Safeguard Properties

HUD Employees Receive Management Excellence Award

Posted on by Safeguard

Investor Update
November 1, 2021

Source: Rismedia.com

A group of U.S. Department of Housing and Urban Development (HUD) employees on Thursday were awarded the 2021 Samuel J. Heyman Service to America Medals (Sammies). Michelle Daniels, Charles D. Eldridge, Ryan E. Jones and the Foster Youth to Independence Team created an innovative program offering housing assistance and social services to young people aging out of foster care to prevent them from becoming homeless and to provide an opportunity for self-sufficiency.

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HUD Allocates More than $2 Billion to Advance Equitable Disaster Recovery, Build Climate Change Resilience

Posted on by Safeguard

Investor Update
November 1, 2021

Source: U.S. Department of Housing and Urban Development

WASHINGTON – The U.S. Department of Housing and Urban Development today announced the allocation of more than $2 billion ($2,040,617,000) in CDBG-Disaster Recovery and CDBG-Mitigation funds appropriated in the continuing resolution, the Extending Government Funding and Delivering Emergency Assistance Act, signed into law on September 30, 2021. These allocations underscore HUD and the Biden-Harris Administration’s commitment to equitably improving the nation’s disaster recovery and building long-term, inclusive resilience to meet the impacts of climate change, particularly for historically marginalized communities.

This allocation is being made to 10 states covering 15 separate major disasters that occurred calendar year 2020

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FHFA Announces Three Staffing Updates

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Investor Update
November 1, 2021

Source: Federal Housing Finance Agency

Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) announced three personnel updates to its executive staff.

Charles Yi will join FHFA on November 1 as its Senior Advisor for Legal Affairs and Policy.

Acting Chief Operating Officer (COO) Katrina Jones has been named the permanent COO.

Daniel E. Coates, Ph.D., will assume the role of Director for the Division of Research and Statistics.

To access full summary, please click the source link above.

FEMA Declared Disaster Connecticut Remnants of Hurricane Ida

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FEMA Alert
October 30, 2021

FEMA issued a Major Disaster Declaration for areas of Connecticut affected by remnants of Hurricane Ida that occurred September 1-2, 2021. The following counties have been approved for assistance:

Individual Assistance
  • Fairfield
  • New Haven
  • New London
  • Mashantucket Pequot Indian Reservation

Public Assistance:

  • Fairfield
  • Litchfield

 

 

Connecticut Remnants of Hurricane Ida (DR-4629)

President Joseph R. Biden, Jr. Approved Major Disaster Declaration for Connecticut

Survivors in New Haven County Can Now Apply for FEMA Assistance

List of Affected Zip Codes

Map of Connecticut 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

FHA Posts Draft HECM Program Sections of Handbook 4000.1

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Industry Update
October 27, 2021

Source:  jdsupra.com

FHA recently posted the draft Home Equity Conversion Mortgage (HECM) Origination through Servicing sections of its Single Family Housing Policy Handbook 4000.1 (Handbook 4000.1) for stakeholder review and feedback. The draft sections are available online for industry feedback through Monday, November 15, 2021.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

New York Community says Flagstar Deal won’t Close Until 2022

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Industry Update
October 27, 2021

Source:  American Banker

New York Community Bancorp no longer expects to complete its pending bank acquisition this year.

The Long Island-based company doesn’t anticipate that state and federal regulators will approve its $2.6 billion deal to buy Flagstar Bancorp in Troy, Michigan, before the end of the year, Chairman and CEO Thomas Cangemi told analysts Wednesday.

Instead, the $57.9 billion-asset bank now expects to finalize the acquisition sometime next year. Announced in April, the deal must receive the thumbs-up from the New York State Department of Financial Services, the Federal Deposit Insurance Corp. and the Federal Reserve.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FHFA Proposes New Disclosure Requirements for Fannie and Freddie

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Industry Update
October 27, 2021

Source:  American Banker

The Federal Housing Finance Agency is proposing public disclosure requirements for Fannie Mae and Freddie Mac that would closely align with international standards for large banks.

Under the proposed requirements, the government-sponsored enterprises would have to disclose risk management, corporate governance and regulatory capital information to market participants on a quarterly basis, in order to provide more transparency into each company’s business practices.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FEMA Declared Disaster Virginia Flooding, Landslides, and Mudslides

Posted on by Safeguard

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:

Public Assistance
  • Buchanan

 

Virginia Flooding, Landslides, and Mudslides (DR-4628)

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

The State with the Most Foreclosures

Posted on by Safeguard

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.

 

 

 

 

 

 

 

 

 

 

 

Delinquencies Continue to Decline but Forbearances Still a Concern

Posted on by Safeguard

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.