FEMA Alert
October 26, 2021
FEMA issued a Major Disaster Declaration for areas of Virginia affected by flooding, landslides, and mudslides that occurred August 30-31, 2021. The following counties have been approved for assistance:
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Virginia Flooding, Landslides, and Mudslides (DR-4628)
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
Industry Update
October 26, 2021
Source: 24/7 Wall St.
Foreclosures plagued the real estate market during the Great Recession. Home prices plunged so much in some areas that people lost all their home equity and even faced situations in which the value of their mortgages was higher than the value of their homes. Los Angeles, Phoenix and Las Vegas were hit particularly hard.
For full report, please click the source link above.
Industry Update
October 22, 2021
Source: Mortgage Daily News
The national delinquency rate has fallen below 4.0 percent for the first time since COVID-19 started messing up the world. Black Knight, in its “first look” at September’s mortgage performance data, says the rate in September, 3.91 percent, represents a reduction of more than 41 percent from September of 2020 and is 2.25 percent below the August level. Delinquencies have moved lower in 14 of the last 17 months.
For full report, please click the source link above.
Industry Update
October 21, 2021
Source: JDSupra.com
HUD issued an advanced notice of proposed rulemaking regarding adoption of a new index rate for FHA-insured adjustable rate mortgages (ARMs), as the previously-used London Interbank Offered Rate (LIBOR) is set to be discontinued.
For full report, please click the source link above.
Industry Update
October 25, 2021
Source: Calculated Risk Finance & Economics
Freddie Mac reported that the Single-Family serious delinquency rate in September was 1.46%, down from 1.62% in August. Freddie’s rate is down year-over-year from 3.04% in September 2020.
For full report, please click the source link above.
FEMA Alert
October 24, 2021
FEMA issued a Major Disaster Declaration for areas of Delaware affected by remnants of Hurricane Ida from Sept. 1 – 7, 2021. The following counties have been approved for assistance:
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Delaware Remnants of Hurricane Ida (DR-4627-DE)
Map of Delaware Designated Areas
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
FEMA Alert
October 22, 2021
FEMA issued a Major Disaster Declaration for areas of Mississippi to supplement state, tribal and local recovery efforts affected by Hurricane Ida from Aug. 28-Sept. 1, 2021. The following counties have been approved for assistance:
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Mississippi Hurricane Ida (DR-4626-MS)
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
Industry Update
October 20, 2021
Source: KPVI.com
ATTOM, curator of the nation’s premier property database, today released its third-quarter 2021 Special Coronavirus Report spotlighting county-level housing markets around the United States that are more or less vulnerable to damage from the ongoing Coronavirus pandemic still endangering the U.S. economy.
For full report, please click the source link above.
Industry Update
October 20, 2021
Source: RisMedia.com
As expected, the end of federal protections in September has coincided with a significant uptick in foreclosures, as default notices, scheduled auctions or bank repossessions spiked 34% in Q3 of this year according to a new report from ATTOM Data Solutions®, potentially foreshadowing a difficult winter for homeowners still struggling through the pandemic.
For full report, please click the source link above.
Industry Update
October 19, 2021
Source: Inman.com
Capitalizing on its growing capabilities in mortgage tech, the company behind the New York Stock Exchange is making it easier to track daily fluctuations in mortgage rates and hone in on particular market segments with a new suite of residential mortgage rate indices.
For full report, please click the source link above.
