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Investor Update July 23, 2021 Source: VA 1. Purpose. This Circular provides VA’s waterfall of home retention options for helping borrowers affected financially by the COVID-19 pandemic. This Circular also announces the COVID-19 Refund Modification, a type of loan modification specific to those borrowers needing payment reductions when exiting COVID-19...

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...

Legislation Update March 19, 2021 Source: The New York State Senate (A6519 Full Text/Info) Additional Resource:   https://cbs6albany.com/news/local/governor-cuomo-signs-legislation-addressing-plague-of-zombie-properties SUMMARY Prohibits a person, municipality or governmental entity from using plywood, wood composite, wood veneer, or similar wood-based products to secure any real property that is deemed vacant and abandoned. TEXT SNIPPET (b) No person, municipality or governmental...

FEMA Alert February 24, 2021 FEMA issued a Presidential Major Disaster Declaration for areas in Oklahoma affected by severe winter storms that took place February 8-20, 2021. The following counties have been approved for assistance: Public Assistance Statewide (77 Counties) Individual Assistance Canadian Carter Cherokee Comanche Cotton Hughes Jefferson ...

Investor Update February 16, 2021 Source: USDA The purpose of this notice is to provide relief to and guidance for Single Family Housing Guaranteed Loan Program (SFHGLP) borrowers impacted by the COVID-19 pandemic. Moratorium on Foreclosures and Evictions: The U.S. Department of Agriculture (USDA) Rural Development is extending its moratorium on...

Land Bank Update February 5, 2021 Source: The Star Press Additional Resource: LegiScan (IN SB0236 Full Text/Info) The Muncie Land Bank has successfully grown into a community asset for addressing the issue of property abandonment and vacancy. New pending legislation in the State Senate (Senate Bill 236) proposed by State Sen....

Industry Update January 25, 2021 Source: U.S. Department of the Treasury WASHINGTON – Today, the United States Department of the Treasury announced new members of staff who will serve in key roles. These qualified, tested, and skilled leaders will join a team prepared to deliver results by getting the economy...

Investor Update January 19, 2020 Source: FHFA Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will extend the moratoriums on single-family foreclosures and real estate owned (REO) evictions until February 28, 2021.  The foreclosure moratorium applies to Enterprise-backed, single-family...

FEMA Alert January 15, 2021 FEMA issued a Presidential Major Disaster Declaration for areas in Colorado affected by wildfires that took place September 6 to November 5, 2020. The following counties have been approved for assistance: Public Assistance Grand Larimer Colorado Wildfires (DR-4581)   Additional Resources FEMA’s web site FEMA’s Disaster Declaration Process HUD...