Author: Alert team

Updated 6/30/21: Fannie Mae updated provisions regarding the suspension of foreclosure-related activities and filing motions for relief from the automatic stay in certain bankruptcy cases. Lender Letter LL-2021-02 Investor Update June 16, 2021 Source: Fannie Mae This Lender Letter provides advance notice of upcoming changes to our investor reporting processes and systems....

Disaster Alert June 14, 2021 Source: CBS 2 Approximate impacted areas: California -Pinyon Flats (Riverside County, 93553) *Homes destroyed/damaged near Pinyon Crest (Riverside County, 92561) NOTE: This has NOT yet been declared a FEMA Major Disaster. YUCAIPA (CBSLA) – As temperatures soared Sunday, air and ground fire crews battled the 400-acre Flats Fire in the Santa...

Investor Update June 9, 2021 Source: Fannie Mae The Servicing Guide has been updated to include changes to the following: ▪ Verification of borrower’s income and assets*: provides an alternative means of verifying borrower income and asset information through the use of third-party vendors. ▪ Post-forbearance disaster payment deferral: clarifies when the borrower must make their...

Updated 6/3/21: The U.S. Department of Veterans Affairs (VA) updated guidance providing a summary of the home retention options and alternatives to foreclosure that servicers should utilize to help borrowers affected by the pandemic. Circular 26-21-07: Change 1   Investor Update March 26, 2021 Source: VA 1. Purpose. The Department of Veterans Affairs...

Investor Update June 3, 2021 Source: FHFA Washington, D.C. — Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will continue to offer COVID-19 forbearance to qualifying multifamily property owners through September 30, 2021, subject to the continued tenant protections FHFA has imposed...

Investor Update June 3, 2021 Source: Fannie Mae Additional Resource: Multifamily Borrowers Now Eligible for Forbearance through September 30, 2021 WASHINGTON, DC – To continue to support renters in multifamily units and Fannie Mae-financed multifamily property owners experiencing financial difficulties as COVID-19 persists, Fannie Mae (FNMA/OTCQB) today announced the extension of its...

FEMA Alert June 2, 2021 FEMA issued a Presidential Major Disaster Declaration for areas in Louisiana affected by severe storms, tornadoes and flooding that took place May 17-21, 2021. The following parishes have been approved for assistance: Individual Assistance Ascension Calcasieu East Baton Rouge Iberville Lafayette Louisiana Severe Storms,...

Industry Update May 27, 2021 Source: ATTOM Data Solutions But Zombie Foreclosures Still Represent Just One of Every 12,300 Residential Properties; Percentage of Foreclosure Properties Sitting Empty Ticks Down IRVINE, Calif. – May 27, 2021 — ATTOM Data Solutions, curator of the nation’s premier property database, today released its second-quarter 2021 Vacant Property...

Industry Update May 24, 2021 Source: Florida Phoenix Additional Resource: The White House (Remarks by President Biden During Briefing on the Atlantic Hurricane Outlook and Preparedness Efforts) WASHINGTON — President Joe Biden is doubling the amount of federal funding to help states prepare for natural disasters like hurricanes and wildfires, he...

Industry Update May 24, 2021 Source: DS News Additional Resource: QuoteWizard (The Rising Fear of Eviction or Foreclosure) An analysis by QuoteWizard, a LendingTree company, of American homeowners and renters has found that an increasing number are growing more concerned of keeping a roof over their head as foreclosure moratoria dates grown...