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FEMA Declared Disaster Montana
FEMA issued an update to a Presidential Major Disaster Declaration for areas in Montana affected by flooding from April 12 to May 6, 2018.
21 Sep 2018
Fannie Mae: Servicing Guide Updates; SMDU Enhancements; and More
Source: Fannie Mae Announcement SVC-2018-06: Servicing Guide updates The Fannie Mae Servicing Guide has been updated with changes that: Transfer payment responsibility from servicers to Fannie Mae for co-op fees and assessments, and property taxes and ground rents, for all properties in Fannie Mae’s REO inventory. Reduce the complexity of Texas Section 50(a)(6) loan modifications under our Cap […]
19 Sep 2018
USDA: Servicing Relief to Borrowers Affected by Hurricane Florence
Source: USDA This announcement outlines relief measures loan holders and loan servicers should implement to assist USDA Rural Development Section 502 Single Family Housing Guaranteed Loan Program (SFHGLP) borrowers affected by Hurricane Florence. Homeowners impacted by the hurricane may be eligible for temporary relief and the determination of eligibility may require a property inspection. Due to […]
19 Sep 2018
FHLMC Guide Bulletin 2018-14: Servicing Updates
Source: Freddie Mac Please review Single-Family Seller/Servicer Guide (Guide) Bulletin 2018-14 for important updates for Servicing Freddie Mac loans. This Guide Bulletin: Updates borrower evaluation notices and solicitation letters. Announces a new temporary reimbursement process for property inspections related to insurance loss settlements. Provides updates related to the Investor Reporting Change Initiative. Updates our reporting requirements for third-party […]
18 Sep 2018
Fannie Mae: Don’t Let Fraud Add to the Pain of a Natural Disaster
Source: Fannie Mae Hurricane Florence has battered the Carolinas and surrounding areas with historic rainfall and flooding, and remnants of the storm are expected to continue for days. Around this same time last year, Hurricane Harvey pummeled many southern U.S. states and Puerto Rico was devastated by Hurricane Maria, both storms leaving behind unprecedented destruction. While […]
18 Sep 2018
VA: Circular 26-18-18: Special Relief Following Hurricane Florence
Source: VA 1. Purpose. This Circular expresses concern about the Department of Veterans Affairs (VA) home loan borrowers affected by Hurricane Florence, and describes measures mortgagees may employ to provide relief. Mortgage servicers and borrowers alike should review VA’s Guidance on Natural Disasters to ensure Veterans receive the assistance they need. (https://www.benefits.va.gov/homeloans/documents/docs/va_policy_regarding_natural_disasters. pdf) or https://www.benefits.va.gov/WARMS/docs/admin26/m26_04/Chapter_21.docx. 2. Forbearance Request. VA […]
18 Sep 2018
Fannie Mae Reverse Mortgage Loan Servicing Manual Announcement RVS-2018-03
Source: Fannie Mae Reverse Mortgage Loan Servicing Manual Update The Reverse Mortgage Loan Servicing Manual has been updated to include changes related to the servicer requirement to pay ground rents, co-op fees and assessments, and property taxes for certain properties in Fannie Mae’s REO inventory. This policy change is applicable to all reverse mortgage loans. Relieving […]
18 Sep 2018
Congressman Tim Ryan Spearheads Bipartisan Effort to Eliminate Neighborhood Blight
The office of U.S. Representative Tim Ryan issued a press release announcing the introduction of H.R. 6792 (Clean Up Our Neighborhoods Act of 2018). The bill aims to authorize the secretary of housing and urban development to make grants to states to eliminate blight by taking down abandoned homes, clearing vacant lots, and assist in distressed neighborhood revitalization.
18 Sep 2018
Safeguard Properties Unveils Workflow Management Platform
Safeguard Properties announced the unveiling of its integrated field services platform, SafeView, at the Five Star Conference and Expo.
17 Sep 2018
HUD: FHA INFO #18-40: Reminder — Guidance for FHA-Approved Mortgagees and Servicers Regarding Presidentially-Declared Major Disaster Areas
Source: HUD Today, the Federal Housing Administration (FHA) is issuing this reminder to mortgagees about its guidance for originating and/or servicing FHA-insured forward and reverse mortgages in locations in the U.S. and its territories when the President declares it a major disaster area. This declaration is made when natural or other events are of such severity […]
14 Sep 2018
Gas Explosions Burn Homes in Massachusetts
CNN published a report outlining a gas explosion that damaged and destroyed properties across three towns located near Boston, Mass.
14 Sep 2018
MHA: HAMP Update: Updated Data Dictionary Posted
Source: MHA In connection with the October 2018 release of the HAMPReporting System, an updated version of the following Data Dictionary was posted on HMPadmin.com: HAMP Data Dictionary – 10/01/2018 Release
14 Sep 2018
FHFA: Refinance Report – July 2018
Source: FHFA July 2018 Highlights Total refinance volume decreased in July 2018 as mortgage rates in June remained above the levels observed in 2017. Mortgage rates decreased in July: the average interest rate on a 30-year fixed rate mortgage fell to 4.53 percent from 4.57 percent in June. In July 2018: Borrowers completed 696 refinances through […]
13 Sep 2018
Freddie Mac: Confirmation of Disaster Relief Policies as Hurricane Florence Approaches
Source: Freddie Mac MCLEAN, Va., Sept. 12, 2018 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today reminded Servicers of its disaster relief policies for borrowers who have been affected by Hurricane Florence. Freddie Mac’s disaster relief options are available to borrowers whose homes or places of employment are located in presidentially-declared Major Disaster Areas where federal individual assistance […]
12 Sep 2018
Fannie Mae: Reminder: Mortgage Assistance Options for Areas Affected by Hurricane Florence
Source: Fannie Mae WASHINGTON, DC – Fannie Mae (FNMA/OTC) is reminding those impacted by Hurricane Florence of the options available for mortgage assistance. Under Fannie Mae’s guidelines for single-family mortgages: Homeowners impacted by Hurricane Florence are eligible to stop making mortgage payments for up to 12 months, during which time they: will not incur late fees […]
12 Sep 2018
FEMA Declared Disaster Iowa
FEMA issued a Presidential Major Disaster Declaration for areas in Iowa as a result of a severe storm and tornadoes that took place July 19, 2018.
12 Sep 2018