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USDA: Measures to Help Rural Residents, Businesses and Communities Affected by COVID-19
The USDA updated a previous announcement regarding immediate measures it is taking to help rural residents, businesses and communities affected by the COVID-19 outbreak. The announcement now highlights guidance issued by the Centers for Disease Control and Prevention ordering a halt in tenant residential evictions.
9 Sep 2020
Fannie Mae: SVC-2020-04: Servicing Guide Updates
Fannie Mae issued an update that revises the allowable foreclosure attorney fees for Hawaii, incorporates disaster payment deferral policy and references to payment deferral, updates the authority to offer an initial forbearance plan of up to three months without achieving quality right party contact in connection with a disaster event, and removes outdated references to master agreements.
9 Sep 2020
VA: Circular 26-20-12: Extended Relief Under the CARES Act for those Affected by COVID-19
The VA issued a release with the purpose of clarifying the loan modification option, VA Purchase option, and removing a reference to a lump sum payment in regard to extended relief under the CARES Act for those affected by COVID-19.
9 Sep 2020
FEMA Declared Disaster Puerto Rico
FEMA issued a Presidential Major Disaster Declaration for areas in Puerto Rico affected by Hurricane Isaias from July 29-31, 2020.
9 Sep 2020
USDA: Servicing Relief for Borrowers Impacted by Presidentially Declared Disaster Areas During the COVID-19 Pandemic
The U.S. Department of Agriculture (USDA) issued a release announcing relief measures for holders and/or loan servicers of USDA Sigle Family Housing Guaranteed Loan Program mortgages and providing guidance on assisting borrowers affected by a Presidentially Declared Disaster area during the COVID-19 pandemic.
8 Sep 2020
Severe Storms Cause Northeast Ohio Home Flooding
Cleveland.com published an article outlining severe thunderstorm activity that caused home flooding in parts of Ohio.
7 Sep 2020
VA: Circular 26-20-34: Special Relief Following Hurricane Laura
The VA issued a release that expresses concern about VA home loan borrowers affected by Hurricane Laura, and describes measures mortgagees may employ to provide relief.
4 Sep 2020
Fannie Mae: Hawaii AAA Matrix Update
Fannie Mae announced that effective September 9, 2020, the maximum allowable amount for the judicial foreclosure fee has been updated from $4,950 to $9,000 for Honolulu County, Hawaii and from $6,000 to $10,000 for all other counties in the Hawaii AAA Matrix.
3 Sep 2020
HUD: FHA INFO #20-64: Guidance Regarding Presidentially-Declared Major Disaster Areas During the COVID-19 Pandemic
HUD provided clarification to mortgagees about its guidance for originating and/or servicing FHA-insured forward mortgages in the U.S. and its territories when a Presidential Major Disaster Declaration is issued during the COVID-19 pandemic.
2 Sep 2020
Tropical Storm Marco Makes Landfall, Weakens
FEMA issued an update to an Emergency Declaration for areas in Mississippi affected by Hurricane Marco and Tropical Storm Laura beginning on August 23, 2020 and continuing. The action closes the incident period on August 29, 2020.
1 Sep 2020
White House Says CDC Will Halt Evictions Using Quarantine Rules
Bloomberg published an article discussing a Centers for Disease Control and Prevention (CDC) announcement to temporarily suspend evictions of certain consumers to prevent the spread of COVID-19.
1 Sep 2020
NYDFS: Fees Paid to Register Mortgages in Default Guidance
The New York State Department of Financial Services (NYDFS) issued guidance to state-regulated mortgage lenders and servicers pertaining to fees paid to register mortgages in default. The guidance outlines a compliance requirement for mortgagees under the supervision of the NYDFS to remove and reverse any and all registration fees charged to the mortgagor’s account for properties registered in the State of New York.
1 Sep 2020
Limiting Mortgage Servicing Risk in Turbulent Times
DS News published an article highlighting how mortgage lenders and servicers are working to assess creditworthiness and anticipate potential risk among aspiring homebuyers.
31 Aug 2020
Microbursts, Tornadoes Damage Connecticut Homes
CTpost published a report detailing severe weather activity that damaged homes in portions of New Haven County, Connecticut.
28 Aug 2020
VA: Circular 26-20-32: Special Relief Following Severe Storms in Iowa
The VA issued a release that expresses concern about VA home loan borrowers affected by severe storms in Iowa, and describes measures mortgagees may employ to provide relief.
28 Aug 2020
Fannie Mae Lender Letter LL-2020-11: Disaster Payment Deferral
Fannie Mae announced that LL-2020-11 has been revised to clarify the intent of certain requirements in response to servicer inquiries. Additionally, an update has been made on the authority to offer an initial forbearance plan of up to three months without achieving quality right party contact in certain circumstances in connection with a disaster event.
27 Aug 2020