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.
Industry Update
October 19, 2021
Source: Mortgage Daily News
Both Fannie Mae and Freddie Mac (the GSEs) will be expanding their low-income refinance programs to include those making at or below 100 percent of an area’s median income (AMI). The threshold on the programs is currently at 80 percent of AMI.
For full report, please click the source link above.
Industry Update
October 18, 2021
Source: Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) today announced two measures to sustainably advance the affordability of homeownership for mortgage borrowers across the nation, especially those in underserved communities.
For full report, please click the source link above.
Industry Update
October 18, 2021
Source: Calculated Risk Finance and Economics
The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 34 basis points from 2.62% of servicers’ portfolio volume in the prior week to 2.28% as of October 10, 2021. According to MBA’s estimate, 1.1 million homeowners are in forbearance plans.
For full report, please click the source link above.
