MHA: Columbus Day Holiday Support and System Availability

Investor Update
October 10, 2019

Source: MHA

In the observance of Columbus Day, the HAMP Reporting System response files will not be available between 4:00 p.m. ET on Friday, October 11, 2019 and 9:00 a.m. ET on Tuesday, October 15, 2019; they will be sent as soon as the system is available.

During this timeframe, the HAMP Reporting Tool will be available for servicers to submit and upload HAMP loan data files, and the corresponding Black Knight response files will be provided as usual.

The HAMP Solution Center will be open as scheduled from 9:00 a.m. ET to 4:00 p.m. ET on Monday, October 14, 2019.

Fall Wildfires Erupt in Southern California

Updated 10/14/19: The California Department of Forestry & Fire Protection (CAL FIRE) has created a incident map tracking the latest active wildfires around the state.

Incident Map

Active Incident Summary (abbreviated):

Saddleridge Fire
– Containment: 43%
– Acres Burned: 7,965

Sandalwood Fire
– Containment: 94%
– Acres Burned: 1,011

Updated 10/14/19:
KNBC 4 published a report offering the latest updates on active wildfires currently impacting portions of Southern California.

Wildfire Threat Diminishes After Days of Flames and Smoke in Southern California

Updated 10/13/19: The California Department of Forestry & Fire Protection (CAL FIRE) has created a incident map tracking the latest active wildfires around the state.

Incident Map

Active Incident Summary (abbreviated):

Saddleridge Fire
– Containment: 33%
– Acres Burned: 7,965

Sandalwood Fire
– Containment: 68%
– Acres Burned: 1,011

Updated 10/13/19:
CNN published a report offering the latest updates on active wildfires currently impacting portions of Southern California.

CNN Full Report

Updated 10/12/19: The California Department of Forestry & Fire Protection (CAL FIRE) has created a incident map tracking the latest active wildfires around the state.

Incident Map

Active Incident Summary (abbreviated):

Saddleridge Fire
– Containment: 13%
– Acres Burned: 7542

Sandalwood Fire
– Containment: 10%
– Acres Burned: 823

Updated 10/12/19: NBC News published a report offering the latest updates on active wildfires currently impacting portions of Southern California.

Race is on to contain wind-fueled Los Angeles wildfire (full report)

Updated 10/11/19: California Governor Gavin Newsom issued an emergency proclamation for two counties impacted by wildfire activity.

Governor Newsom Declares State of Emergency in Los Angeles and Riverside Counties Due to Fires (full proclamation)

Associated County ZIP Code List

Disaster Alert
October 11, 2019

Source: The Weather Channel

Approximate areas containing homes damaged or destroyed:

California
– Calimesa (Riverside County, 92223, 92320, 92373)
– Fontana (San Bernardino County, 92316, 92331, 92334, 92335, 92336, 92337, 92377)
– Granada Hills (Los Angeles County, 91344, 91394)
– Porter Ranch (Los Angeles County, 91326)

NOTE: This has not yet been declared a FEMA Disaster.

At a Glance

  • Residents of more than 12,000 homes in Los Angeles were ordered to evacuate.
  • The 210 and 5 Freeways are closed because of the Saddleridge Fire that began Thursday night.
  • Earlier Thursday, numerous mobile homes were destroyed in Calimesa, California, by a wildfire.
  • About 250,000 customers still had no electricity in Northern California.
  • Costs of the outages could top $1 billion, economists say.

A fast-moving wildfire jumped into neighborhoods in Los Angeles overnight forcing evacuations, destroying homes and closing two freeways and an interstate.

Flames from the Saddleridge Fire, which started about 9 p.m. Thursday in Sylmar, crossed over the 210 Freeway and later the 5 Freeway. Both highways were closed because of smoke. Interstate 405 was closed at State Road 118.

By 4 a.m. local time Friday, the fire had spread to more than 7 square miles in the northern foothills of the San Fernando Valley, according to the Associated Press. The Los Angeles Fire Department deemed the fire a “Major Emergency”, the highest classification there is for a fire emergency.

Officials ordered mandatory evacuations for 12,700 homes in the Porter Ranch, Granada Hills and Oakridge Estates neighborhoods. Some residents had already gone to bed before the order to flee came.

Several homes were seen burning in Granada Hills, and the Los Angeles Fire Department said an “unknown number” of homes were potentially threatened.

There were no reports of injuries.

The Saddleridge Fire was one of several major wildfires that burned as hundreds of thousands of California residents entered a third day without electricity. Utilities had shut off the power in an effort to prevent falling or sparking wires igniting fires.

On Thursday afternoon, a blaze known as the Sandalwood Fire grew rapidly and destroyed numerous mobile homes in the town of Calimesa, about 65 miles east of Los Angeles. The Riverside County Fire Department said 74 structures were destroyed in the fire and another 16 damaged.

Fire crews responded quickly to the fire as it invaded the Villa Calimesa Mobile Home Park not far from Interstate 10. The surrounding area, which includes a middle school, was ordered to evacuate as the fire grew and moved quickly to the west, away from the freeway.

As the fire expanded to an estimated 500 acres, footage from a KTLA-TV helicopter showed dozens of mobile homes on fire.

For full report, please click the source link above.

VA: Circular 26-19-27: Special Relief Following Hurricane Dorian

Investor Update
October 8, 2019

Source: VA

1. Purpose. This Circular expresses concern about the Department of Veterans Affairs (VA) home loan borrowers affected by Hurricane Dorian, and describes measures mortgagees may employ to provide relief. Mortgage servicers and borrowers alike should review VA’s Guidance on Natural Disasters to ensure Veterans receive the assistance they need. (https://www.benefits.va.gov/homeloans/documents/docs/va_policy_regarding_natural_disasters.pdf or https://www.benefits.va.gov/WARMS/docs/admin26/m26_04/Chapter_21.docx.)

2. Forbearance Request. VA encourages holders of guaranteed loans to extend forbearance to borrowers in distress as a result of the disaster. Careful counseling with borrowers should help determine whether their difficulties are related to this disaster, or whether they stem from other sources that must be addressed. The proper use of authorities granted in VA regulations may be of assistance in appropriate cases. For example, Title 38, Code of Federal Regulations (C.F.R.), section 36.4311 allows the reapplication of prepayments to cure or prevent a default. Also, 38 C.FR. 36.4315 allows the terms of any guaranteed loan to be modified without the prior approval of VA, provided conditions in the regulation are satisfied.

3. Moratorium on Foreclosure. Although the loan holder is ultimately responsible for determining when to initiate foreclosure, and for completing termination action, VA has requested on its website (https://www.benefits.va.gov/homeloans) that holders establish a 90-day moratorium from the date of a disaster declaration on initiating new foreclosures on loans
affected by major disasters. VA regulation 38 C.F.R. 36.4324(a)(3)(ii) allows additional interest on a guaranty claim when eventual termination has been delayed due to circumstances beyond the control of the holder, such as VA-requested forbearance. Due to the widespread impact of the disaster, holders should review all foreclosure referrals to ensure that borrowers have not been affected significantly enough to justify delay in referral. Any questions about impact should be discussed with the VA Regional Loan Center (RLC) of jurisdiction.

4. Late Charge Waivers. VA believes that many servicers plan to waive late charges on affected loans, and encourages all servicers to adopt such a policy for any loans that may have been affected.

5. Credit and VA Reporting. In order to avoid damaging credit records of Veteran borrowers, servicers are encouraged to suspend credit bureau reporting on affected loans. VA will not penalize affected servicers for any late default reporting to VA as a result. Please contact the appropriate RLC with any questions.

6. Activation of the National Guard. Members of the National Guard may be called to active duty to assist in recovery efforts. VA encourages servicers to extend special forbearance to National Guard members who experience financial difficulties as a result of their service.

7. Rescission: This Circular is rescinded October 1, 2020.

By Direction of the Under Secretary for Benefits

Jeffrey F. London
Director, Loan Guaranty Service

Freddie Mac: FHLMC Guide Bulletin 2019-21: Updates to Servicing Gateway

Investor Update
October 9, 2019

Source: Freddie Mac

In Single-Family Seller/Servicer Guide (Guide) Bulletin 2019-21, we’re extending the implementation of Servicing Gateway and the mandatory adoption of the Servicing Data Corrections tool to December 9, 2019.

The Guide Bulletin also announces servicing updates related to the following:

– Document custody requirements

– Settling charge-offs via Workout Prospector®

– Freddie Mac access to mortgage records

Other servicing updates that may be important to your business

For More Information

– Read Guide Bulletin 2019-21.

– Contact your Freddie Mac representative.

Need help looking for a requirement in our Guide? Try Cobrowse.

 

Fannie Mae: Servicing Notice

Investor Update
October 9, 2019

Source: Fannie Mae

At varying times in 2017 and 2018, for both forward mortgage loans and reverse mortgage loans, we accepted responsibility for the payment of property taxes, HOA or condo association fees and assessments, co-op fees and assessments, and ground rents for acquired properties. In some cases, the responsible party was determined by the date of foreclosure sale or final acceptance of an executed Mortgage Release™.

With this Notice, we assume responsibility – without regard to the foreclosure sale or Mortgage Release date – as follows:

• for the payment of HOA and condo association fees and assessments for all acquired properties, effective July 1, 2019; and

• for the payment of co-op corporation fees and assessments for all acquired properties, effective November 1, 2019.

As a result, we now assume the responsibility for the payment of all property taxes, ground rents, as well as fees and assessments invoiced by an HOA, condo association, or co-op corporation once the foreclosure sale or Mortgage Release occurs. As outlined in E-4.3-01, Managing the Property Post-Foreclosure Sale, the servicer is not responsible for these expenses after we acquire the property, unless we direct otherwise. This includes reverse mortgage loans.

FEMA Declared Disaster South Dakota

FEMA Alert
October 7, 2019

FEMA issued a Presidential Major Disaster Declaration for areas in South Dakota affected by severe storms, tornadoes and flooding that took place June 30 to July 21, 2019.

The following counties are eligible for assistance:

Public Assistance

  • Butte
  • Gregory
  • Kingsbury
  • Lawrence
  • Meade
  • Tripp

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

  • Cheyenne River Indian Reservation (Dewey, Haakon, Meade, Stanley, Ziebach counties)
  • Lower Brule Indian Reservation (Lyman, Stanley counties)

South Dakota Severe Storms And Flooding (DR-4467)

FEMA Declared Disaster South Dakota: ZIP Code List


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

Typhoon Hagibis Moves Over Northern Mariana Islands

Updated 10/9/19: The Weather Channel published a report offering the latest forecast information for Typhoon Hagibis, which passed over the Northern Mariana Islands on October 8, 2019.

Super Typhoon Hagibis Churning in the Western Pacific Ocean; Could Strike Japan, Including Tokyo, This Weekend (full report)

Updated 10/8/19: FEMA issued an Emergency Declaration for areas in the Commonwealth of the Northern Mariana Islands affected by Typhoon Hagibis beginning on October 7, 2019 and continuing.

Northern Mariana Islands Typhoon Hagibis (EM-3424)

Associated ZIP Code list

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

Disaster Alert
October 8, 2019

Source: Time (Associated Press)

(SAIPAN, Northern Mariana Islands) — President Donald Trump is declaring an emergency for the Commonwealth of the Northern Mariana Islands and ordering the U.S. government to help local authorities respond to a typhoon.

The Pacific Daily News reports the eye of Typhoon Hagibis passed over Anatahan Island, about 80 miles (130 miles) north of Saipan, early Tuesday.

The National Weather Service says a typhoon warning is in effect for Saipan and Tinian islands. The agency cancelled a tropical storm warning for Guam, which is further to the south. The newspaper reports 140 residents on Guam used emergency shelters.

For full report, please click the source link above.

HUD: Secretary Carson Applauds Nomination of Brian Montgomery as Deputy Secretary

Industry Update
October 8, 2019

Source: HUD

WASHINGTON – Secretary Ben Carson applauds the nomination of Brian D. Montgomery to serve as Deputy Secretary of the U.S. Department of Housing and Urban Development (HUD). As the second most senior official at HUD, Mr. Montgomery will manage the day-to-day operations of the agency and will advise and assist the Secretary in leading the Department’s nearly 8,000 employees.

A Texas native, Mr. Montgomery currently performs duties of the Deputy Secretary of the Department and serves as HUD’s Assistant Secretary for Housing and Federal Housing Commissioner. Nominated for these roles by President Trump in September 2017, he is the first individual to serve as head of the Federal Housing Administration (FHA) twice and under three different Administrations.

“Brian brings tremendous experience to our team and has been a strong voice in the effort to reform the Nation’s housing finance system,” said Secretary Carson. “As Federal Housing Commissioner, Brian made certain FHA remains a stable and reliable resource for first-time and minority homebuyers, and other underserved borrowers while protecting the interests of taxpayers. Brian is a key member of our team and I look forward to having him confirmed as our Deputy Secretary.”

“Once again, I am tremendously honored to be called upon by President Trump and Secretary Carson to serve this Department and the American people,” said Commissioner Montgomery. “Service to our fellow Americans is the cornerstone of our Department and I look forward to continuing to help fulfill HUD’s critical role.”

As Federal Housing Commissioner, Mr. Montgomery is responsible for the management of FHA’s more than $1.4 trillion mortgage insurance portfolio, which includes its Single Family, Multifamily, and Health Care programs. As Assistant Secretary for Housing, he also oversees HUD’s Project-based Section 8 rental assistance housing program, the Office of Housing Counseling, and HUD’s Manufactured Housing Program.

With over 30 years of experience in the public and private sectors, Mr. Montgomery brings to HUD a deep knowledge of housing issues and vast experience spearheading large-scale policy initiatives. During his first term as HUD’s Assistant Secretary for Housing/FHA Commissioner, he spearheaded regulatory reform of the Real Estate Settlement Procedures Act (RESPA), developing solutions to assist struggling homeowners during the financial crisis, and his leadership of FHA modernization efforts that led to legislation in 2008.

From January 2003 until April 2005, Mr. Montgomery served in the Executive Office of the President as Deputy Assistant to the President and Cabinet Secretary. In this role, he led the White House’s internal working group to monitor all facets of the Space Shuttle Columbia accident investigation for which he was awarded the NASA Exceptional Service Medal. Mr. Montgomery also served as Deputy Assistant to the President and Director of Advance from January 2001 until January 2003. During his time as Director of Advance he traveled extensively with President Bush, including on September 11, 2001.

FEMA Declared Disaster North Carolina

FEMA Alert Update
December 9, 2019

FEMA issued an update to a Presidential Major Disaster Declaration for areas in North Carolina affected by Hurricane Dorian from September 1 to September 9, 2019.

The following counties are eligible for assistance:

Public Assistance

  • Bladen
  • Chowan

North Carolina Hurricane Dorian (DR-4465 Amendment 2)

FEMA Declared Disaster North Carolina: ZIP Code List

 

FEMA Alert Update
October 17, 2019

FEMA issued an update to a Presidential Major Disaster Declaration for areas in North Carolina affected by Hurricane Dorian from September 1 to September 9, 2019.

The following counties are eligible for assistance:

Public Assistance

  • Beaufort
  • Camden
  • Columbus
  • Greene
  • Hoke
  • Lenoir
  • Onslow
  • Pasquotank
  • Perquimans
  • Pitt
  • Robeson
  • Wayne

North Carolina Hurricane Dorian (DR-4465 Amendment 1)

FEMA Declared Disaster North Carolina: ZIP Code List

 

FEMA Alert
October 4, 2019

FEMA issued a Presidential Major Disaster Declaration for areas in North Carolina affected by Hurricane Dorian from September 1 to September 9, 2019.

The following counties are eligible for assistance:

Public Assistance

  • Brunswick
  • Carteret
  • Craven
  • Currituck
  • Dare
  • Duplin
  • Hyde
  • Jones
  • New Hanover
  • Pamlico
  • Sampson
  • Tyrrell
  • Washington

North Carolina Hurricane Dorian (DR-4465)

FEMA Declared Disaster North Carolina: ZIP Code List


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

FEMA Declared Disaster Texas

FEMA Alert Update
October 24, 2019

FEMA issued an update to a Presidential Major Disaster Declaration for areas in Texas affected by Tropical Storm Imelda from September 17 to September 23, 2019.

The following county is eligible for assistance:

Individual Assistance

  • San Jacinto

Texas Tropical Storm Imelda (DR-4466): Amendment 1

FEMA Declared Disaster Texas: ZIP Code List

 

FEMA Alert
October 4, 2019

FEMA issued a Presidential Major Disaster Declaration for areas in Texas affected by Tropical Storm Imelda from September 17 to September 23, 2019.

The following counties are eligible for assistance:

Individual Assistance

  • Chambers
  • Harris
  • Jefferson
  • Liberty
  • Montgomery
  • Orange

Texas Tropical Storm Imelda (DR-4466)

FEMA Declared Disaster Texas: ZIP Code List


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