Archives For: Featured Resources
Tropical Storm Hanna Heads for Texas Gulf Coast, Heavy Rain Expected
The Weather Channel issued a report offering the latest on Tropical Depression Hanna, which has caused flooding and damage in South Texas.
27 Jul 2020
Hurricane Douglas Likely to Strike Hawaii with Heavy Rain, High Winds
The Weather Channel published a report offering the latest updates for Hurricane Douglas, which is pulling away from Hawaii and expected to return to open water.
27 Jul 2020
New York Bill Aims to Add Lender Requirement Prior to HECM Foreclosure
A5627/S4408 has passed the New York State Legislature. The proposed legislation would require an authorized lender that seeks to foreclose upon a reverse mortgage issued under the federal home equity conversion mortgage program to provide notice to the department of financial services and to the mortgagor.
22 Jul 2020
New York Bill Aims to Require Servicer Contact Info During Foreclosure
A.6976/S.4190 has passed the New York State Legislature. The proposed legislation would require a mortgage loan servicer’s name and phone number to be included at multiple points during foreclosure proceedings.
21 Jul 2020
VA: VALERI Servicer Newsflash
The U.S. Department of Veterans Affairs (VA) issued a release providing information related to Adequacy of Servicing, Electronic Default Notice Event, Foreclosure Sale Scheduled Event and contacting the VA.
17 Jul 2020
Fannie Mae: SVC-2020-03: Servicing Guide Updates
Fannie Mae issued a release announcing updates that simplify loss draft disbursement policies while balancing risk, revise post-disaster credit reporting requirements, authorize servicers to not send a payment reminder notice to borrowers in an active forbearance plan, and encourage servicers to make borrowers aware of the Disaster Response Network.
15 Jul 2020
Freddie Mac: FHLMC Guide Bulletin 2020-29: Servicing Updates
Freddie Mac announced a number of updates relevant to servicers. Included are changes to insurance loss requirements and document custody.
15 Jul 2020
Freddie Mac: FHLMC Guide Bulletin 2020-28: Eligible Disasters and Other Servicing Guidance Related to COVID-19
Freddie Mac announced a number of updates relevant to servicers. Included is guidance related to eligible disasters and the introduction of the Disaster Payment Deferral.
15 Jul 2020
Fannie Mae: AAA Matrix Update – July 2020
Fannie Mae announced that as of July 1, 2020, the fee amount for the Case Management Hearing – Illinois Administrative Order – SP37 Standard Excess Fee has been updated in the Illinois Attorney Authorization Approval matrix.
15 Jul 2020
HUD: FHA INFO #20-50: Updated Servicing and Loss Mitigation Section Draft of the Single Family Housing Policy Handbook
The Federal Housing Administration (FHA) has posted a draft revision of the Servicing and Loss Mitigation section (Section III) of the Single Family Housing Policy Handbook 4000.1 on the Single Family Housing Drafting Table for public review and feedback.
14 Jul 2020