Safeguard Properties

FEMA Declared Fire Management Assistance – Oklahoma Cobb Fire

Posted on by Safeguard

FEMA Alert
December 15, 2021

FEMA issued a Fire Management Assistance Declaration for areas of Oklahoma affected by wildfires on December 15, 2021 and continuing.  The following counties have been approved for assistance:

Public Assistance:

  • Texas

 

Oklahoma Cobb Fire (FM-5421-OK)

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

FEMA Declared Fire Management Assistance – Texas County Line Fire

Posted on by Safeguard

FEMA Alert
December 10, 2021

FEMA issued a Fire Management Assistance Declaration for areas of Texas affected by wildfires on December 10, 2021 and continuing.  The following counties have been approved for assistance:

Public Assistance:

  • Wichita

Texas County Line Fire (FM-5420-TX)

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

FHFA Proposes Capital Planning Rule for Fannie Mae and Freddie Mac

Posted on by Safeguard

Industry Update
December 16, 2021

Source: MarketScreener

The Federal Housing Finance Agency (FHFA) today issued a proposed rule that would require Fannie Mae and Freddie Mac to develop, maintain, and submit annual capital plans to FHFA. This requirement helps protect taxpayers by ensuring that the Enterprises properly assess their risks and maintain the appropriate level of capital.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Alanna McCargo Named Ginnie Mae President

Posted on by Safeguard

Industry Update
December 16, 2021

Source: RisMedia

On Tuesday, Dec. 14, the U.S. Senate confirmed Alanna McCargo as president of Ginnie Mae—a position that hasn’t been permanently filled since 2017.

Robert D. Broeksmit, CMB, president and CEO of the Mortgage Bankers Association (MBA), released the following statement in response to the news:

“MBA applauds the confirmation of Alanna McCargo to be president of Ginnie Mae. Her experience, knowledge of housing issues and strong working relationships with a wide array of stakeholders will serve her well in this position.”

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Thompson Nominated to Serve Full Term as Director of FHFA

Posted on by Safeguard

Industry Update
December 15, 2021

Source: cutoday.info

President Biden has nominated Sandra Thompson to serve a full five-year term as director of the Federal Housing Finance Agency (FHFA).

Thompson was appointed as acting director of the FHFA in June.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

President Joseph R. Biden, Jr. Amends Kentucky Major Disaster Declaration

Posted on by Safeguard

Industry Update
December 15, 2021

Source: FEMA Press Release

FEMA Administrator Deanne Criswell announced today that President Joseph R. Biden, Jr. made additional federal emergency aid available to the Commonwealth of Kentucky in the areas affected by severe storms, straight-line winds, flooding and tornadoes beginning Dec. 10, 2021.

This assistance allows for funding at 100% federal cost share for debris removal and emergency protective measures, including direct federal assistance, for a 30-day period from the date of declaration.

Under the President’s major disaster declaration issued on Dec. 12, federal funding was made available at a 75% federal cost-share basis for emergency protective measures, hazard mitigation and assistance to affected individuals.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Proposed New York Bill Requiring Maintenance of Vacant and Abandoned Properties Set to Become Law

Posted on by Safeguard

Legislation Update
December 9, 2021

Source: New York State Senate (S1579 full bill text)

New York Senate Bill 1579, that requires a claimant in a mortgage foreclosure action to maintain the subject property, has been passed by both the Senate and Assembly and has been delivered to the Governor’s desk.  With passage of the bill, New York will require that, for a property where a foreclosure action has commenced, servicers must maintain the property when it is vacant, becomes vacant, or is abandoned by the mortgagor but occupied by a tenant.  If signed by the Governor, the bill becomes law on December 19, 2021.

 

For full bill text, please click the source link above.

Proposed Hawaii Bill Aims to Reduce the Potential Hazards Associated with Vacant and Abandoned Properties

Posted on by Safeguard

Legislation Update
December 10, 2021

Source: Hawaii State Legislature (SB818 full bill text)

Proposed Senate Bill 818 aims to require each county in Hawaii to establish an expedited procedure for approvals of demolition permits for vacant residential properties.  The bill also requests allowance to the department of taxation to seek the nonjudicial foreclosure sale of vacant and abandoned residential property with an outstanding recorded tax lien at any time after establishing vacancy and abandonment.  The bill is an effort by the state to prevent vacant and abandoned properties from becoming a public safety hazard and imposing significant costs to the community.

 

For full bill text, please click the source link above.

Fannie Mae Reminds Homeowners, Renters, and Mortgage Servicers of Assistance Options Following Recent Tornadoes in Central and Southern States

Posted on by Safeguard

Industry Update
December 14, 2021

Source: Fannie Mae

Fannie Mae is reminding homeowners and renters impacted by the recent tornadoes in communities across Kentucky, Missouri, Illinois, Tennessee, Arkansas, and Mississippi of available mortgage assistance and disaster relief options. Under Fannie Mae’s guidelines for single-family mortgages impacted by a natural disaster:

  • Homeowners may request mortgage assistance by contacting their mortgage servicer (the company listed on their mortgage statement) following a disaster.
  • Mortgage servicers are authorized to offer forbearance for up to 90 days – even without establishing contact with the homeowner – if the servicer believes the home was affected by the disaster.
  • Homeowners affected by a disaster are often eligible to reduce or suspend their mortgage payments for up to 12 months. During this temporary payment break, homeowners will not incur late fees and foreclosure and other legal proceedings are suspended.
  • Following the payment break, there are a number of options available to potentially help homeowners catch up on missed payments, including Disaster Payment Deferral.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Torrington’s Responsive Blight Enforcement is Working, Mayor Says

Posted on by Safeguard

Industry Update
December 12, 2021

Source: westport-news.com

Since 2019, the city’s plan to combat blight has taken off, thanks to a responsive staff and more enforcement, officials said.

Mayor Elinor Carbone said the success of the program largely was due to the efforts of Blight Enforcement Officer Ashley Clement.

“Ashley’s been doing yeoman’s work,” she said. “She follows up on complaints, and if she determines there’s a violation, the property owners are notified that they have two weeks to be in compliance.”

Each case is reviewed by the Blight Task Force Committee, membership of which includes Carbone, City Counsel Vic Muschell, the fire marshal, a representative from the Police Department and land use office, and any others whose expertise might be needed, according to the mayor.

“For this committee, the goal is to get people to come into compliance,” Carbone said. “It’s not to collect fines; it’s not to make money. The win in Ashley’s report is that since 2019, she has accomplished compliance with 123 complaints. If she isn’t able to do that, fines are collected, and she has collected $109,000 since she started.”

For full report, please click the source link above.