Safeguard Properties

FEMA Major Disaster Declaration – Hawaii Severe Storms, Flooding, and Landslides

Posted on by Safeguard

FEMA Alert
February 18, 2022

FEMA has issued a Major Disaster Declaration for the state of Hawaii to supplement state, tribal and local recovery efforts in the areas affected by severe storms, flooding and landslides from December 5-10, 2021.  The following counties have been approved for assistance:

Public Assistance:

  • Honolulu
  • Maui

 

Hawaii Severe Storms, Flooding, Landslides (DR-4639-HI)

President Joseph R. Biden, Jr. Approves Major Declaration for Hawaii

Zip Codes of Affected Areas

Map 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

Cook County Land Bank Authority Program Celebrates 1000th Renovated Home

Posted on by Safeguard

Industry Update
February 16, 2022

Source: ABC7 Chicago

Cook County officials celebrated a milestone Wednesday morning on the West Side with the 1,000th renovated home as part of a county-run program.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Acting Comptroller of the Currency Launches Project REACh Efforts in Detroit

Posted on by Safeguard

Industry Update
February 15, 2022

Source: Office of the Comptroller of the Currency

Acting Comptroller of the Currency Michael J. Hsu joined civic leaders, community advocates, and bankers to launch Detroit REACh.

Project REACh, the Roundtable for Economic Access and Change, brings together leaders from the banking industry, civil rights organizations, business, and technology to identify and reduce barriers that prevent full, equal, and fair participation in the nation’s economy. Detroit REACh is the agency’s third regional effort.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Reading Administration wants to Charge Fee for Vacant Properties

Posted on by Safeguard

Industry Update
February 14, 2022

Source: wfmz.com

Reading City Council heard a proposed plan Monday from the city administration that recommends all vacant homes be charged a registration fee.

Frank Denbowski, Mayor Eddie Moran’s chief of staff, said the city was looking at a 2% vacant property tax, but explained the city would have to charge the fee through a registration process since state law does not permit a city to implement such a tax.

Denbowski said council had a similar draft ordinance in 2008 which never went anywhere.

“It’s simply to protect the public health, safety and general welfare of our city,” Denbowski said. “The goal here is to encourage the restoration of properties to productive use. By having this vacant property registration process, we’d be able to identify vacant properties and have a system in place to try to encourage the restoration to make sure that they are safe buildings.”

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Freddie Mac Announces 2021 SHARP Award Winners

Posted on by Safeguard

Industry Update
February 15, 2022

Source:  Freddie Mac

Freddie Mac announced the nine winners of its 2021 Servicer Honors and Rewards Program (SHARP)SM, which annually recognizes mortgage loan Servicers for quality servicing, risk management and sustaining homeownership resulting in superior portfolio performance. The winners represent outstanding customer service and positive efforts to prevent and alleviate loan delinquencies.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Ginnie Mae Streamlining Documentation Requirements

Posted on by Safeguard

Industry Update
February 14, 2022

Source:  Valuation Review

In an All-Participants Memorandum, Ginnie Mae issued streamlined documentation requirements for Federal Housing Administration advance loan modifications. The change is due in part to the expansion of digital signature usage on documents in November and the expansion of mortgage-backed securities pools of extended-term mortgages.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FHFA Requests Input on its Strategic Plan

Posted on by Safeguard

Industry Update
February 14, 2022

Source:  The M Report

The Federal Housing Finance Agency has released a draft of its strategic plan for 2022-2026 and is requesting input on the plan from the general public. 

The plan is meant to be a “transparent roadmap” that will guide the agency in its role as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac. 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Foreclosure Filings Spike After CFPB Restrictions Expire

Posted on by Safeguard

Industry Update
February 11, 2022

Source:  National Mortgage Professional

ATTOM’s January 2022 U.S. Foreclosure Market Report shows foreclosure filings were up 29% from a month ago and 139% from a year ago, with a total of 23,204 U.S. properties with foreclosure filings.

Lenders repossessed 4,784 U.S. properties through completed foreclosures (REOs) in January 2022, up 57% from last month and up 235% from last year, marking the seventh consecutive month with an annual increase in completed foreclosures.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

MBA Says Delinquencies Fall Below Historic Levels

Posted on by Safeguard

Industry Update
February 10, 2022

Source:  Mortgage Daily News

A major report on loan performance has confirmed that homeowners are recovering rapidly from the pandemic.  The National Delinquency Survey from the Mortgage Bankers Association put the nationwide rate of non-current mortgage payments at 4.65 percent of outstanding loans at the end of the fourth quarter of 2021. This is down 23 basis points from the third quarter and 208 bps lower than a year earlier. The figure includes delinquent loans that are in forbearance programs.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

NJ Bill would Turn Foreclosed Homes into Affordable Housing

Posted on by Safeguard

Industry Update
February 4, 2022

Source:  northjersey.com

To ensure that housing nonprofits purchasing foreclosed homes commit to transforming blighted structures into affordable housing, lawmakers amended a foreclosure bill in committee Thursday.

Under A793, New Jersey would make it easier for family members or low-income buyers to purchase foreclosed homes by removing barriers in sheriffs sales. Legislators advanced the bill out of the Assembly Community Development and Affairs Committee, a month after the bill died last session without a full chamber vote.

For full report, please click the source link above.