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Fannie Mae: Servicing Guide Updates; New Consolidated Forbearance Plan; and More
Fannie Mae issued a release highlighting information relevant to servicers and sellers. Included are several Servicing Guide updates that clarify servicer requirements for submitting Form 1022 (Servicemembers Civil Relief Act (SCRA) Reporting and Disbursement Form), provide forbearance plan options, and respond to servicer feedback by removing the time frame associated with servicer reimbursements for escrow advances on delinquent loans.
13 Jun 2018
FHFA: Fifth Report on Non-Performing Loan Sales Released
The Federal Housing Finance Agency (FHFA) issued a news release announcing the availability of its Enterprise Non-Performing Loan Sales Report.
13 Jun 2018
FHLMC Guide Bulletin 2018-9: Servicing Updates
Freddie Mac issued a release announcing the consolidation of forbearance plan offerings, the introduction of a new Duty to Serve partnership and more.
13 Jun 2018
USDA: Foreclosure Moratorium Extended for Areas Impacted by Hurricane Maria
The U.S. Department of Agriculture (USDA) announced the extension of a moratorium on property foreclosures in the Presidentially Declared Disaster (PDD) areas impacted by Hurricane Maria.
13 Jun 2018
Freddie Mac: Single Security Webinar: What Seller/Servicers Need to Know
Freddie Mac issued a release outlining an upcoming webinar hosted by the Mortgage Bankers Association (MBA).
12 Jun 2018
VA: Circular 26-16-14 Change 1: Title Requirements for Conveyance of Real Property
The U.S. Department of Veterans Affairs (VA) issued a revised version of Circular 26-16-14. The circular extends the rescission date of the original circular.
11 Jun 2018
FEMA Declared Disaster Alaska
On June 8, 2018, FEMA issued a Presidential Major Disaster Declaration for areas in Alaska affected by a severe storm on December 4, 2017.
8 Jun 2018
FEMA Declared Disaster New Hampshire
On June 8, 2018, FEMA issued a Presidential Major Disaster Declaration for areas in New Hampshire affected by a severe winter storm and snowstorm from March 13-14, 2018.
8 Jun 2018
FEMA Declared Disaster New Hampshire
On June 8, 2018, FEMA issued a Presidential Major Disaster Declaration for areas in New Hampshire affected by a severe storm and flooding from March 2-8, 2018.
8 Jun 2018
State Supreme Court Issues Foreclosure Ruling
DS News published an article outlining a recent Wisconsin Supreme Court case where it was decided that claim preclusion does not prevent a lender from bringing further foreclosure actions if a borrower remains in default after the initial dismissal.
8 Jun 2018
Cleveland Heights May Explore Bond Ordinance
Cleveland.com published an article discussing the ongoing review by the city of Cleveland Heights, Ohio, of a proposed “foreclosure bond” requirement.
7 Jun 2018
MBA Finds Stevens Successor: Meet the New President and CEO
HousingWire published an article discussing the Mortgage Bankers Association’s (MBA) selection of Robert Broeksmit as its new president and CEO. Broeksmit will join the organization officially on August 20, 2018.
7 Jun 2018
The Way Forward
The Monroe County (N.Y.) Vacant and Abandoned Property Task Force issued an annual report providing recommendations to bolster foreclosure prevention and directly engage the issue of distressed properties.
7 Jun 2018
Fannie Mae: Modification Interest Rate Adjustment Update
Fannie Mae issued an exhibit providing the current Modification Interest Rate used to evaluate borrowers for conventional mortgage loan modifications.
7 Jun 2018
Fannie Mae: Foreclosure-Related Title Cost Updates and More
Fannie Mae issued a release highlighting information relevant to servicers and sellers.
6 Jun 2018
Freddie Mac: New Re-Employment Program to Help Financially Distressed Home Possible Borrowers Launched
Freddie Mac issued a release introducing a re-employment program designed to help financially distressed Freddie Mac Home Possible borrowers in Duty to Serve high-needs areas address their employment challenges and prevent potential mortgage loan delinquencies and defaults.
6 Jun 2018