Author: Alert team

Industry Update February 25, 2020 Source: Al.com Greene County, deep in Alabama’s Black Belt region, is the smallest county in the state, and one of the poorest. It’s one of only two counties in Alabama with fewer than 10,000 people, according to the U.S. Census Bureau. And it’s shrinking –...

Strong Winter Storm Moving Across Country Updated 2/25/20: ABC News issued a report offering the latest on strong winter storm that is expected to bring substantial snow accumulations to multiple states. Winter Storm Moving East with Heavy Snow Disaster Alert February 24, 2020 Source: ABC News Additional Resource: KIRO 7 (Strong winds bring down...

Investor Update February 24, 2020  Source: HUD Today, the Federal Housing Administration (FHA) announced that it has posted on its Single Family Housing Drafting Table, proposed enhancements to its Claims Without Conveyance of Title (CWCOT) program. All FHA-approved mortgagees, servicers, and other interested stakeholders are invited to review the posted...

Industry Update February 22, 2020 Source: WBEN Additional Resources: Erie County Clerk’s Zombies Initiative WKBW ABC (Erie County Taking Steps to Identify Vacant Property Stakeholders) Erie County Clerk partners with WNY Law Center to combat neglected properties CLARENCE, N.Y. (WBEN) – The latest initiative to combat zombie properties has been unveiled by the Erie...

Industry Update February 20, 2020 Source: The White House Today, President Donald J. Trump announced his intent to nominate the following individual to a key position in his Administration: Dana T. Wade of the District of Columbia, to be the Assistant Secretary for Housing, Federal Housing Commissioner. Mrs. Wade was previously...

Updated 2/17/20: The Weather Channel issued a report detailing river flooding in Jackson, Miss., that has led to home damage. Mississippi Flooding Continues As Pearl River Nears Crest; Dozens of Homes Already Damaged Additional Resources: Mississippi Emergency Management Agency (MEMA): Governor Reeves Issues State of Emergency MEMA: Preliminary Damage Report for Feb. 10-14...

Investor Update February, 14 2020 Source: VA Important Information Circular 26-20-2 – Special Relief Following Puerto Rico Earthquakes, was issued on January 23, 2020. The Federal Emergency Management Agency’s declared disaster counties are: Adjuntas, Arecibo, Cabo Rojo, Ciales, Corozal, Guanica, Guayanilla, Hormigueros, Jayuya, Juan Diaz Lajas, Lares, Las Marias, Maricao, Mayaguez,...

Updated 2/17/21: Fannie Mae issued a Lender Letter updating the MassHousing Mortgage Insurance Fund’s Loan Loss Reserve Agreement, Commitment/Certificate, and Mortgage Payment Protection Endorsement Forms as well as the list of Approved Mortgage Insurance Forms. Lender Letter 2021-06 Updated 2/12/20: Fannie Mae issued a Selling Notice announcing updates to its list of Approved...

Investor Update February 12, 2020 Source: Fannie Mae The Servicing Guide has been updated to include changes to the following: ▪ Prorated attorney fees and foreclosure milestone invoicing*: We updated the foreclosure milestone schedule and eliminated prorated fee requirements. ▪ Delinquency exception reporting *: We clarified when delinquency status exception reports will be made...

Industry Update February 11, 2020 Source: MBA WASHINGTON, D.C. (February 11, 2020) – The delinquency rate for mortgage loans on one-to-fourunit residential properties decreased to a seasonally adjusted rate of 3.77 percent of all loans outstanding at the end of the fourth quarter of 2019, according to the Mortgage Bankers Association’s...