Archives For: Industry Alerts
The Office of the Comptroller of the Currency (OCC) recently issued its 2019 Annual Report, which provides Congress with an overview of the condition of the federal banking system and details agency strategic priorities.
7 Jan 2020
On January 6, the Office of the Comptroller of the Currency (OCC) announced Brian James as deputy comptroller for the Central District.`
6 Jan 2020
The U.S. Department of Housing and Urban Development (HUD) released its 2019 year in review outlining the major accomplishments of the agency under Secretary Ben Carson.
2 Jan 2020
The U.S. Department of Agriculture (USDA) announced that a previously proposed rule designed to streamline the loss claim process for lenders who have acquired title to property through voluntary liquidation or foreclosure and better align loss mitigation policies with the mortgage industry has been published in the Federal Register. The rule will become effective on April 24, 2020.
26 Dec 2019
New York Governor Andrew Cuomo signed A.5619/S.5160 (An Act to amend the real property actions and proceedings law, in relation to the failure to raise the defense of lack of standing in a mortgage foreclosure action). The legislation amends Article 13 of the Real Property Actions and Proceedings Law to protect foreclosure court defendants by allowing more leeway to raise the defense of “standing”.
23 Dec 2019
Freddie Mac issued a release highlighting information made available by the Internal Revenue Service (IRS) that helps clarify the application of Section 2202 of the Taxpayer First Act.
20 Dec 2019
Fannie Mae confirmed an Internal Revenue Service (IRS) post clarifying that Section 2202 of the Taxpayer First Act is effective only for disclosures made by the IRS with the taxpayer’s consent after Dec. 28, 2019, and any subsequent redisclosures and uses of such information.
19 Dec 2019
FEMA issued a Presidential Major Disaster Declaration for areas in New York affected by severe storms, straight-line winds and flooding that took place October 31 to November 1, 2019.
19 Dec 2019
New York Governor Andrew Cuomo signed SB 5079A (Zombie Property Remediation Act). The legislation aims to permit municipalities to compel a mortgagee to either complete a mortgage foreclosure proceeding or to issue a certificate of discharge of the mortgage for any property which has been certified abandoned pursuant to article 13 of the real property actions and proceedings law.
18 Dec 2019
On December 18, Fannie Mae announced the availability of job aid relating to its ability to copy and resubmit claims on behalf of servicers, a new “Not Yet Recovered” drop-down option, HOA, COA & Co-Op dues, and property/insurance policies.
18 Dec 2019