Archives For: Featured Resources
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
FEMA Declared Disaster Guam
FEMA issued a Presidential Major Disaster Declaration for areas in the Territory of Guam affected by Typhoon Mangkhut from September 10-11, 2018.
1 Oct 2018
FEMA Declared Disaster New York
FEMA issued a Presidential Major Disaster Declaration for areas in New York affected by severe storms and flooding from August 13-15, 2018.
1 Oct 2018
FEMA Declared Disaster Northern Mariana Islands
FEMA issued a Presidential Major Disaster Declaration for areas in the Commonwealth of the Northern Mariana Islands affected by Typhoon Mangkhut from September 10-11, 2018
29 Sep 2018
FHFA: Statement of Melvin L. Watt
Source: FHFA Chairman Hensarling, Ranking Member Waters, and members of the Committee, thank you for inviting me to testify before the House Financial Services Committee today. Since I last testified before this Committee, Fannie Mae and Freddie Mac (the Enterprises) have marked their 10th anniversary under the conservatorship of the Federal Housing Finance Agency (FHFA). This […]
28 Sep 2018
FHFA: Oversight of Third-Party Provider Relationships
Source: FHFA (AB 2018-08 full bulletin) Purpose This advisory bulletin (AB) provides Federal Housing Finance Agency (FHFA) guidance to Fannie Mae and Freddie Mac, the Federal Home Loan Banks (FHLBanks), and the Office of Finance (OF) (collectively, the regulated entities[1]) on assessing and managing risks associated with third-party provider relationships. For the purposes of this AB, a third-party […]
28 Sep 2018
Hurricane Lane: Monster Storm Strengthens to Category 5, Hawaii County Under Hurricane Warning
Updated 9/27/18: FEMA issued a Presidential Major Disaster Declaration for areas in Hawaii affected by Hurricane Lane from August 22-29, 2018. Link to All Client Alert Updated 8/23/18: Fannie Mae issued a press release titled Fannie Mae Reminds Homeowners and Servicers of Mortgage Assistance Options for Areas Affected by Hurricane Lane. Link to All Client Alert Updated 8/23/18: Freddie […]
27 Sep 2018
FEMA Declared Disaster Hawaii
FEMA issued a Presidential Major Disaster Declaration for areas in Hawaii affected by Hurricane Lane from August 22-29, 2018.
27 Sep 2018
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