Safeguard Properties

Mortgage Applications Increase in Latest Weekly Survey

Posted on by Ashley Shepherd

Industry Update
August 3, 2022

Source: MBA.org

Mortgage applications increased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 29, 2022.

The Market Composite Index, a measure of mortgage loan application volume, increased 1.2 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 1 percent compared with the previous week.  The Refinance Index increased 2 percent from the previous week and was 82 percent lower than the same week one year ago. The seasonally adjusted Purchase Index increased 1 percent from one week earlier. The unadjusted Purchase Index increased 1 percent compared with the previous week and was 16 percent lower than the same week one year ago.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FEMA Major Disaster Declaration – Kentucky Severe Storms, Flooding, Landslides and Mudslides

Posted on by Safeguard

FEMA Alert
July 29, 2022

FEMA has issued a Major Disaster Declaration for the state of Kentucky to supplement state, tribal and local recovery efforts in areas affected by severe storms, flooding, landslides, and mudslides on July 26, 2022 and continuing.  The following counties have been approved for assistance:

Individual Assistance:

  • Breathitt
  • Clay
  • Knott
  • Letcher
  • Perry

Public Assistance:

  • Breathitt
  • Clay
  • Floyd
  • Johnson
  • Knott
  • Leslie
  • Letcher
  • Magoffin
  • Martin
  • Owsley
  • Perry
  • Pike
  • Wolfe

 

Kentucky Severe Storms, Flooding, Landslides and Mudslides (DR-4663-KY)

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

Additional Disaster Funding Approved for Kentucky Flooding

Map of Affected Areas

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

Flash flooding Causes Water Rescues, Road Closures Across St. Louis Region

Posted on by Ashley Shepherd

Disaster Alert
July 26, 2021

Source: KMOV4

NOTE: This has not yet been declared a FEMA Disaster.

Heavy rains and flash flooding impacted the St. Louis region Tuesday.

At 3:30 a.m., first responders blocked off all lanes of eastbound Interstate 64 near Grand. It reopened just before 7 a.m. Tuesday. On Interstate 55, drivers were diverted off the highway before Potomac. Eastbound Interstate 44 is the third interstate affected. All lanes were closed at Hampton

Just past 6 a.m., the St. Louis Fire Department reported several cars stranded on Interstate 44 near Jefferson Avenue.

Drivers needed to find an alternate route on eastbound Interstate 70 near Natural Bridge and Jennings Station Road. In addition, Interstate 70 was closed in both directions near Mid Rivers Mall in St. Charles.

 

For full report, please click the source link above.

Rising Waters Trap People in Eastern KY; One Death Confirmed in Perry County

Posted on by Safeguard

Disaster Alert
July 28, 2021

Source: Lexington Herald Leader

NOTE: This has not yet been declared a FEMA Disaster.

Several people in Southeastern Kentucky reported being trapped inside their homes early Thursday by rising waters as “catastrophic” flash flooding hit the region.

“We are dealing with a catastrophic and historic flash flooding situation in parts of the region,” WYMT anchor Steve Hensley said on Twitter. “I’ve never seen water come off the hill behind my house like this. There are people trapped and homes and roads flooded. A flash flood emergency continues for several counties. I pray nobody has lost their life. I’m afraid the devastation we will see after daybreak will be significant.”

There is flooding reported in several southeastern Kentucky counties, including Breathitt, Floyd, Perry, Knott, Leslie, Pike and Magoffin.

 

For full report, please click the source link above.

FEMA Major Disaster Declaration – Alaska Landslide

Posted on by Safeguard

FEMA Alert
July 26, 2022

FEMA has issued a Major Disaster Declaration for the state of Alaska to supplement state, tribal and local recovery efforts in areas affected by a landslide on May 7, 2022.  The following counties have been approved for assistance:

Public Assistance:

  • Kenai Peninsula

 

Alaska Landslide (DR-4661-AK)

Map of Affected Areas

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 – Nebraska Severe Storms and Straight-line Winds

Posted on by Safeguard

FEMA Alert
July 27, 2022

FEMA has issued a Major Disaster Declaration for the state of Nebraska to supplement state, tribal and local recovery efforts in areas affected by severe storms and straight-line winds on May 12, 2022.  The following counties have been approved for assistance:

Public Assistance:

  • Antelope
  • Boone
  • Burt
  • Cedar
  • Cuming
  • Custer
  • Dixon
  • Garfield
  • Greeley
  • Holt
  • Knox
  • Logan
  • Pierce
  • Polk
  • Sherman
  • Thurston
  • Valley
  • Wayne
  • Wheeler
  • York

 

Nebraska Severe Storms and Straight-line Winds (DR-4662-NE)

Map of Affected Areas

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

Freddie Mac: Mortgage Serious Delinquency Rate Decreased in June

Posted on by Safeguard

Industry Update
July 26, 2022

Source: Calculated Risk

Freddie Mac reported that the Single-Family serious delinquency rate in June was 0.76%, down from 0.80% May. Freddie’s rate is down year-over-year from 1.86% in June 2021.

Freddie’s serious delinquency rate peaked in February 2010 at 4.20% following the housing bubble and peaked at 3.17% in August 2020 during the pandemic.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Mortgage Applications Decrease in Latest MBA Weekly Survey

Posted on by Safeguard

Industry Update
July 27, 2022

Source: Mortgage Bankers Association

Mortgage applications decreased 1.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 22, 2022.

The Market Composite Index, a measure of mortgage loan application volume, decreased 1.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 2 percent compared with the previous week. The Refinance Index decreased 4 percent from the previous week and was 83 percent lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 1 percent from one week earlier. The unadjusted Purchase Index decreased 0.4 percent compared with the previous week and was 18 percent lower than the same week one year ago.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Ginnie Mae Solicits Feedback on Enhancements to the Title I Manufactured Housing Program

Posted on by Safeguard

Industry Update
July 27, 2022

Source: Ginnie Mae

Ginnie Mae, in coordination with the Federal Housing Administration (FHA), published a Request for Input (RFI) on enhancements to the Title I Manufactured Home Loan Program. The RFI follows publication earlier this year of the Biden-Harris “Housing Supply Action Plan” and the Department of Housing and Urban Development’s FY 2022-2026 Strategic ​Plan, each of which identifies manufactured housing as an important means of increasing the supply of affordable housing.

The RFI seeks input on how both the FHA Title I manufactured housing program and the Ginnie Mae securitization program that supports it can be made more competitive, and references specific program features such as loan limits or lender eligibility requirements. It also seeks commentary on how proposed changes would improve the financing market for manufactured housing.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Black Knight’s First Look: Mortgage Delinquencies and Foreclosure Starts Edge Higher in June

Posted on by Safeguard

Industry Update
July 25, 2022

Source: Cision PR Newswire

Black Knight, Inc. reports the following “first look” at June 2022 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 2.84%

Month-over-month change: 3.31%

Year-over-year change: -35.10%

Total U.S. foreclosure pre-sale inventory rate: 0.36%

Month-over-month change: 8.73%

Year-over-year change: 30.05%

 

For full report, please click the source link above.