Author: Alert team

Investor Update March 10, 2020 Source: FHFA Washington, D.C. – “To meet the needs of borrowers who may be impacted by the coronavirus, last week Fannie Mae and Freddie Mac (“the Enterprises”) reminded mortgage servicers that hardship forbearance is an option for borrowers who are unable to make their monthly...

Industry Update March 10, 2020 Source: The Mercury News Additional Resource: The Mercury News (San Jose Mayor Calls for Moratorium on Evictions During Coronavirus Outbreak) HousingWire: (U.S. Cities Are Taking Action on Halting Evictions) Amid growing concerns over the potential economic fallout of the coronavirus outbreak on Silicon Valley businesses and residents, San...

Investor Update March 16, 2020 Source: OCC COVID-19 is a respiratory disease caused by a novel (new) coronavirus that was first detected in Wuhan City, Hubei Province, China. The OCC is working cooperatively with all state and federal banking agencies and other organizations to regulated institutions and their customers in...

Industry Update March 12, 2020 Source: The Miami Herald Additional Resources: The Miami Herald (Twitter) HousingWire: (U.S. Cities Are Taking Action on Halting Evictions) Miami-Dade County Police Department Miami-Dade police announced Thursday that officers would not assist with evictions during the emergency declared by Mayor Carlos Gimenez for the coronavirus pandemic. The agency said it...

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,...