Author: Alert team

Updated 3/10/20: FEMA issued an update to a Presidential Major Disaster Declaration for areas in Puerto Rico affected by earthquakes from December 28, 2019, to February 4, 2020. Puerto Rico Earthquakes (DR-4473 Amendment No. 5) Updated 2/27/20: FEMA issued an update to a Presidential Major Disaster Declaration for areas...

Investor Update March 11, 2020 Source: MHA Black Knight will be implementing the use of Multi-factor authentication using RSA Adaptive Authentication on March 29th, 2020 that will require users to complete a one-time successful answer of their stored “Challenge Question” before accessing the HAMP Reporting Tool. To ensure continued...

Investor Update March 12, 2020 Source: Freddie Mac With recent reports of the possible spread of COVID-19 (i.e. the coronavirus) in the United States, we understand that you may have concerns on how this may affect our ability to do business. Rest assured that Freddie Mac has business continuity...

Investor Update March 13, 2020  Source: HUD Additional Resources: HUD FHA INFO #20-18 (Loss Mitigation Home Retention Options for Assisting Borrowers) HUD FHA INFO #20-16 (Coronavirus Information Available) In this Announcement: • Continuation of FHA Single Family Business Operations Related to COVID-19 • Temporary Partial Waiver of Servicing Requirements Regarding Face-to-Face Contact with Borrowers See below for...

Disaster Alert March 9, 2020 Source: NBC News Additional Resource: Newsweek (California Hit by 7 Earthquakes at the Junction of the San Andreas Fault and Cascadia Subduction Zone) CNN (Magnitude 5.8 Earthquake Strikes Off Northern California Coast) NOTE: This has not yet been declared a FEMA Major Disaster. A 5.8 magnitude earthquake shook Northern California...

Disaster Alert March 3, 2020 Source: The Weather Channel Additional Resources: WSMV NBC News 4: (Tornado moves across Nashville and Middle TN) Tennessee Emergency Management Agency (TEMA): Current Status: State of Emergency Approximate locations sustaining structural damage: Tennessee – Cookeville (Putnam County, 38501, 38502, 38503, 38505, 38506) – Donelson (Davidson County, 37214) – Germantown (Shelby County, 38125, 38138,...

Investor Update March 3, 2020  Source: HUD Earlier this week, HUD Secretary Dr. Ben Carson was added to the White House Coronavirus Task Force. All federal agencies are working aggressively on a multi-layered, cross-agency public health response to this evolving situation. While the risk of infections for Americans remains low,...

Investor Update March 2, 2020 Source: OCC Summary The Office of the Comptroller of the Currency (OCC) issued today the revised “Protecting Tenants at Foreclosure Act” booklet of the Comptroller’s Handbook. This booklet provides information and procedures for examiners in connection with the foreclosure activities and related consumer protections covered under...

Disaster Alert March 1, 2020 Source: FOX News Approximate locations impacted by home ice accumulations: New York – Hamburg (Erie County, 14075) NOTE: This has not yet been declared a FEMA Major Disaster. This would be a palace fit for Elsa. A powerful storm system that brought blizzard conditions to upstate New York last week created a winter wonderland on the shores of Lake...

Industry Update February 26, 2020 Source: Auction.com Most Default Servicers Expect Foreclosures to Increase in 2020 Despite no Economic Recession 89 Percent Expect Increase in Foreclosure Inflow from Government-Insured Loans Majority Expect Increased Foreclosure Inflow in Five of Seven U.S. Regions 68 Percent Plan to Increase Loss Mitigation Actions ...