Author: Alert team

Updated 8/6/20: FEMA issued an Emergency Declaration for areas in Connecticut affected by Tropical Storm Isaias on August 4, 2020. Connecticut Tropical Storm Isaias (EM-3535) Included Tribal Areas: Mashantucket Pequot Tribe (New London County, 06338) Mohegan Tribe of Indians (New London County, 06382) Updated 8/5/20: Patch.com published a report outlining major creek/river...

Investor Update July 28, 2020  Source: HUD Wade’s housing expertise includes her previous role as Acting Federal Housing Commissioner and Assistant Secretary for Housing WASHINGTON – U.S. Department of Housing and Urban Development Secretary Ben Carson today applauded the confirmation of Dana Wade to serve as the Federal Housing Administration’s...

Updated 2/4/21: FEMA issued a Presidential Major Disaster Declaration for areas in Washington affected by wildfires and straight-line winds that took place September 1-19, 2020. Washington Wildfires and Straight-Line Winds (DR-4584) Updated 12/7/20: The Weather Channel published a report offering the latest updates regarding wildfire activity in Southern California. Fire Danger...

Updated 7/27/20: The Weather Channel issued a report offering the latest on Tropical Depression Hanna, which has caused flooding and damage in South Texas. Tropical Depression Hanna Unleashes Flooding, Power Outages Across South Texas, Northeastern Mexico Updated 7/26/20: FEMA issued an Emergency Declaration for areas in Texas affected by...

Updated 7/27/20: The Weather Channel published a report offering the latest updates for Hurricane Douglas, which is pulling away from Hawaii and expected to return to open water. Hurricane Douglas Brushes Hawaii with Rain and Wind Updated 7/26/20: Hawaii News Now published an article detailing the latest warnings and watches issued...

Investor Update July 15, 2020 Source: Fannie Mae The Servicing Guide has been updated to include changes to the following: ▪ Loss draft updates*: simplifies our loss draft disbursement policies while managing risk. ▪ Revisions to post-disaster credit reporting requirements*: removes instructions to suspend credit reporting for borrowers impacted by a disaster. ▪ Payment reminder...

Investor Update July 15, 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...

Investor Update July 15, 2020 Source: Freddie Mac This Guide Bulletin announces: • Updates to insurance loss settlement requirements • Document Custody • Original Security Instrument requirement removal – August 5, 2020 • Addition of lost note affidavit (LNA) provisions – November 1, 2020 • Clarification on insurance coverage – November 1, 2020 Additional Guide updates and reminders • Further updates and reminders...

Investor Update July 15, 2020 Source: Freddie Mac This Guide Bulletin announces: Eligible Disasters • Eligible Disaster updates • Credit reporting requirements updates for Borrowers impacted by an Eligible Disaster • Introduction of the Disaster Payment Deferral – October 1, 2020 COVID-19 Servicing updates and clarifications • Additional updates to Servicer incentives for Extend Modification and Capitalization and Extension Modification • Insurance loss...

Investor Update July 14, 2020  Source: HUD Today, the Federal Housing Administration (FHA) posted a draft revision of the Servicing and Loss Mitigation section (Section III) of the Single Family Housing Policy Handbook 4000.1 (SF Handbook) on the Single Family Housing Drafting Table (Drafting Table) for public review and feedback. This...