Page 162 – Safeguard Properties

FEMA Declared Disaster Washington Wildfires and Straight-Line Winds

Posted on February 4, 2021March 22, 2021 by Safeguard

FEMA Alert Update
March 19, 2021

FEMA issued an update to a Presidential Major Disaster Declaration for areas in Washington affected by wildfires and straight-line winds that took place September 1-19, 2020. The following county has been approved for assistance:

Public Assistance

Ferry

Washington Wildfires and Straight-Line Winds (DR-4584 Amendment 1)

FEMA Declared Disaster Washington: ZIP Code List

FEMA Alert
February 4, 2021

FEMA issued a Presidential Major Disaster Declaration for areas in Washington affected by wildfires and straight-line winds that took place September 1-19, 2020. The following counties have been approved for assistance:

Public Assistance

Douglas
Franklin
Kittitas
Lincoln
Okanogan
Pend Oreille
Skamania
Whitman
Yakima

Washington Wildfires and Straight-Line Winds (DR-4584)

FEMA Declared Disaster Washington: ZIP Code List

Please be advised of the following tribal areas eligible for Public Assistance:

Confederated Tribes of the Colville Reservation (Okanogan/Ferry counties, 99155)

Confederated Tribes and Bands of the Yakama Nation (Yakima, Klickitat Counties, 98619, 98901, 98932, 98933, 98935, 98948, 98951, 98952)

NOTE: Tribal area ZIP codes are approximate and may not be complete.

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

Winter Storm Orlena Causes Major Flooding, Damages Homes

Posted on February 4, 2021February 4, 2021 by Safeguard

Disaster Alert
February 3, 2021

Source: The Weather Channel

Additional Resource:

Previous Reporting (California Flooding, Mudslides)

Approximate location (according to media outlets) sustaining structural damage:

Massachusetts

– Sandwich (Barnstable County, 02563)
*Severe home damage reported on Salt Marsh Road (addresses: 100, 112, 114)

Michigan

– Algonac (St. Clair County, 48001)
– East China Township (St. Clair County, 48054)
– Marine City (St. Clair County, 48039)

At a Glance

Orlena got its start by hammering the mountain West, including the Sierra.
It then blanketed the Midwest, including Chicago, the final weekend of January.
Then Orlena buried parts of the Northeast in over 2 feet of snow.

Winter Storm Orlena hammered parts of the mountain West, Midwest and Northeast with heavy snow and strong winds from late January into early February.

Orlena began its cross-country journey in California as an atmospheric-river fueled Pacific storm wrung out feet of snow in the Sierra and other parts of the West, along with flooding rain. For full details on this part of the storm, click here.

Orlena then tracked into the Midwest over the final weekend of January.

Before Orlena’s Midwest snow kicked into gear on Jan. 30, over 100 million Americans were covered by a National Weather Service winter storm watch, warning or winter weather advisory in the Midwest and Northeast.

Chicago’s O’Hare airport picked up 10.8 inches of snowfall from Jan. 30-31. Combined with Winter Storm Nathaniel, it was Chicago’s snowiest week in almost 6 years, according to the National Weather Service.

Parts of the Milwaukee metro area saw 8 to 10 inches of snow, making this their snowiest January in 16 years.

A corridor of northern Indiana from the northwest Indiana suburbs of Chicago to Fort Wayne picked up 8 to 10 inches of snow.

Beginning on Jan. 31, snow spread into the Mid-Atlantic states, then intensified that night into Feb. 1.

For full report, please click the source link above.

FEMA Declared Disaster Navajo Nation COVID-19 Pandemic

Posted on February 3, 2021February 3, 2021 by Safeguard

FEMA Alert
February 2, 2021

FEMA issued a Presidential Major Disaster Declaration for the Navajo Nation as a result of the Coronavirus Disease 2019 (COVID-19) pandemic beginning on January 20, 2020 and continuing. The following approximate tribal areas are eligible for assistance:

Public Assistance

Arizona

Bitter Springs (Coconino County, 86040)
Blue Gap (Navajo County, 86520)
Burnside (Apache County, 86505)
Cameron (Coconino County, 86020)
Del Muerto (Apache County, 86503)
Chilchinbito (Navajo County, 86033)
Chinle (Apache County, 86503)
Dennehotso (Apache County, 86535)
Dilkon (Navajo County, 86047)
Fort Definance (Apache County, 86504)
Ganado (Apache County, 86505)
Gray Mountain (Coconino Mountain, 86020)
Greasewood (Navajo County, 86505)
Houck (Apache County, 86506, 86508)
Hunters Point (Apache Point, 86511)
Indian Wells (Navajo County, 86031)
Kaibito (Coconino County, 86053)
Kayenta (Navajo County, 86033)
Kinlichee (Apache County, 86505)
Klagetoh (Apache County, 86502)
LeChee (Coconino County, 86040)
Leupp (Coconino County, 86035)
Lukachukai (Apache County, 86507)
Lupton (Apache County, 86508)
Many Farms (Apache County, 86538)
Nahata Dziil (Apache County, 86512)
Nazlini (Apache County, 86540)
Oak Springs (Apache County, 86511)
Pine Springs (Apache County, 86506)
Pinon (Navajo County, 86510)
Red Mesa (Apache County, 86514)
Rock Point (Apache County, 86545)
Rough Rock (Apache County, 86503)
Round Rock (Apache County, 86547)
St. Michaels (Apache County, 86511)
Shonto (Navajo County, 86054)
Steamboat (Apache County, 86505)
Teec Nos Pos (Apache County, 86514)
Tees Toh (Navajo County, 86047)
Tolani Lake (Coconino County, 86047)
Tsaile (Apache County, 86556)
Tonalea (Coconino County, 86044)
Tsegi (Navajo County, 86033)
Tuba City (Coconino County, 86045)
Wheatfields (Apache County, 86507)
White Cone (Navajo County, 86034)
Wide Ruin (Apache County, 86502)
Window Rock (Apache County, 86515)
Wood Springs (Apache County, 86505)
Yazzi (Apache County, 86544)

New Mexico

Alamo (Socorro County, 87825)
Beclabito (San Juan County, 87420)
Crownpoint (McKinley County, 87313)
Nenahnezad (San Juan County, 87416)
Newcomb (San Juan County, 87455)
Ojo Amarillo (San Juan County, 87417)
Ramah (McKinley County, 87321)
Sansotee (San Juan County, 87461)
Sheep Springs (San Juan County, 87364)
Shiprock (San Juan County, 87420, 87461)
To’hajiilee (Bernalillo, Cibola, Sandoval Counties, 87026)

Utah

Aneth (San Juan County, 84534)
Montezuma Creek (San Juan County, 84534)
Oljat-Monument Valley (Navajo County, 84536)
Tselakai Dezza (San Juan County, 84512)
White Rock Curve Village (San Juan County, 84534)

NOTE: Tribal area ZIP codes are approximate and may not be complete.

Navajo Nation COVID-19 Pandemic (DR-4582)

FEMA Declared Disaster: Navajo Nation ZIP Code List

Additional Resources

FEMA’s Web Site

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

HUD: Multiple COVID-19 Temporary Policy Waivers

Posted on February 3, 2021February 3, 2021 by Safeguard

Investor Update
February 3, 2021

Source: HUD

WASHINGTON – Today, the Federal Housing Administration (FHA) issued a series of waivers of provisions in its Single Family Housing Policy Handbook 4000.1 that would normally require in-person contact between mortgage servicers and borrowers, including seniors with FHA-insured Home Equity Conversion (HECM) reverse mortgages. These waivers allow important mortgage servicing activities to continue, but in a manner that allows for safe social distancing to help combat the COVID-19 pandemic.

“President Biden has made it clear that protecting the health, safety, and homeownership security of the nation’s most vulnerable populations, including seniors, are urgent and immediate priorities,” said Acting HUD Secretary Matthew Ammon. “The policy waivers issued today are another important step in addressing these priorities.”

Specifically, the waivers issued today build upon previous waivers and put in place the following provisions through December 31, 2021:

• Allowing alternative methods for servicers to conduct borrower interviews for FHA-insured forward and HECM mortgages when performing early default interventions for borrowers in danger of foreclosure;

• Waiving the $5,000 property charge payment arrearages cap on recalculated repayment plans, allowing servicers to help more HECM borrowers who are behind on their property charge payments; and

• Eliminating the requirement for servicers to obtain a signature on an occupancy certification from a HECM borrower.

The waivers issued today augment FHA’s actions last week to execute on President Biden’s “Day One” request to provide urgent and immediate support to the nation’s homeowners struggling to make their mortgage payments due to COVID-19. To execute the President’s Day One request, FHA extended its foreclosure and eviction moratorium for borrowers with FHA-insured single family mortgages through March 31, 2021. FHA also extended the deadline for borrowers financially impacted by COVID-19 to request a new forbearance from their mortgage servicer through March 31, 2021.

FHA encourages borrowers with FHA-insured mortgages who can make their mortgage payments to continue to do so. Borrowers with FHA-insured mortgages seeking additional information on available options should visit FHA’s COVID-19 Resources for Homeowners web page on FHA.gov. Other borrowers are encouraged to visit the Consumer Financial Protection Bureau’s Coronavirus Mortgage and Housing Assistance web pages.

FHFA: New General Counsel Announcement

Posted on February 2, 2021February 2, 2021 by Safeguard

Investor Update
February 1, 2021

Source: FHFA

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced that Clinton Jones started as the Agency’s new General Counsel. Jones succeeds Alfred Pollard, who is retiring from the Agency at the end of March after a distinguished financial services career.

“Alfred has served admirably as General Counsel to every FHFA Director. I am grateful for his wise counsel, hard work, and dedication to the Agency,” said Director Mark Calabria. “Clinton’s long-standing career in public service, in-depth legal expertise in housing policy, and executive leadership skills will help bolster FHFA’s work as a world-class prudential regulator.”

Pollard has been the only General Counsel to serve the Agency since it was formed in 2008 and served as General Counsel to its predecessor, the Office of Federal Housing Enterprise Oversight. He has also served on several presidential mortgage fraud task forces and as a member of the Administrative Conference of the United States. In 2014, Pollard was named by National Law Journal as one of “America’s 50 Outstanding General Counsel.”

Since 2019, Jones has served as a Senior Advisor at FHFA. Prior to joining the Agency, he served for 24 years in various senior legal roles at the U.S. House of Representatives Committee on Financial Services, including General Counsel, Parliamentarian, and, most recently, Senior Counsel for the Housing and Insurance Subcommittee. Jones was also a Vice President at Fannie Mae and an Attorney Advisor for the U.S. Department of Housing and Urban Development. He has been adjunct faculty at Howard University since 1990. Jones received his J.D., Master’s in City & Regional Planning, and B.S. from the University of North Carolina at Chapel Hill.

Contacts:

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

FHFA: Foreclosure Prevention Report – October 2020

Posted on February 2, 2021 by Safeguard

Investor Update
January 27, 2021

Source: FHFA

October 2020 Highlights — Foreclosure Prevention

The Enterprises’ Foreclosure Prevention Actions:

• The Enterprises completed 166,189 foreclosure prevention actions in October, bringing the total to 5,391,530 since the start of the conservatorships in September 2008. Approximately 45 percent of these actions have been permanent loan modifications.

• There were 2,890 permanent loan modifications in October, bringing the total to 2,434,509 since the conservatorships began in September 2008.

• Eighteen percent of modifications in October were modifications with principal forbearance. Modifications with extend-term only accounted for 65 percent of all loan modifications during the month.

• The number of borrowers who received payment deferrals after completing a COVID-19 related forbearance plan increased from 72,589 in September to 83,384 in October.

• Initiated forbearance plans decreased 9 percent from 64,179 in September to 58,516 in October. The total number of loans in forbearance plans decreased from 1,045,808 at the end of September to 922,589 at the end of October, representing approximately 3.22% of the total loans serviced, and 74 percent of the total delinquent loans.

• There were 315 short sales and deeds-in-lieu of foreclosure completed in October, up 7 percent compared with September.

The Enterprises’ Mortgage Performance:

• The 30-59 days delinquency rate decreased to 1.01 percent, while the serious delinquency rate dropped from 3.14 percent at the end of September to 2.99 percent at the end of October.

The Enterprises’ Foreclosures:

• Third-party and foreclosure sales increased 19 percent to 741 while foreclosure starts decreased 13 percent to 2,474 in October.

October 2020 Highlights – Refinance Activities

• Total refinance volume rose and continued in record breaking territory in October 2020 as mortgage rates continued to decrease though September. Mortgage rates decreased further in October: the average interest rate on a 30-year fixed rate mortgage fell to 2.83 percent from 2.89 percent in September.

• In October, 2 refinances were completed through the High LTV Refinance Option, bringing total refinances through the High LTV Refinance Option from the inception of the program to 107.

• The percentage of cash-out refinances increased to 26 percent in October after steadily decreasing in earlier months to a low of 25 percent in August, and rising slightly in September. Mortgage rates have continued to fall, creating more opportunities for non cash-out borrowers to refinance at lower rates and lower their monthly payments.

Attachments: Foreclosure Prevention, Refi & FPM Report Oct 2020

FHFA: COVID-19 U.S. Mortgage Performance Analysis

Posted on February 2, 2021 by Safeguard

Investor Update
February 2, 2021

Source: FHFA

Since March, the United States experienced a surge in job losses that has created a concern about the ability of homeowners to pay their mortgages. One way of measuring homeowners’ ability to make their mortgage payments in the current environment is to calculate the incidence of past-due mortgages. Congress passed the CARES Act in March [1], allowing most mortgage borrowers to skip their normal required monthly mortgage payments without harming their consumer credit score or showing their mortgage as past-due in their credit report.[2] [3] Borrowers taking advantage of this provision were also allowed to freeze the past due status of their mortgage at the level it was at when the Act was passed. This meant that most mortgage borrowers who were current when the Act was passed could skip future payments without showing their mortgage as past due in their credit report.

The data presented in the figure below, drawn from the National Mortgage Database (NMDB®) sponsored by FHFA and CFPB, show the national impact of these components of the CARES Act. The data shown are based on what the past-due status of mortgages reported to the credit bureaus would be if a credit report were pulled for every borrower on the last day of the month.[4]

During 2020, mortgages reported to the credit bureaus as having payments 30 or 60 days past due plunged to 1.0 percent as shown in the figure above. The percentages over the past year for mortgages that were 90 to 180 days past due (0.6 percent) and mortgages in the process of foreclosure, bankruptcy, or deed-in-lieu (0.3 percent) remained flat. As a result of these trends, the median credit score of mortgage borrowers, as measured by VantageScore® on borrowers of active mortgage loans, has actually risen slightly in 2020. In contrast, the share of accounts that were reported as more seriously past-due rose sharply in 2009 after the Great Recession and consumer credit scores also suffered.

On the surface, these results might imply that borrowers are having little trouble paying their mortgages. However, because of the changes in reporting due to the CARES Act, this conclusion may be misleading. We estimate that at the end of October 2020 the past due rate would be about 3 percentage points higher if waivers allowed under the CARES Act were not allowed. This would imply a significant increase in the share of mortgages past-due in 2020. The long run implications of these changes may not be known until after the COVID crisis is over. In the interim, it is important to remember that traditional metrics of mortgage performance may not have the same interpretations as they have in the past.

[1] Coronavirus Aid, Relief, and Economic Security Act, Pub. L. No.116-136 (2020).

[2] The CARES Act provides the option for homeowners with federally backed or funded mortgages to request forbearance (a pause) of mortgage payments for up to 180 days. (Pub. L. No.116-136 § 4022(b)). Many borrowers of non-covered mortgages were offered a similar option by their servicers. We estimate that about 6 percent of active borrowers in October 2020 had been granted and were still under a forbearance.

[3] Under normal circumstances borrowers who don’t make their required payments are reported by lenders as “past due” to the credit bureaus. Past due is measured in 30-day increments from 30 to 180 days (180 days past due includes all loans at least 180 days past due but have not gone into the process of foreclosure, bankruptcy or deed in lieu). Any level of past due status is generally harmful to a consumer’s credit report. Being 180 days past due is particularly significant in that lenders typically have the right to foreclose on the borrower at that point.

[4] The mortgage performance data presented here come from the credit reports of borrowers with active mortgages housed in the NMDB, which is maintained by the Federal Housing Finance Agency (FHFA). The NMDB is a representative 1-in-20 sample of closed-end first-lien mortgages reported to Experian, one of the three national credit repositories. It provides performance data on borrowers and their mortgages which look like what you would get if you pulled a credit report on the last day of each quarter for all mortgage borrowers in the United States.

Alan Jaffa Recognized as One of “The Cleveland 500”

Posted on February 2, 2021 by Safeguard

Safeguard in the News
January 29, 2020

Source: Cleveland Magazine

The Influencers

Being influential means more than just being successful. It requires a forward-thinking mindset, a unified vision, boundless creativity and the ability to lead. It means guiding from behind the scenes as standing in front of them.

Real Estate, Housing, Architects, Building & Construction

Jaffa, Alan
CEO
Safeguard Properties Management

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

DS News Highlights Upcoming Safeguard Moratorium Webinar

Posted on February 1, 2021 by Safeguard

Safeguard in the News
January 29, 2021

Source: DS News

This week, Safeguard Properties, which manages mortgage field services on vacant, defaulted, and foreclosed properties, hosts a webinar entitled, “Evictions: Maneuvering Through the Moratoriums,” during which a panel of experts will detail and discuss the nuances of the latest federal, lending, and servicing rules related to the COVID-19 pandemic.

Specifically, the pundits will explain what preservation-related actions servicers can and cannot take during the moratoriums; changes in eviction laws and guidance; the CDC order regarding evictions; and challenges in key states.

The following speakers will be in attendance and available for questions:

• C. Lance Margolin, Partner Emeritus and Director of Eviction and REO Services, The Margolin & Weinreb Law Group, LLP in Syosset, N.Y.

• Daniel Barbagelata, Supervising Partner of Evictions, Deed in Lieu and National Closing Services, Aldridge Pite LLP in Atlanta, Ga.

• Will Jarrell, Senior Associate Attorney, Aldridge Pite LLP in Atlanta, Ga.

• Linda Erkkila, General Counsel and EVP, Safeguard Properties

The webinar is from 1-2 p.m. EST, Thursday, February 4. It’s complimentary when you register here.

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

VA: Circular 26-21-02: Extended COVID-19 Foreclosure and Eviction Relief

Posted on January 29, 2021January 29, 2021 by Safeguard

Investor Update
January 29, 2021

Source: VA

1. Background and Purpose. Under chapter 37 of title 38, United States Code, and Executive Orders related to the COVID-19 national emergency, VA has taken numerous steps to help Veterans who are experiencing financial hardships, directly or indirectly, as a result of the COVID-19 pandemic. The purpose of this Circular is to extend foreclosure and eviction relief on properties secured by VA-guaranteed loans, including those previously secured by VA-guaranteed loans but currently in VA’s Real Estate Owned (REO) portfolio.

2. Moratorium on Foreclosure and Eviction. Due to the ongoing COVID-19 national emergency and its impact on Veteran borrowers, all properties secured by VA-guaranteed loans, including those previously secured by VA-guaranteed loans but currently in VA’s REO portfolio, are subject to a moratorium on foreclosure and eviction through March 31, 2021. Except with respect to a vacant or abandoned property, the moratorium applies to the initiation of foreclosures, the completion of foreclosures in process, and evictions.

3. Rescission: This Circular is rescinded April 1, 2021