Investor Update
April 23, 2019
Source: FHFA
January 2019 Highlights
VA: VALERI Special Announcement
Investor Update
April 23, 2019
Source: VA
The Department of Veterans Affairs (VA) is in the process of transitioning to a new VA Loan Electronic Reporting Interface (VALERI) application scheduled to ‘go-live’ on Tuesday, May 28, 2019. This initiative has generated great interest in the mortgage industry. The following information is provided to assist our program partners in anticipation of this exciting milestone:
• 4/1/19 – Last day Post Audit cases were selected (tentative date to resume 7/1).
• 4/6/19 – The 90-day and 180-day Adequacy of Servicing (AOS) reviews will no longer generate (120-day AOS reviews will continue to generate).
• 4/26/19 – Last day to submit claims and appeals (until May 28, 2019).
• 5/15/19 to 5/24/19 – The Servicer Web Portal in VALERI will be a read-only application.
• 5/15/19 to 5/24/19 – Servicers using direct connect/service platforms will report to both Black Knight and VA. VA will process all files on 5/27 in date order.
• 5/15/19 to 5/24/19 – Transfer of Custody events will not generate (details forthcoming on appeals in the new VALERI application).
• 5/17/19 – Tentative date for servicer training (details forthcoming).
• 5/23/19 – Reports will be unavailable after 2:00 PM EST (servicers should generate and save all reports prior to this cut off time).
• 5/24/19 to 5/27/19 – VALERI will be unavailable.
Additional information will be provided as the deployment date nears, but some of the changes in the new VALERI application include:
• Access for new VALERI will be obtained and managed through AccessVA.
• Pre-Approval requests must be submitted via email directly to the assigned Loan Technician (until further notice).
• For Post Audits, Appeals, and Supplemental Claims, servicers will be required to provide the specific page number of the supporting evidence.
• Manual events and all claims will no longer be reported on an individual event/loan basis. All manual reporting must be performed using new bulk upload templates (not yet available).
• Servicers will have to re-enter their Points of Contacts (POC) for each department (servicers should make a copy of existing POCs before 5/23/19).
Servicers are encouraged to attend the next monthly webinar on Thursday, May 9, 2019, at 1:00 PM EST. Requests for webinar information and all other questions should be directed to the VALERI Helpdesk at valerihelpdesk.vbaco@va.gov.
Thank you for your cooperation and patience during this important transition period.
VALERI Helpdesk
VA Central Office Loan Management
MHA: New Report; Updates to Loan State Change Request Process
Investor Update
April 19, 2019
Source: MHA
Beginning May 2019, a new report will be available on the HAMP® Reporting Tool (login required).
In accordance with updated OMR reporting guidance that was published in Supplemental Directive (SD) 18-01, a new report will be made available on the Ad hoc Reports link of the HAMP Reporting Tool:
- Missing OMR Reporting Required
This new report will be published on the first Business Day (BD1) and the fifth Business Day (BD5) of each month. The report will contain all loans which require continued OMR Reporting based on program guidelines.
The following report on the Ad hoc Report link of the HAMP Reporting Tool will no longer be delivered after April 2019:
- Aged Missing OMR Report
Servicers should refer to the Servicer Data Quality Outreach report for loans that are considered ‘Aged Missing OMR’ where reporting has not been received for 6 or more months.
Questions?
For more information, review SD 18-01 or email the HAMP Solution Center.
Updates to MHA Loan State Change Request Process Appendices Posted
Updates to the MHA Loan State Change Request Process document to reflect new allowable updates to 2MP HAMP loans.
- APPENDIX A – MHA Loan State Change Request – Allowable Loan State Changes Matrix
- APPENDIX B – MHA Loan State Change Request – Attribute Conditionality Matrix
Additional guidance has been incorporated at the link below which can be viewed within the Data Reporting tab, under the MHA Loan State Change Request Process section on the HMPadmin.com
Fannie Mae: New Bankruptcy and Foreclosure Course for Servicers
Investor Update
April 16, 2019
Source: Fannie Mae (Introduction to Servicing eLearning)
Bankruptcy and foreclosure cases can be complex, and we want to make it as simple as possible for you to comply with our guidelines. Check out the new self-paced Bankruptcy and Foreclosure course within the Introduction to Servicing Elearning Series.
Severe Storms Continue Across South
Disaster Alert
April 18, 2019
Source: The Weather Channel
Approximate locations containing home damage:
Mississippi
- Morton (Scott County, 39117)
Alabama
- Aliceville (Pickens County, 35442)
At least three people died Thursday as severe thunderstorms that marched across the southern U.S. spawned tornadoes, knocked trees into homes, blew over cars and caused roads to flood.
The line of severe weather damaged homes, made travel difficult and left tens of thousands of customers without power as it moved from Texas and Louisiana into Mississippi, Alabama and Georgia. There were reports of nine tornadoes in Mississippi, forecasters said.
By Friday morning, the storms were moving through Tennessee, Georgia and Florida on a trek east. There is a strong risk of damaging winds from the storms that will sweep through Virginia and the Carolinas later Friday, forecasters said.
For full report, please click the source button above.
FEMA Declared Disaster Tennessee
FEMA Alert Update
May 15, 2019
FEMA issued an update to a Presidential Major Disaster Declaration for areas in Tennessee affected by severe storms, flooding, landslides and mudslides that took place February 19 to March 30, 2019. The following counties are eligible for assistance:
Public Assistance
|
FEMA Release: Declared Disaster Amendment for Tennessee
ZIP Code List for FEMA Declared Disaster for Tennessee
FEMA Alert
April 17, 2019
FEMA issued a Presidential Major Disaster Declaration for areas in Tennessee affected by severe storms, flooding, landslides and mudslides that took place February 19 to March 30, 2019. The following counties are eligible for assistance:
Public Assistance
|
|
|
FEMA Release: Declared Disaster for Tennessee
ZIP Code List for FEMA Declared Disaster for Tennessee
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
FEMA Declared Disaster Kentucky
FEMA Alert Update
August 1, 2019
FEMA issued an update to a Presidential Major Disaster Declaration for areas in Kentucky affected by severe storms, straight-line winds, flooding, landslides and mudslides that took place February 6 to March 10, 2019. The following county is eligible for assistance:
Public Assistance
|
FEMA Release: Declared Disaster Amendment for Kentucky
ZIP Code List for FEMA Declared Disaster for Kentucky
FEMA Alert Update
May 24, 2019
FEMA issued an update to a Presidential Major Disaster Declaration for areas in Kentucky affected by severe storms, straight-line winds, flooding, landslides and mudslides that took place February 6 to March 10, 2019. The following counties are eligible for assistance:
Public Assistance
|
FEMA Release: Declared Disaster Amendment for Kentucky
ZIP Code List for FEMA Declared Disaster for Kentucky
FEMA Alert Update
May 8, 2019
FEMA issued an update to a Presidential Major Disaster Declaration for areas in Kentucky affected by severe storms, straight-line winds, flooding, landslides and mudslides that took place February 6 to March 10, 2019. The following county is eligible for assistance:
Public Assistance
|
FEMA Release: Declared Disaster Amendment for Kentucky
ZIP Code List for FEMA Declared Disaster for Kentucky
FEMA Alert
April 17, 2019
FEMA issued a Presidential Major Disaster Declaration for areas in Kentucky affected by severe storms, straight-line winds, flooding, landslides and mudslides that took place February 6 to March 10, 2019. The following counties are eligible for assistance:
Public Assistance
|
|
|
FEMA Release: Declared Disaster for Kentucky
ZIP Code List for FEMA Declared Disaster for Kentucky
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
FEMA Declared Disaster Alabama
FEMA Alert Update
May 6, 2019
FEMA issued an update to a Presidential Major Disaster Declaration for areas in Alabama affected by severe storms, straight-line winds, tornadoes and flooding and landslides that took place February 19 to March 20, 2019. The following counties are eligible for assistance:
Public Assistance
|
FEMA Release: Declared Disaster Amendment for Alabama (designated areas)
ZIP Code List for FEMA Declared Disaster for Alabama
FEMA Alert
April 17, 2019
FEMA issued a Presidential Major Disaster Declaration for areas in Alabama affected by severe storms, straight-line winds, tornadoes and flooding and landslides that took place February 19 to March 20, 2019. The following counties are eligible for assistance:
Public Assistance
|
FEMA Release: Declared Disaster for Alabama
ZIP Code List for FEMA Declared Disaster for Alabama
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
FHFA: Dr. Mark Calabria Sworn In as Director
Investor Update
April 15, 2019
Source: FHFA
Additional Resource:
FHFA (Statement of Acting Director Joseph Otting)
Washington, D.C. – In an Agency ceremony, Dr. Mark A. Calabria was sworn in today to a five-year term as the second Senate-confirmed Director of the Federal Housing Finance Agency (FHFA). Dr. Calabria was appointed to head the Agency by President Donald J. Trump. FHFA was created by the Housing and Economic Recovery Act (HERA) of 2008 to oversee Fannie Mae, Freddie Mac and the Federal Home Loan Bank System and is responsible for oversight of the $6.3 trillion mortgage finance market.
FHFA: Adolfo Marzol Announced as Principal Deputy Director
Investor Update
April 16, 2019
Source: FHFA
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced that Adolfo Marzol has been appointed Principal Deputy Director of FHFA effective April 15, 2019. Marzol will report to FHFA Director Mark Calabria.
Marzol is an experienced financial and risk management professional in the mortgage finance industry. Prior to joining FHFA, Marzol served for two years as Senior Advisor for Housing to HUD Secretary Dr. Ben Carson, where he advised on Federal Housing Administration and Ginnie Mae programs, as well as housing finance reform.
Marzol has over 30 years of private sector experience in mortgage finance, including senior-level positions at Essent, Fannie Mae, Chase Mortgage and Equitable Mortgage. Marzol’s diverse background includes extensive experience in the areas of mortgage origination and securitization, mortgage servicing, credit risk management, financial management and reporting, policy and governance, and public policy developments related to housing finance. Born in Cuba, he is a graduate of the University of Florida and holds a BSBA in Economics and a Master’s degree in Finance. Marzol has been married for 35 years and has two children.
“I am very pleased that Adolfo will be joining FHFA in such an important capacity. His depth and breadth of experience in both the private sector and government will help us maintain FHFA as a world-class regulator,” said FHFA Director Calabria.
Contacts:
Media: Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032
Consumers: Consumer Communications or (202) 649-3811
Consumers: Consumer Communications or (202) 649-3811
