Page 148 – Safeguard Properties

Robertson Draw Fire North of Clark Explodes: 21 Structures Lost

Posted on June 17, 2021 by Safeguard

Disaster Alert
June 16, 2021

Source: Cody Enterprise

Approximate impacted areas:

Montana

– Belfry (Carbon County,59008)
– Red Lodge (Carbon County, 59068)

NOTE: This has NOT yet been declared a FEMA Major Disaster.

The Robertson Draw Fire north of Clark has expanded to 21,000 acres.

The Custer Gallatin National Forest initially reported the fire on Sunday afternoon, burning eight miles north of Clark and less than one mile inside the Montana border on the eastern face of the Beartooth Range.

Carbon County, Mont. Sheriff Josh McQuillan reported during a public informational meeting Wednesday night that eight major structures and 13 secondary structures or outbuildings were lost in the fire.

On Wednesday morning, Custer Gallatin reported the fire had grown to 21,000 acres and more fire crews and aircraft were responding to the blaze. There are now 200 personnel working on the fire that is occupying nearly 33 square miles.

“Firefighter and public safety are the top priority,” the incident briefing reads. “Efforts will be focused to protect resources at risk including assessing and implementing structure protection needs, implementing back burning efforts and continuing building fireline.”

For full report, please click the source link above.

Fannie Mae: Lender Letter LL-2021-12: Investor Reporting Changes

Posted on June 16, 2021July 28, 2021 by Safeguard

Updated 7/28/21: Fannie Mae announced updates to its Master Servicing Simplification page to help servicers prepare for changes announced in Lender Letter LL-2021-12.

Master Servicing Simplification Page
LL-2021-12
Process Requirements Document

Investor Update
June 16, 2021

Source: Fannie Mae

This Lender Letter provides advance notice of upcoming changes to our investor reporting processes and systems. These changes simplify and streamline servicer reporting and will be introduced in a phased approach beginning Sep. 2021 and continue through 2022.

This Lender Letter contains the following topics:

▪ Reimbursement of gross servicing fee and guaranty fee for mortgage loans with a payment deferral
▪ Elimination of servicer’s advance payment of UPB at foreclosure
▪ Streamline investor reporting with LSDU self-serve capabilities
▪ 2022 cash simplification changes
▪ Guaranty fee relief after four months delinquency

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

Freddie Mac: Guide Bulletin 2021-22: Servicing Updates

Posted on June 16, 2021June 16, 2021 by Safeguard

Investor Update
June 9, 2021

Source: Freddie Mac

This Guide Bulletin announces:

COFI transition

• COFI transition replacement index – February 1, 2022

Third-party mortgage assistance funds

• Clarification on handling third-party mortgage assistance funds

Subsequent Transfer of Servicing

• Updates to the Subsequent Transfer of Servicing requirements – October 1, 2021

Form 479A

Updates to Form 479A and clarification regarding requirements and processing time

Extinguishment of rights in Collateral

• Clarification on extinguishment of rights in Collateral related to Conveyance or Financing

Depository account monitoring

• Depository account monitoring clarification

Additional Guide updates and reminders

• Further updates as described in the Additional Guide updates and reminders section of this Bulletin

EFFECTIVE DATE

All of the changes announced in this Bulletin are effective immediately unless otherwise noted.

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

FHFA: 2020 Report to Congress

Posted on June 16, 2021June 16, 2021 by Safeguard

Investor Update
June 15, 2021

Source: FHFA

Highlights FHFA’s actions taken during the pandemic to keep families in their homes

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its annual Report to Congress (the Report), covering calendar year 2020. The report highlights FHFA’s historic policy response that helped borrowers and renters stay safe in their homes while also ensuring mortgage markets continued to function. Additionally, the Report addresses several topics related to the fulfillment of FHFA’s statutory responsibilities and the financial condition of FHFA’s regulated entities: Fannie Mae and Freddie Mac (the Enterprises) and the Federal Home Loan Banks (FHLBanks). Those topics include the finalization of a regulatory capital framework for the Enterprises and the reorganization of FHFA. The Report makes recommendations to Congress about potential legislation to enhance the safety and soundness of the regulated entities and move our nation toward a stronger, more resilient housing finance system.

“2020 was a difficult year for our country. The outbreak of the COVID-19 pandemic upended the lives of millions of American homeowners and renters. I am proud to report that FHFA rose to the historic challenges of COVID-19, while continuing to fulfill our Agency’s long-term statutory responsibilities,” said Director Calabria.

The report meets the requirements of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008. It provides information about FHFA’s 2020 examinations of the Enterprises and the FHLBank System. The report also describes FHFA’s actions as conservator of the Enterprises.

Link to the 2020 Report to Congress

Contacts:

Media: Adam Russell Adam.Russell@FHFA.gov / Raffi Williams Raffi.Williams@FHFA.gov

HUD: Adrianne Todman Sworn in as Deputy Secretary

Posted on June 15, 2021 by Safeguard

Investor Update
June 14, 2021

Source: HUD

WASHINGTON – Today, Adrianne Todman was officially sworn in as the twelfth Deputy Secretary of Housing and Urban Development.

HUD Secretary Marcia L. Fudge issued the oath of office to Deputy Secretary Todman during a ceremony at HUD’s headquarters that was livestreamed to the department’s staff. Deputy Secretary Todman was confirmed by the Senate by unanimous consent on June 10.

Deputy Secretary Todman most recently served as the CEO of the National Association of Housing and Redevelopment Officials (NAHRO). Before joining NAHRO in 2017, she served as the Executive Director of the District of Columbia Housing Authority (DCHA) and served in several career positions at HUD. Click here for a full bio.

Below find video remarks delivered by Deputy Secretary Todman.

You may watch the remarks here.

Video remarks as delivered:

I still remember the first trip I made to our nation’s capital when I was a teenager. I felt inspired by the potential of the American government to help improve the lives of people in every corner of our country. I returned home to the U.S. Virgin Islands determined to devote my life to public service.

Since that trip, I have spent my career working to expand opportunity for people -in the halls of Congress, at federal and local housing agencies, and as an advocate for organizations that advance affordable housing and community development.

Throughout my journey, I have made it my mission to help restore and revitalize our nation’s public housing; to help build more affordable homes in our country; to help house people who are homeless and to help families achieve their dreams.

At every step along the way, I have worked to safeguard the public’s trust-and to deliver support to people in need with efficiency and with equity.

My name is Adrianne Todman-and I now have the great honor of serving as the Deputy Secretary of the United States Department of Housing and Urban Development.

This will mark my second time serving at HUD-and I am thrilled to rejoin our amazing team and work alongside Secretary Fudge to build a stronger, more secure, and more inclusive America.

Today, I am filled with the same sense of excitement, inspiration, and hope that I experienced during my first trip to Washington. And I can’t wait to start working on behalf of the people and communities that HUD serves!

Pack Creek Fire Destroys Four Utah Homes, Threatens 70 Others

Posted on June 14, 2021 by Ashley Shepherd

Disaster Alert
June 14, 2021

Source: The Salt Lake Tribune

Approximate impacted areas:

Utah

-Pack Creek Fire
Pack Creek Area (San Juan County, 84532)

NOTE: This has NOT yet been declared a FEMA Major Disaster.

After lifting evacuation orders on Sunday morning, the San Juan County sheriff again imposed mandatory orders prompted by the Pack Creek Fire on Sunday evening.

Sheriff Jason Torgerson issued the order for all private property in and around the area east of Geyser Pass in the LaSal Mountains, from Blue Lake through the Dark Canyon area.

“We have been notified that the Pack Creek Fire has breached the Geyser Pass road and therefore, for the safety of all citizens, we ask that you evacuate at this time while it is safe to do so,” Torgerson posed on Facebook. “Failure to evacuate at this time is at your own risk and your safety cannot be guaranteed.”

About 70 residences and 70 other buildings are threatened by the fire.

According to the U.S. Forest Service, because of “extreme hot and dry conditions” in the area, the fire grew “significantly” on Sunday and crossed the Geyser Pass Road into the Oowah Lake area. Firefighters believe it will “continue moving east into the geyser pass area in between Haystack Mountain and Mount Mellenthin.”

The Pack Creek Fire was last estimated at more than 5,400 acres with 6% containment, and those numbers are expected to be updated on Monday morning.

For full report, please click the source link above.

California Flats Fire Destroys Homes Near Pinyon Crest

Posted on June 14, 2021 by Safeguard

Disaster Alert
June 14, 2021

Source: CBS 2

Approximate impacted areas:

California

-Pinyon Flats (Riverside County, 93553)
*Homes destroyed/damaged near Pinyon Crest (Riverside County, 92561)

NOTE: This has NOT yet been declared a FEMA Major Disaster.

YUCAIPA (CBSLA) – As temperatures soared Sunday, air and ground fire crews battled the 400-acre Flats Fire in the Santa Rosa Mountains off of Highway 74 which has forced hundreds of evacuations.

The Flats Fire has burned 400 acres and was 30% contained as of Monday morning.

“Pretty good, pretty good sized fire for this time of year,” Lisa Cox, a San Bernardino National Forest Spokesperson, said.

First reports came in just after 11 a.m. Sunday morning of a fire west of the Pinyon Flat campground in the Santa Rosa and San Jacinto Mountains National Monument.

The fire spread quickly prompting mandatory evacuation orders for residents of more than 100 homes in Pinyon Crest. Officials also closed Highway 74 Palowet and Ribbonwood drives. Evacuation warnings were also issued for Pinyon and Alpine Village, authorities said.

So far, the blaze is about 10% contained. It has destroyed two homes and damaged three others. Three outbuildings were also damaged. At least one firefighter has been injured and transported for medical evaluation.

Around 400 firefighters fought the flames today. Nightshift crews have now arrived and will continue to work on containment.

For full report, please click the source link above.

Arizona Wildfire Burns at Least Five Structures, Including Two Homes

Posted on June 10, 2021 by Safeguard

Disaster Alert
June 9, 2021

Source: The Weather Channel

Additional Resources:

Office of Arizona Governor Doug Ducey
Declaration of Emergency (Telegraph Fire)
Associated County ZIP Code List

Approximate impacted areas:

Arizona

-Globe (Gila County, 85501, 85502)
– Miami (Gila County, 85539)
– Pine (Gila County, 85544)
-Top-Of-The-World (Gila, Pinal Counties, 85539)

NOTE: This has NOT yet been declared a FEMA Major Disaster.

At a Glance

The Telegraph Fire has burned more than 126 square miles and continues to spread.
Two homes and three outbuildings have been destroyed.
Arizona, like much of the West, is experiencing drought.
After a long, strenuous day fighting back flames, Arizona firefighters finally stopped the forward progress on a fire that forced the evacuation of an entire community and destroyed multiple structures.

A wildfire that has burned nearly 120 square miles in central Arizona has destroyed two homes and three outbuildings as it continues to spread.

As firefighters continue to battle the Telegraph Fire near the town of Superior, Arizona, they’re running into problems with the public entering closed areas and their own equipment creating sparks in the extremely dry brush.

“Even our own fire equipment is starting fires,” Dean McAlister, a fire information officer, said during a briefing Tuesday night. “The blades and the tracks of the (heavy equipment) sparking against the fuels have actually created some fires along the fire line.”

Crews have been able to extinguish the small fires as they happen, CNN reported. Because of the possibility of sparking new fires, officials pleaded with residents and others not to drive into closed areas.

For full report, please click the source link above.

Fannie Mae: SVC-2021-03: Servicing Guide Updates

Posted on June 9, 2021June 9, 2021 by Safeguard

Investor Update
June 9, 2021

Source: Fannie Mae

The Servicing Guide has been updated to include changes to the following:

▪ Verification of borrower’s income and assets*: provides an alternative means of verifying borrower income and asset
information through the use of third-party vendors.

▪ Post-forbearance disaster payment deferral: clarifies when the borrower must make their full monthly contractual
payment during the month of solicitation for a disaster payment deferral.

▪ Loss mitigation valuations*: streamlines method to obtain loss mitigation valuation information into a single platform.

▪ IRS reporting: updates our requirements for filing IRS forms.

▪ Miscellaneous updates:
o notifies servicers of updates to the Fannie Mae Software Subscription Agreement Master Terms and Conditions, and
o clarifies verbiage related to hazard loss disbursements.

*Policy change not applicable to reverse mortgage loans.

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

Heavy Rain Floods Homes in Mississippi, Arkansas

Posted on June 9, 2021June 9, 2021 by Safeguard

Disaster Alert
June 9, 2021

Source: CNN

Additional Resources:

FEMA (Mississippi Flooding Summary 6/9/21)
The Weather Channel (Heavy Rainfall Floods Communities in Mississippi, Arkansas)

Approximate locations experiencing residential flooding:

Arkansas

– Dumas (Desha County, 71639)
– Mitchellville (Desha County, 71639)

Mississippi

– Mound Bayou (Bolivar County, 38762)
– Rosedale (Bolivar County, 38769)
– Shelby (Bolivar County, 38774)
– Tutwiler (Tallahatchie County, 38963)

NOTE: This is NOT currently a FEMA Declared Disaster.

(CNN) — It’s been nothing short of a deluge across the Mid-South in the last 48 hours, and nothing is changing Wednesday.

“No sugar coating the short term forecast,” said the National Weather Service (NWS) office in Little Rock, Arkansas.

The highest risk for excessive rainfall is forecast for the second day in a row. Then another round of rain is likely Thursday before a drying trend kicks in Friday.

“Rainfall and flash flooding will continue to be a major concern, following an extreme day of rainfall across the southeast Delta region,” the NWS said of the Wednesday forecast.

Another 2 to 5 inches of rain is forecast Wednesday for parts of eastern Arkansas and northern Mississippi, where the ground is already saturated. And more rainfall could mean flash flooding.

For full report, please click the source link above.