Industry Update October 3, 2019 Source: CFPB WASHINGTON, D.C. – Consumer Financial Protection Bureau Director Kathleen L. Kraninger today announced the appointment of members to the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Council (ARC). These experts advise Bureau leadership...
Legislation Update October 1, 2019 Source: Connecticut General Assembly Additional Resource: Patch (Oct. 1 Means New Laws, Taxes In CT: Here’s The Full List) PA 19-192–sHB 7179 AN ACT CONCERNING CRUMBLING CONCRETE FOUNDATIONS. To (1) require the Commissioner of Housing to establish a grant program to support the development of methods and technologies that...
Industry Update September 25, 2019 Source: CFPB WASHINGTON, D.C. — The Consumer Financial Protection Bureau (Bureau) today announced the following additions to its executive team: Desmond Brown will serve as the Deputy Associate Director for the Consumer Education and Engagement Division. Mr. Brown has more than two decades of experience working with...
Updated 9/25/19: The VA issued Circular 26-19-24 – Change 2. Circular 26-19-24 – Change 2 (full circular) Updated 9/9/19: The VA issued Circular 26-19-24 – Change 1. Circular 26-19-24 – Change 1 (full circular) Investor Update August 19, 2019 Source: VA 1. Purpose. This Circular provides guidance and instructions to mortgage loan servicers concerning servicer collection letters...
Investor Update September 25, 2019 Source: FHFA Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its second quarter 2019 Foreclosure Prevention Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 31,757 foreclosure prevention actions in the second quarter of 2019, bringing the total number of foreclosure...
Updated 9/24/19: CBS News published a report outlining earthquake activity near Puerto Rico as Tropical Storm Karen approaches the island.Puerto Rico, Virgin Islands brace for Tropical Storm Karen Disaster AlertSeptember 23, 2019 Source: CNN NOTE: This has not yet been declared a FEMA Disaster. (CNN) – Tropical Storms Karen, Jerry and...
Tropical Depression Imelda Drenching Texas Coast Tropical Depression Imelda Drenching Texas Coast Updated 11/8/19: The U.S. Department of Veterans Affairs (VA) issued a circular that expresses concern about VA home loan borrowers affected by Tropical Storm Imelda and describes measures mortgagees may employ to provide relief. Circular 26-19-29: Special...
FEMA Declared Disaster LouisianaFEMA Alert UpdateOctober 17, 2019 FEMA issued an update to a Presidential Major Disaster Declaration for areas in Louisiana affected by flooding that took place May 10 to July 24, 2019. The following parish is eligible for assistance: Public Assistance St. Mary FEMA Louisiana Flooding (DR-4462 Amendment...
Investor UpdateSeptember 18, 2019 Source: Freddie Mac Single-Family Seller/Servicer Guide (Guide) Bulletin 2019-19 announces Servicing Gateway – one platform, one login, one doorway to most Freddie Mac servicing tools. Beginning November 25, 2019, Servicing Gateway will offer an efficient and simplified way of working via a unified portal that offers a single...
Investor UpdateSeptember 18, 2019 Source: FHFA Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the end of the Mortgage Servicing Rights (MSR) financing pilot program for Fannie Mae and Freddie Mac (the Enterprises). The MSR pilot began in 2018 to provide financing to non-bank servicers as...
