Archives For: Industry Updates
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
The Key to Easing Mortgage Defaults
DS News published an article outlining research conducted by the JPMorgan Chase Institute.
18 Oct 2018
New Hampshire Rep Takes Aim at ‘Zombie Foreclosures’
Source: New Hampshire Business Review Swanzey rep mulls legislation targeting lender’s responsibility post-foreclosure If you foreclose on a property, then you’re responsible for taking care of it. That’s the idea behind a bill that Rep. James McConnell, R-North Swanzey, would like to introduce next session, aimed are called “zombie foreclosures.” “The financial institution doesn’t care. Neither […]
10 Oct 2018
Cleveland Demolished Vacant Homes Near Public Schools, But Not Near Private Schools
Source: WEWS ABC 5 A Cleveland initiative aimed at demolishing vacant homes that children walk by on their way to school has led to the tear-down of hundreds of properties near public schools. But a News 5 On Your Side investigation found the safety of children who walk to private schools is still at risk. The […]
4 Oct 2018
FHA INFO #18-42: FHA Disaster-Related Policy Waiver Issued in the Presidentially-Declared Major Disaster Area of Lake and Shasta Counties Due to the California Wildfires and High Winds Declaration
Source: HUD Today, the Federal Housing Administration (FHA) issued a waiver of its policy on the timeframe for completing the inspection of properties prior to closing or submitting the mortgage for FHA insurance endorsement in the August 4, 2018, Presidentially-Declared Major Disaster Area (PDMDA) due to the California Wildfires and High Winds declaration (DR-4382) in Lake and Shasta […]
2 Oct 2018
State Supreme Court Restores Powerful Blight-Fighting Tool
Plan Philly published an article discussing a recent Pennsylvania Supreme Court ruling that reaffirms the City of Philadelphia’s ability to force property owners to maintain the appearances of their vacant buildings.
25 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
NYS Legislature OKs Law Letting Syracuse Add Unpaid Housing Fines to Tax Bills
Syracuse.com published an article discussing the passage of NY A00416A, which authorizes the City of Syracuse to add unpaid housing code violation penalties, costs and fines to the city’s annual tax levy.
21 Jul 2018
As Hurricane Season Arrives, U.S. Homeowners Haven?t Fixed Their Big Underinsurance Problem
The Wall Street Journal published an article discussing homeowners who are inadequately insured for natural-catastrophe damage ahead of the height of the Atlantic hurricane season. Insufficient insurance coverage impacts a borrower’s ability to remain current, with additional potential negative consequences, such as property abandonment.
18 Jul 2018