Mortgage Rates Maintain their Ascent

Industry Update
September 8, 2022

Source:  Freddie Mac

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 5.89 percent.

“Mortgage rates rose again as markets continue to manage the prospect of more aggressive monetary policy due to elevated inflation,” said Sam Khater, Freddie Mac’s Chief Economist. “Not only are mortgage rates rising but the dispersion of rates has increased, suggesting that borrowers can meaningfully benefit from shopping around for a better rate. Our research indicates that borrowers could save an average of $1,500 over the life of a loan by getting one additional rate quote and an average of about $3,000 if they get five quotes.”

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

U.S. Foreclosure Starts Reach Pre-Pandemic Levels Nationwide

Industry Update
September 8, 2022

Source:  ATTOM

ATTOM, a leading curator of real estate data nationwide for land and property data, today released its August 2022 U.S. Foreclosure Market Report, which shows there were a total of 34,501 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 14 percent from a month ago and up 118 percent from a year ago.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Women in Housing: Giving Back to the Community

Safeguard in the News
September 8, 2022

Source: The M Report

On Tuesday, September 20 at Noon Central, the Five Star Institute will recognize and honor the accomplishments of the industry’s women executives during the Five Star Conference and Expo’s Women in Housing Leadership Awards Luncheon, to be held during the annual Five Star Conference and Expo in Dallas.

Each year, nominees are presented across five categories, and that group is then narrowed down further to a final list of finalists. These pioneers are women who are making a difference in the industry and leaving their mark on their colleagues and team members, both within the workplace and beyond.

Today, we focus on the finalists for Corporate Social Responsibility Award, an award recognizing those women executives who are driving charitable initiatives and helping the industry make a positive difference in the lives of many by giving back to their community.

Congratulations to the final five nominees for the 2022 Corporate Social Responsibility Award:

Carrie Tackett

Director of Business Development, Safeguard Properties

What Others Are Saying:

“Carrie Tackett started her career in 2006 at ServiceLink and joined Safeguard Properties in 2010 as an REO Supervisor. She currently holds the position of Director of Business Development. She has been a member of the AMDC since 2019, promoting diversity within the mortgage industry. She is a member of the VFSAC committee, which addresses the needs of veterans in relation to housing and critical services. Carrie also cultivated a relationship between Safeguard Properties and the Military Warrior Support Foundation, where the Safeguard vendor network is used to renovate homes to be gifted to wounded veterans.”

What This Nomination Means to Her:

“Being nominated for the Corporate Social Responsibility Award means that I have been acknowledged as the face of a company who has been recognized for helping communities for many years. It means I am a part of how we successfully build employee engagement and sustainable partnerships through activities such as volunteering, financial contributions, community service, ecofriendly practices, and many creative activities by which Safeguard gives back to our nation’s communities. Partnerships with VFSAC and Military Warriors Support Foundation allow us to directly impact housing opportunities for our nation’s military heroes. I am honored to be considered a leader in all Safeguard social initiatives.”

Darcy Chapman

VP, Strategic Partnerships, Auction.com

What Others Are Saying:

“Darcy Chapman is caring and competitive. In a recent fundraising campaign for Feeding America, she was the highest fundraiser. As a former foster mom, Darcy is aware of the harmful effects of food insecurity. She and her husband also support a local Dallas charity, Lil’ Warriors Foundation. This nonprofit partners with communities to provide financial assistance for families with children battling critical medical challenges. Darcy supports the foundation financially and by volunteering her time. Darcy belongs to Auction.com’s Inclusion, Diversity, Engagement, and Awareness (IDEA) Council and has been a VFSAC A.”

What This Nomination Means to Her:

“To be considered as a candidate for the Corporate Social Responsibility Award is an absolute honor. There are so many women who selflessly give of themselves daily without recognition. Recently, social responsibility has taken on a new meaning for me. I am a new mom to a baby girl and have a 10-year-old stepdaughter. It’s imperative to me that they are not blinded to the bleak realities some others face. I want my children to fully understand that with being fortunate comes the responsibility of good stewardship to those in need.”

Tamara Gifford

Director, Community & External Relations, Ocwen

What Others Are Saying:

“Tamara Gifford leads Ocwen’s corporate social responsibility efforts which provided over $26 million in funding since 2012 to mortgage industry, consumer advocacy, and nonprofit organizations that serve low- to moderate-income families. In addition to this, she manages Ocwen’s Community Advisory Council, a group of 15 diverse industry leaders who provide expertise and guidance. Members include NCRC, UnidosUS, NAACP, and others. She oversees borrower outreach efforts resulting in 100+ virtual outreach events across 29 states since the beginning of the pandemic. In 2021, Ocwen received the External Partner of the Year award from Neighborhood Housing Services of NYC.”

What This Nomination Means to Her:

“It’s an honor to be selected as a finalist for the Five Star Institute’s Women in Housing Corporate Social Responsibility Award. The work my peers and I do is instrumental in helping low- to moderate-income individuals and families. This nomination underlines my lifelong dream to be able to help those who are struggling financially. Ocwen’s commitment to helping homeowners has been the platform to which we’ve built our corporate giving program, focused on those organizations that have the greatest impact. I am proud we’ve been able to provide over $26 million since 2012 to our nonprofit, consumer advocacy, and industry association partners.”

Toniqua Green

VP of Corporate Social Responsibility, Mr. Cooper Group

What Others Are Saying:

“With her 15 years of mortgage experience, Toniqua Green has leveraged her knowledge along with her passion to help others. She is responsible for driving corporate social responsibility initiatives, community outreach, and environmental social governance programs at Mr. Cooper. During her time as VP of Corporate Social Responsibility, Toniqua has elevated engagement within the company and taken on new directives in Diversity, Equity, and Inclusion. She shares her knowledge, enthusiasm, and passion at industry events to encourage others to join in the efforts. Her department has helped with the Homeowner Assistance Funds to assist borrowers after the pandemic. To meet Toniqua Green, is to know she has a passion to help people in their distress. She is known for her tenacious ability to get things done!”

What This Nomination Means to Her:

“I am honored to be nominated for the 2022 Women in Housing Corporate Social Responsibility Award. It is a testament to the great things we are doing at Mr. Cooper Group. Leading the Corporate Social Responsibility team for Mr. Cooper Group was the career path I never knew I needed. I enjoy being able to partner with housing advocates, state housing agencies, and federal housing associations to provide mortgage assistance to homeowners in need, manage our outreach efforts, government-sponsored initiatives, strategic planning of foreclosure prevention, and new homeowner efforts in low- to moderate-income markets and underserved communities. I love that my team and I are able to live out Mr. Cooper’s vision of keeping the dream of homeownership alive. Every day we are looking for ways to help our homeowners and better our communities.”

Dana Stephenson

Consumer Direct Onboarding Manager, Caliber Home Loans, Inc.

What Others Are Saying:

“When it comes to philanthropic events, Dana is the go-to person at Caliber to help organize, plan, and participate. She is a key driver in offering continued support to Caliber’s favorite nonprofits, like Operation Homefront, Patriot Paws, and Gatehouse Women’s Shelter. As a veteran herself, she has played an especially huge part in Caliber’s military-related partnerships and events. Last year, Dana led efforts to provide $250 gift cards to military high schoolers so that they could purchase new clothes and supplies for school, along with over 80 stocked backpacks that she personally handed out on-base with almost $10,000 worth of supplies.”

What This Nomination Means to Her:

“I’m honored to be nominated for this award, but the work I get to do and the opportunity that I’ve been given to use my skills, talents, and resources to serve the community is truly its own reward. This nomination has helped me to reflect upon the opportunities I’ve had and the impact I’ve made in improving the lives of veterans and their families within our communities. This nomination means more to me than recognition—it means that we, as a society, are bringing awareness, accountability, and commitment to various issues impacting the communities in which we live and work.”

 

 

To access the full story, please click the source link above.

FEMA Fire Management Assistance Declaration – California Fairview Fire

FEMA Alert
September 6, 2022

FEMA has issued a Fire Management Assistance Declaration for the state of California to supplement state, tribal and local recovery efforts in the areas affected by the Fairview Fire on September 5, 2022 and continuing.  The following counties have been approved for assistance:

Public Assistance:

  • Riverside

 

California Fairview Fire (FM-5451-CA)

Zip Codes of Affected Areas

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

FEMA Fire Management Assistance Declaration – California Mill Fire

FEMA Alert
September 2, 2022

FEMA has issued a Fire Management Assistance Declaration for the state of California to supplement state, tribal and local recovery efforts in the areas affected by the Mill Fire on September 2, 2022 and continuing.  The following counties have been approved for assistance:

Public Assistance:

  • Siskiyou

 

California Mill Fire (FM-5450-CA)

Zip Codes of Affected Areas

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

FEMA Major Disaster Declaration – Salt River Pima-Maricopa Indian Community Severe Storms

FEMA Alert
September 2, 2022

FEMA has issued a Major Disaster Declaration for the Salt River Pima-Maricopa Indian Community to supplement tribal recovery efforts in areas affected by severe storms from July 17-18, 2022.  The following area has been approved for assistance:

Individual Assistance:

  • Salt River Indian Reservation

Public Assistance:

  • Salt River Indian Reservation

 

Salt River Pima-Maricopa Indian Community Severe Storms (DR-4668)

President Joseph R. Biden, Jr. Approves Major Disaster Declaration for Salt River Pima-Maricopa Indian Community

Map of Affected Areas

List of Affected Zip Codes

Please note:  Only properties located in the Salt River Indian Reservation are approved for assistance.  Properties located within zip code 85256 outside of the Salt River Indian Reservation are NOT approved.

 

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

FEMA Emergency Declaration – Mississippi Water Crisis

FEMA Alert
August 30, 2022

FEMA has issued an Emergency Declaration for the state of Mississippi to supplement state response efforts due to emergency conditions resulting from a water crisis beginning on August 30, 2022 and continuing.  The following counties have been approved for assistance:

Public Assistance:

  • Hinds

 

Mississippi Water Crisis (EM-3582-MS)

President Joseph R. Biden, Jr. Approves Emergency Declaration for Mississippi

Map of Affected Area

Zip Codes of Affected Areas

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

The City of Des Moines is Conducting a Survey of the Condition House in Every Neighborhood

Industry Update
August 24, 2022

Source:  desmoinesregister.com

The city of Des Moines is undertaking an ambitious project to survey the condition of every house in the city.

The Property Condition Survey intends to survey more than 50 neighborhoods and 96,000 houses across the city, officials said.

The initiative employs coordinators to evaluate properties with a focus on safety, according to SuAnn Donovan, the city’s deputy director of Neighborhood Services. As a part of the survey, coordinators will survey the condition of each property’s roof, siding, windows, fence and gates, porch and balconies, and foundation.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

HUD Awards $41.3 Million in Housing Counseling Grants

Industry Update
August 24, 2022

Source:  U.S. Department of Housing and Urban Development

The U.S. Department of Housing and Urban Development’s (HUD) Office of Housing Counseling is announcing today that it has awarded $41.3 million in grants to support the vital services performed by the nation’s housing counselors. The awards include $38.6 million in second-year housing counseling grants to 173 HUD-approved local housing counseling agencies, national and regional organizations, multi-state organizations, and state housing finance agencies who were awarded grants under the September 18, 2021, Office of Housing Counseling two-year Comprehensive Notice of Funding Opportunity (NOFO). The Office also awarded an additional $2.75 million in second-year funding for six HUD-approved housing counseling agencies that received awards under HUD’s November 2, 2021, Office of Housing Counseling Training NOFO.

“Today’s awards provide important funding for housing counseling agencies that are performing crucial services for individuals and families across the nation,” said Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon. “Maintaining and funding a network of quality housing counseling resources through our Office of Housing Counseling is a key piece of achieving HUD’s goals to reduce barriers and promote equity in housing.”

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Vacant and Abandoned Properties in Olympia Now Subject to Registration

Industry Update
August 24, 2022

Source:  thejoltnews.com

The Olympia City Council approved an ordinance establishing a vacant property registration program, a move that will create a database to identify vacant properties and address squatting on these properties by unhoused people.

At the city council meeting last night, Code Enforcement officer JW Mahone gave a brief overview of the ordinance.

According to Mahone, the city is trying to get in contact with the banks and vested owners to make necessary repairs to return properties to productive use.

For full report, please click the source link above.