Investor Update June 25, 2021 Source: USDA Additional Resource: USDA (SFHGLP Temporary Exceptions in Relation to COVID-19) PURPOSE The purpose of this notice is to announce an extension of the moratorium on foreclosure and to extend the date by which a lender may approve a borrower’s request for an initial COVID-19 mortgage...
Investor Update June 24, 2021 Source: FHFA Additional Resource: FHFA Director Mark Calabria’s Statement on the U.S. Supreme Court’s Collins v. Yellen Decision Washington, D.C. – Today, the White House appointed Sandra L. Thompson as the Acting Director of the Federal Housing Finance Agency (FHFA) effective immediately. “I am honored that President Biden has...
Industry Update June 24, 2021 Source: The Hill Additional Resource: CDC (CDC Director Extends the Eviction Moratorium for 30 days) The Centers for Disease Control and Prevention (CDC) on Thursday announced a one-month extension to the nationwide pause on evictions put in place amid the coronavirus pandemic. The eviction moratorium, which was set...
Investor Update June 22, 2021 Source: DS News Rep. Maxine Waters, Chairwoman of the House Financial Services Committee has sent a letter to the U.S. Department of Housing and Urban Development (HUD), U.S. Department of Agriculture (USDA), U.S. Department of Veterans Affairs (VA), Consumer Financial Protection Bureau (CFPB), and the Federal Housing Finance Agency (FHFA) requesting that...
Investor Update June 22, 2021 Source: FHFA More than 5.8 million homeowners helped since conservatorship Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its first quarter 2021 Foreclosure Prevention and Refinance Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 224,646 foreclosure prevention actions in...
Investor Update June 21, 2021 Source: HUD Department publishes Federal Register notice governing the use of $2 billion in CDBG-DR for a more resilient, efficient, reliable, and sustainable electric power system in Puerto Rico and USVI WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today published a...
Updated 6/30/21: Fannie Mae updated provisions regarding the suspension of foreclosure-related activities and filing motions for relief from the automatic stay in certain bankruptcy cases. Lender Letter LL-2021-02 Investor Update June 16, 2021 Source: Fannie Mae This Lender Letter provides advance notice of upcoming changes to our investor reporting processes and systems....
Disaster Alert June 14, 2021 Source: CBS 2 Approximate impacted areas: California -Pinyon Flats (Riverside County, 93553) *Homes destroyed/damaged near Pinyon Crest (Riverside County, 92561) NOTE: This has NOT yet been declared a FEMA Major Disaster. YUCAIPA (CBSLA) – As temperatures soared Sunday, air and ground fire crews battled the 400-acre Flats Fire in the Santa...
Investor Update June 9, 2021 Source: Fannie Mae The Servicing Guide has been updated to include changes to the following: ▪ Verification of borrower’s income and assets*: provides an alternative means of verifying borrower income and asset information through the use of third-party vendors. ▪ Post-forbearance disaster payment deferral: clarifies when the borrower must make their...
Updated 6/3/21: The U.S. Department of Veterans Affairs (VA) updated guidance providing a summary of the home retention options and alternatives to foreclosure that servicers should utilize to help borrowers affected by the pandemic. Circular 26-21-07: Change 1 Investor Update March 26, 2021 Source: VA 1. Purpose. The Department of Veterans Affairs...
