FEMA Alert
September 6, 2021
FEMA issued a Disaster Declaration for areas in Nebraska affected by severe storms and straight-line winds that took place July 9-10, 2021. The following counties have been approved for assistance:
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FEMA Declared Disaster Nebraska: ZIP Code List
FEMA Alert Update
September 3, 2021
FEMA issued a Disaster Declaration in areas of New York due to remnants of Hurricane Ida
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New York Remnants of Hurricane Ida (EM-3572-NY)
FEMA Alert Update
September 3, 2021
FEMA issued a Disaster Declaration in all counties of New Jersey due remnants of Hurricane Ida
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New Jersey Remnants of Hurricane Ida (EM-3572-NY)
Industry Update
September 1, 2021
Source: NPR
In a courthouse in Memphis, Tenn., a full docket of cases means tenants are packed into eviction court – as much as social distancing will allow, and then a little more. When each tenant is called up for their case, Judge Phyllis Gardner asks this question: “Are you interested in the rental assistance program?”
For the tenants who show up to their court date, judges here regularly extend cases weeks into the future and nearly push them down the hall to Room 134, where Memphis Area Legal Services attorneys help tenants start applications for rental aid.
One of those attorneys, Freda Turner, stands up in the courtroom to talk about the program.
“If you apply and if you’re approved, we will pay up to 12 months of your back rent plus one month of future rent,” she explains. “We will bring you to zero, and you’ll get a fresh start.”
A stable home is the idea behind the $46 billion in the U.S. Treasury Department’s Emergency Rental Assistance Program. Appropriated by Congress to be distributed by states and localities, the federal aid means that even tenants facing deep rental debt have the chance to stay in their homes.
For full report, please click the source link above.
Industry Update
September 2, 2021
Source: NNY 360
ALBANY — New York’s temporary ban on evictions and foreclosures will continue through the beginning of next year, lawmakers decided Wednesday, arguing the state needs more time to distribute billions of dollars in relief to make tenants, small landlords, business and property owners whole amid the COVID-19 pandemic.
Representatives started hours of questioning and debate late Wednesday afternoon to review two bills to extend the state’s eviction moratorium, barring residential and commercial tenants who could not pay rent due to financial hardships caused by the pandemic, through Jan. 15, 2022.
Legislative leaders have worked to tweak the state law and program since the U.S. Supreme Court struck down a federal moratorium on evictions late last week, ruling the U.S. Centers for Disease Control and Prevention exceeded its authority during the ongoing public health crisis.
For full report, please click the source link above.
Industry Update
September 1, 2021
Source: NBC 10 Boston
Additional Resource: BG Daily News
Boston declared a moratorium on evictions in the city on Tuesday and is working to set up a $5 million fund to prevent foreclosures, officials announced.
The move comes less than a week after the U.S. Supreme Court struck down the federal eviction moratorium, allowing evictions to resume.
“My housing stability agenda protects renters with a new eviction moratorium in the city of Boston,” Mayor Kim Janey said in an announcement video. “The loss of federal eviction protections and the ongoing pandemic has put our most vulnerable neighbors at risk of losing their homes.”
The eviction moratorium goes into effect immediately, temporarily preventing tenants from being kicked out by landlords and property owners, according to an announcement from the city.
For full report, please click the source link above.
Investor Update
August 31, 2021
Source: Freddie Mac
Freddie Mac (OTCQB: FMCC) posted to its website its Monthly Volume Summary for July 2021.
Per Freddie Mac, overall delinquencies for single family loans is 1.74% in July 2021, vs 1.86% last month and 3.12% a year ago.
To access full summary, please click the source link above.
Investor Update
August 31, 2021
Source: Fannie Mae
Per Fannie Mae, overall serious delinquency for conventional single family loans is 1.94% in July 2021, vs 2.08% last month and 3.24% a year ago.
WASHINGTON, DC – Fannie Mae’s (FNMA/OTCQB) July 2021 Monthly Summary is now available. The monthly summary report contains information about Fannie Mae’s monthly and year-to-date activities for our gross mortgage portfolio, mortgage-backed securities and other guarantees, interest rate risk measures, serious delinquency rates, and loan modifications.
To access full announcement, please click the source link above.
Investor Update
August 30, 2021
Source: Fannie Mae
WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) is reminding those impacted by Hurricane Ida 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 following a disaster
• Mortgage servicers are authorized to offer forbearance for up to 90 days – even without establishing contact – if the servicer believes the homeowner 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
○ Foreclosure and other legal proceedings are suspended
• There are a number of options available to potentially help homeowners catch up on missed payments, including Disaster Payment Deferral
In addition, homeowners currently on a COVID-19-related forbearance plan who are subsequently impacted by the storm should contact their mortgage servicer to discuss options.
Fannie Mae also offers help navigating the broader financial effects of a disaster to homeowners with a Fannie Mae-owned mortgage and renters living in Fannie Mae-financed properties through its Disaster Response Network*, including:
• A needs assessment and personalized recovery plan
• Help requesting financial relief from FEMA, insurance, and other sources
• Web resources and ongoing guidance from experienced disaster relief advisors
Homeowners and renters can call 877-833-1746 to access Fannie Mae’s Disaster Response Network™* or other available resources free of charge.
“We urge everyone in the path of the storm to focus on their safety,” said Cyndi Danko, Vice President, Single-Family Risk Management, Fannie Mae. “Fannie Mae is committed to ensuring assistance is available to homeowners and renters in need and we encourage residents impacted by this storm to seek assistance as soon as possible.”
*Operated by Clearpoint Credit Counseling Solutions, a division of MMI, through its Project Porchlight program
To access full announcement, please click the source link above.
FEMA Alert Update
August 30, 2021
FEMA issued an update to an Emergency Declaration for areas in Mississippi affected by Hurricane Ida that began on August 28, 2021. The following counties have been approved for assistance:
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FEMA Declared Disaster Mississippi: ZIP Code List
Mississippi Hurricane Ida (EM-3569 Amendment 001)
58 Mississippi Counties Added to Hurricane Ida Emergency Declaration
FEMA Alert Update
August 29, 2021
FEMA issued a Presidential Major Disaster Declaration for areas in Louisiana affected by Hurricane Ida that began on August 26, 2021. All parishes have been approved for public assistance. The following parishes have been approved for individual assistance:
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FEMA Declared Disaster Louisiana: ZIP Code List
Louisiana Hurricane Ida (DR-4611)
FEMA Alert
August 28, 2021
FEMA issued an Emergency Declaration for areas in Mississippi affected by Hurricane Ida that began on August 28, 2021. The following counties have been approved for assistance:
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Mississippi Hurricane Ida (EM-3569)
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
Disaster Alert
August 29, 2021
Source: CNN
Additional Resource: NOOA
NOTE: This has not yet been declared a FEMA Disaster.
Hurricane Ida became a Category 4 storm early Sunday morning, rapidly intensifying to sustained winds of 150 mph, according to the National Hurricane Center.
It was 60 miles south of the mouth of the Mississippi River, NHC forecasters said in a 7 a.m. ET update, as the storm continued its march toward Louisiana and the Gulf Coast at 15 mph.
The hurricane has quickly increased in intensity since striking Cuba on Friday, threatening to be an “extremely dangerous major hurricane” when it makes its projected landfall along the Louisiana coast Sunday afternoon.
For full report, please click the source link above.
