Archives For: Featured Resources
GAO: Natural Disasters and FEMA’s Individual Assistance Program
Source: GAO (full blog) In September 2018, Hurricane Florence brought record-setting floods to the Carolinas and another major deployment of the Federal Emergency Management Agency. The numbers aren’t in yet on Florence’s impact, but in 2017, California wildfires, Atlantic hurricanes and other natural disasters affected about 25.8 million people in the United States. About 4.7 million of […]
27 Sep 2018
HUD OIG: HUD Paid an Estimated $413 Million for Unnecessary Preforeclosure Claim Interest and Other Costs Due to Lender Servicing Delays
Source: HUD OIG (full report) SUMMARY: We audited the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration’s (FHA) preforeclosure sale claim process based on an internal Office of Inspector General audit suggestion noting that existing regulations may allow excessive preforeclosure claim interest costs. Our audit objective was to determine the amount of unnecessary preforeclosure […]
27 Sep 2018
Fannie Mae: Improved Expense Reimbursement; MI Factor; and More
Source: Fannie Mae Announcement SVC-2018-07: Foreclosure Sale Marketing and Foreclosure Auction Services We are updating our policies in an off-cycle Servicing Guide Announcement by: Adding a new vendor to our Third Party Sale Program; Requiring servicers to use a Fannie Mae-approved vendor for foreclosure sale marketing services in certain jurisdictions (refer to Third Party Sales Foreclosure Bidding Instructionsas an […]
26 Sep 2018
FHFA: Foreclosure Prevention Report – Second Quarter 2018
Second Quarter 2018 Highlights The Enterprises’ Foreclosure Prevention Actions: The Enterprises completed 70,945 foreclosure prevention actions in the second quarter, bringing the total to 4,179,581 since the start of conservatorships in September 2008. Of these actions, 3,491,670 have helped troubled homeowners stay in their homes, including 2,238,770 permanent loan modifications. Twenty-five percent of modifications in […]
26 Sep 2018
FHLMC Guide Bulletin 2018-16: Duty to Serve Affordable Housing Preservation and Rural Housing
Source: Freddie Mac As part of our Duty to Serve plan, we’re announcing new and revised underwriting guidelines to facilitate a secondary market for mortgages that support affordable housing preservation and rural housing. Please review our Single-Family Seller/Servicer Guide (Guide) Bulletin 2018-16 for details on the following: Selling and servicing requirements for our Community Land Trust mortgage offering […]
26 Sep 2018
MHA: HAMP Update: Reporting System Maintenance Outage September 28, 2018 – October 1, 2018
Source: MHA Due to a planned maintenance release, the HAMP Reporting System will be unavailable from 9:00 p.m. ET Friday, September 28, 2018 through 8:00 a.m. ET Monday, October 1, 2018. During this timeframe, HAMP Reporting System response files will not be available and will be sent as soon as the system is available.
25 Sep 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
HUD and Puerto Rico Ink $1.5 Billion Disaster Recovery Grant Agreement
Source: HUD Action paves the path to repair housing, businesses and infrastructure WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson and Puerto Rico’s Governor Ricardo Rosselló today announced the formal execution of a $1.5 billion grant agreement to help citizens in Puerto Rico to recover from Hurricanes Irma and Maria. The […]
21 Sep 2018
FEMA Declared Disaster Montana
FEMA issued an update to a Presidential Major Disaster Declaration for areas in Montana affected by flooding from April 12 to May 6, 2018.
21 Sep 2018
Fannie Mae: Servicing Guide Updates; SMDU Enhancements; and More
Source: Fannie Mae Announcement SVC-2018-06: Servicing Guide updates The Fannie Mae Servicing Guide has been updated with changes that: Transfer payment responsibility from servicers to Fannie Mae for co-op fees and assessments, and property taxes and ground rents, for all properties in Fannie Mae’s REO inventory. Reduce the complexity of Texas Section 50(a)(6) loan modifications under our Cap […]
19 Sep 2018