Safeguard Properties

FEMA Emergency Declaration – Puerto Rico Tropical Storm Fiona

Posted on by Safeguard

FEMA Alert
September 17, 2022

FEMA has issued an Emergency Declaration for the Commonwealth of Puerto Rico to supplement local government response efforts to emergency conditions resulting from then Tropical Storm Fiona, now a Hurricane, September 17, 2022 and continuing.  The following area has been approved for assistance:

Public Assistance:

  • Adjuntas
  • Aguada
  • Aguadilla
  • Aguas Buenas
  • Aibonito
  • Anasco
  • Arecibo
  • Arroyo
  • Barceloneta
  • Barranquitas
  • Bayamon
  • Cabo Rojo
  • Caguas
  • Camuy
  • Canovanas
  • Carolina
  • Catano
  • Cayey
  • Ceiba
  • Ciales
  • Cidra
  • Coamo
  • Comerio
  • Corozal
  • Culebra
  • Dorado
  • Fajardo
  • Florida
  • Guanica
  • Guayama
  • Guayanilla
  • Guaynabo
  • Gurabo
  • Hatillo
  • Hormigueros
  • Humacao
  • Isabel
  • Jayuya
  • Juana Diaz
  • Juncos
  • Lajas
  • Lares
  • Las Marias
  • Las Peidras
  • Loiza
  • Luquillo
  • Manati
  • Maricao
  • Maunabo
  • Mayaguez
  • Moca
  • Morovis
  • Naguabo
  • Naranjito
  • Orocovis
  • Patillas
  • Penuelas
  • Ponce
  • Quebradillas
  • Rincon
  • Rio Grande
  • Sabana Grande
  • Salinas
  • San German
  • San Juan
  • San Lorenzo
  • San Sebastian
  • Santa Isabel
  • Toa Alta
  • Toa Baja
  • Trujillo Alta
  • Utuado
  • Vega Alta
  • Vega Baja
  • Viegues
  • Villalba
  • Yabucoa
  • Yauco

 

Puerto Rico Tropical Storm Fiona (EM-3583-PR)

President Joseph R. Biden, Jr. Approves Emergency Declaration for Puerto Rico

Map of Affected Areas

List of Affected Zip Codes

 

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

Puerto Rico Suffers Total Black Out as Hurricane Fiona Brings Threat of Flooding, Mudslides

Posted on by Safeguard

Disaster Alert
September 18, 2022

Source:  CNN

Power has gone out across all of the US territory of Puerto Rico on Sunday, according to PowerOutage.us, as Hurricane Fiona bears down on the islands, which are already grappling with the threat of flooding and mudslides stemming from the Category 1 storm.

“Puerto Rico is 100% without power due to a transmission grid failure from Hurricane Fiona,” the website said.

Gov. Pedro Pierluisi confirmed the outage in a tweet, noting the entire electric system was out of service and officials have activated the proper protocols to work to restore power.

The blackout – which followed hours of progressively worsening power outages – comes five years after Puerto Rico’s power grid was devastated by Hurricane Maria in September 2017, leaving many residents without electricity for months. But officials have stressed it won’t be like last time: Not long before the lights went out, Abner Gomez, head of public safety and crisis management at LUMA Energy, which operates Puerto Rico’s power grid, said utility authorities plan to repair and restore electricity with the help of local government agencies.

 

For full report, please click the source link above.

 

Additional Resources:

Zip Codes of Potentially Impacted Areas

FEMA Major Disaster Declaration – American Samoa High Surf, High Winds, and Flooding

Posted on by Safeguard

FEMA Alert
September 15, 2022

FEMA has issued a Major Disaster Declaration for the American Samoa territory to supplement territorial and local recovery efforts in areas affected by high surf, high winds, and flooding from July 12-15, 2022.  The following area has been approved for assistance:

Public Assistance:

  • Statewide

 

American Samoa High Surf, High Winds, and Flooding (DR-4669-AS)

President Joseph R. Biden, Jr. Approves Major Disaster Declaration for American Samoa

Map of Affected Areas

List of Affected Zip Codes

 

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

U.S. Mortgage Interest Rates Top 6% for the First Time Since 2008

Posted on by Safeguard

Industry Update
September 14, 2022

Source: reuters.com

The average interest rate on the most popular U.S. home loan rose above 6% for the first time since 2008 and is now more than double the level it was one year ago, Mortgage Bankers Association (MBA) data showed on Wednesday.

Rising mortgage rates are increasingly weighing on the interest-rate sensitive housing sector as the Federal Reserve pushes on with aggressively lifting borrowing costs in order to tame high inflation. The central bank has raised its benchmark overnight lending rate by 225 basis points since March.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

OCC Reports Improvement in Overall Mortgage Performance

Posted on by Safeguard

Industry Update
September 15, 2022

Source: Office of the Comptroller of the Currency

The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system improved during the second quarter of 2022.

The OCC Mortgage Metrics Report, Second Quarter 2022 showed that 97 percent of mortgages included in the report were current and performing at the end of the quarter, compared to 95 percent a year earlier.

The percentage of seriously delinquent mortgages – mortgages that are 60 or more days past due and all mortgages held by bankrupt borrowers whose payments are 30 or more days past due – was 1.5 percent in the second quarter of 2022, compared to 1.8 percent in the prior quarter and 3.8 percent a year ago.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FEMA Fire Management Assistance Declaration – Oregon Milo Mciver Fire

Posted on by Safeguard

FEMA Alert
September 10, 2022

FEMA has issued a Fire Management Assistance Declaration for the state of Oregon to supplement state, tribal and local recovery efforts in the areas affected by the Milo Mciver Fire on September 10, 2022 and continuing.  The following counties have been approved for assistance:

Public Assistance:

  • Clackamas

 

Oregon Milo Mciver Fire (FM-5454-OR)

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 – Washington Bolt Creek Fire

Posted on by Safeguard

FEMA Alert
September 10, 2022

FEMA has issued a Fire Management Assistance Declaration for the state of Washington to supplement state, tribal and local recovery efforts in the areas affected by the Bolt Creek Fire on September 10, 2022 and continuing.  The following counties have been approved for assistance:

Public Assistance:

  • King
  • Snohomish

 

Washington Bolt Creek Fire (FM-5455-WA)

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

Bipartisan Bill Would Expand Land Banks, Increase Economic Development

Posted on by Safeguard

Industry Update
September 8, 2022

Source:  dankildee.house.gov

Congressman Dan Kildee, Chief Deputy Whip of the House Democratic Caucus, and Congressman Drew Ferguson (GA-03), Chief Deputy Whip of the House Republican Conference, today introduced bipartisan legislation to help strengthen neighborhoods, reduce crime and clean up blighted properties by expanding resources for land banks in communities across America.

Land banks are powerful tools to address blighted, vacant and abandoned properties and bring greater economic investment to communities. The National Land Bank Network Act would create a national network to provide resources, technical assistance and grants to help land banks nationwide implement best practices. This network would also help communities create their own land banks.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

City Council Working with Code Enforcement to Fight the Blight Faster in New Orleans Neighborhoods

Posted on by Safeguard

Industry Update
September 8, 2022

Source:  wgno.com

17 years after Hurricane Katrina and abandoned properties continue to be an issue throughout New Orleans. Now the City Council is planning to fight the blight by strengthening code enforcement regulations.

“We had a win yesterday on Laurel Street. A property that had been sitting blighted for 17 years was demolished,” Councilmember for District B Lesli Harris said.

This week neighbors in the Irish Channel felt victorious when this blighted home on Laurel Street got demolished, but at a “Quality of Life” meeting Councilmembers say more work needs to be done to fight the blight and beef up Code Enforcement regulations to speed up the process.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Land Bank has Demolished 8,000 Properties in Flint Over the Past 18 Years

Posted on by Safeguard

Industry Update
September 7, 2022

Source:  nbc25news.com

Blight continues to be an issue that residents and officials in Flint are concerned about.

The Genesee County Land Bank says that since 2004, approximately 8,000 properties have been demolished in the City of Flint alone, but there is still work to be done.

According to the Beyond Blight 2022 Partnership between the City and the Genesee County Land Bank, there are nearly 8,500 residential properties that are vacant and/or blighted.

This is one-quarter of all residential properties in the city.

For full report, please click the source link above.