   Updated 11/6/20: FEMA issued an update to a Presidential Major Disaster Declaration for areas in Louisiana affected by Hurricane...

Investor Update October 8, 2020 Source: Fannie Mae   WASHINGTON, Oct. 8, 2020 /PRNewswire/ — Fannie Mae (OTCQB: FNMA) is reminding those impacted by Hurricane Delta of available mortgage assistance and disaster relief options. Under Fannie Mae’s guidelines for single-family mortgages impacted by a natural disaster: • Homeowners may request mortgage assistance by contacting...

Investor Update October 6, 2020  Source: HUD (temporary policy waiver) Today, the Federal Housing Administration (FHA) published a temporary policy waiver to its Single Family Housing Policy Handbook 4000.1 requirements that suspends the standard inspection requirement for “interior” photographs of property in designated Presidentially-Declared Major Disaster Areas (PDMDAs). This waiver of requirements for interior photographs in PDMDAs...