Archives For: Industry Updates
Bill to Permit Municipal Land Banking with Online Database Clears Committee
Insider NJ published an article announcing that legislation aiming to permit municipal land banking in conjunction with online property database development in New Jersey cleared the Senate Budget and Appropriations Committee.
10 Dec 2018
New Jersey Bill Aims to Create Foreclosure Buyback Program
Senate Bill 1584 (Establishes the “New Jersey Residential Foreclosure Transformation Act”) was reported from the Senate Budget and Appropriations Committee with amendments and a second reading. The bill was originally introduced on February 5.
10 Dec 2018
Calls for Audit on Brooklyn Home Foreclosures
Caribbean Life published an article discussing an action taken by Brooklyn, N.Y., civic leaders that calls for a full-scale forensic audit and investigation in the federal, state and city levels into the issue of deed fraud currently faced by the Borough.
30 Nov 2018
Erie City Land Bank Lists First 20 Blighted Properties to be Demolished or Repaired
Erie News NOW released an article announcing the first action to be carried out by the Erie City (Pa.) Land Bank Board.
29 Nov 2018
Judicial Foreclosure vs. Lender Behavior
DS News published an article exploring a brief authored by Wharton School (University of Pennsylvania) Professor Brian D. Feinstein. In it, Feinstein explores the impact that judicial foreclosures have on borrowers, lenders, and policymakers.
29 Nov 2018
Somerset County Considers Land Project to Deal with Blight
An ordinance designating the Redevelopment Authority of Somerset County (Pa.) to act as land bank was passed by the Somerset County Board of Commissioners.
27 Nov 2018
York Has Power to Seize Slumlord Assets
The York Daily Record published an article authored by Jeri E. Stumpf, president and founder of Jeri E. Stumpf & Associates, Inc. and former director of city planning and acting director of the Redevelopment Authority in York, Pa. In It, Stumpf weighs in on how Pennsylvania municipalities (specifically the City of York) can combat blight created by dilapidated rental properties.
21 Nov 2018
HUD: FHA INFO #18-43: Updated Guidance on Home Equity Conversion Mortgage (HECM) Claim Type 22 (CT-22) Assignment Requests
Today, the Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2018-08: Updated Guidance on Home Equity Conversion Mortgage (HECM) Claim Type 22 (CT-22) Assignment Requests. Read today’s Press Release. This ML provides consolidated and updated guidance regarding the submission of HECM assignment requests to the Department of Housing and Urban Development (HUD). It outlines the documentation and procedures […]
22 Oct 2018
Freddie Mac: Disaster-Related Forbearance Policy Added to Loan Coverage Advisor
Loan Coverage Advisor® has been updated to include the Disaster-Related Forbearance Policy for selling reps and warranties. Now you can track reporting events and Alternative Payment Plan (APP) information for disaster-impacted loans after August 25, 2017 that meet the policy requirements defined in Single-Family Seller/Servicer Guide (Guide) Chapter 1301.11, for greater insight into your rep and warranty […]
22 Oct 2018
MHA: HAMP Update: Upcoming Changes to HMPadmin.com
In an effort to simplify accessibility of reporting documents on the Making Home Affordable Program Website (HMPadmin.com), the secure login access for participating servicers will be retired in January 2019. In preparation for this change, the following guides/forms have been moved to the Programs tab on the main page of the site under Loan Reporting […]
19 Oct 2018