Investor Update
May 6, 2019
Source: FHFA
Freddie Mac: A New Way to Experience Single-Family Business Coming Soon
Investor Update
May 1, 2019
Source: Freddie Mac
As part of our ongoing commitment to doing better business with you, we’re creating a more robust and modern digital user experience. We’re excited to announce that we are launching a redesigned Single-Family website this Spring, which will include an enhanced Single-Family Seller/Servicer Guide (Guide).
Everything Your Business Needs – All in One Place
• Easy-to-find interactive tools and industry resources
Relevant site content organized by function to help you find the right products and tools for your business, including direct access to the Guide
• News & insights by industry leaders. Access to Freddie Mac thought leadership pieces and key data on industry trends
• Improved search and results. Enhanced search capabilities make it easy to find relevant topics and training on the Single-Family website and specific content within the Guide
• Optimized for mobile use. Seamless access to the Single-Family website and the Guide on the go from any mobile device
There will not be any changes to our requirements upon launching the enhanced Guide. We will continue to announce requirement changes in our Guide Bulletins, which will be available on both the Single-Family website and AllRegs®.
The Guide on AllRegs will remain the official electronic version until further notice.
For More Information
• Watch this quick video.
• Read our Frequently Asked Questions [pdf] for more details.
• Contact the Customer Support Contact Center (800-FREDDIE).
FEMA Declared Disaster Oregon
FEMA Alert
May 2, 2019
FEMA issued a Presidential Major Disaster Declaration for areas in Oregon affected by severe winter storms, flooding, landslides and mudslides that took place February 23-26, 2019.
The following counties are eligible for assistance:
Public Assistance
|
FEMA Release: Declared Disaster for Oregon
ZIP Code List for FEMA Declared Disaster for Oregon
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
VFSAC Golf Classic Supports Military Veterans’ American Dream
Safeguard in the News
April 24, 2019
Source: MReport
The Veterans Financial Services Advisory Council (VFSAC), an organization that helps veterans and their families in search of support related to housing and critical services, is holding its First Annual VFSAC Golf Classic this May.
The tournament, which will be held at Stonebriar Country Club in Frisco, Texas, on May 14, will bring together industry leaders as they hit the greens to support our nation’s military families. All the proceeds from this tournament will be donated to Operation Homefront, a national 501(c)(3) that partners with VFSAC to address the ongoing housing needs of veterans and their families.
Former Wells Fago executive and VFSAC council member JK Huey told DS News, “I’ve participated in many golf tournaments over the past 30 years, and while many of them were for very good causes, this is one that I’m most proud of and excited about.”
Founded by Five Star Global President and CEO Ed Delgado in 2016, VFSAC’s Executive Council includes leaders from Auction.com, Alacrity Services, Aspen Grove Solutions, Five Brothers Asset Management, The Five Star Institute, Home Depot, Operation Homefront, Rushmore Loan Management Services, Safeguard Properties, and ServiceMac. The organization’s current Chair is Terry Smith, CEO for Rushmore Loan Management Services LLC.
The organization’s ongoing initiatives include the “Homes on the Homefront” program that provides mortgage-free homes to veterans and their families looking to reintegrate into the civilian community. Through this plan, VFSAC receives industry donations of distressed residential assets in an “as-is” condition. Through a collaborative effort, it conducts repairs and necessary rehab to restore these homes into a move-in-ready condition for veterans. The program also accepts rehabbed homes from investors, asset management companies, and mortgage companies. Once these homes are move-in ready, they become available as mortgage-free homes to qualified veteran families.
Sponsors for the 2019 VFSAC Golf Classic include ALAW; Aspen Grove Solutions; Auction.com; Carrington; Five Brothers Asset Management; Ginali Associates; Goldman Sachs; Google; LoanCare; National Field Representatives, Inc.; Novare National Settlement Service (A Division of Fidelity National Title); Prominent Escrow Services, Inc. and FIN Title; RSMA Law; Rushmore Cares; Safeguard; ServiceLink; Xome; and York-Jersey Underwriters.
To register for the tournament, click here. You can learn more about sponsorship opportunities here.
Editor’s note: Although VFSAC was founded by Five Star Global President and CEO Ed Delgado, it is an independent working group and is not affiliated with Five Star Global, Five Star Institute, or any of its companies.
FEMA Declared Disaster Sac & Fox Tribe of the Mississippi in Iowa
FEMA Alert
April 29, 2019
FEMA issued a Presidential Major Disaster Declaration for the Sac & Fox Tribe of the Mississippi in Iowa as a result of severe storms and flooding that took place March 13 to April 1, 2019. The following tribal area is eligible for assistance:
Public Assistance
|
NOTE: Tribal areas are approximate and may be incomplete.
FEMA Release: Declared Disaster for Sac & Fox Tribe of the Mississippi in Iowa
ZIP Code List for FEMA Declared Disaster for Sac & Fox Tribe of the Mississippi in Iowa
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
NYDFS Launches Consumer Protection and Financial Enforcement Division
Industry Alert
April 29, 2019
Source: New York Department of Financial Services
Additional Resources:
insideARM (NYDFS Launches New “Powerhouse” Consumer Protection and Enforcement Division)
HousingWire (New York Launches its Own CFPB)
Acting Department of Financial Services (DFS) Superintendent Linda A. Lacewell today announced that Katherine A. Lemire has been appointed as Executive Deputy Superintendent of the Department’s newly created Consumer Protection and Financial Enforcement Division. The new division combines the previously separate Enforcement and Financial Frauds and Consumer Protection divisions.
“As a highly respected and experienced prosecutor, compliance and regulatory professional, Katie is well-positioned to successfully marshal the extensive resources of the Department’s Enforcement and Financial Frauds and Consumer Protection divisions to deliver real results for New Yorkers,” said Acting Superintendent Lacewell. “DFS’s new Consumer Protection and Financial Enforcement Division will be a powerhouse, and Katie’s knowledge and skillset will greatly strengthen the Department’s mandate to guard against financial crises and to protect consumers and markets from fraud.”
Prior to her appointment at DFS, Ms. Lemire was a partner at StoneTurn, an international consulting firm providing compliance and investigative services. Before joining StoneTurn, Ms. Lemire founded and oversaw a risk and compliance firm, Lemire LLC, which merged into StoneTurn.
Katie Lemire said, “Given the paramount importance of consumer protection and regulatory oversight in the financial marketplace, I look forward to once again re-entering public service and serving the best interests of New Yorkers, while utilizing the expertise and dedication of DFS staff and resources of the Department.”
Ms. Lemire served as an Assistant United States Attorney in the Southern District of New York where she investigated complex federal crimes, including allegations of public corruption, racketeering, fraud, and other white-collar crimes. Ms. Lemire also served as a prosecutor in the Manhattan District Attorney’s Office, where she investigated and prosecuted a broad array of criminal cases from grand jury proceedings through trial.
In addition, Ms. Lemire has served as Counsel and principal advisor to New York Police Commissioner Raymond W. Kelly, where she managed a broad portfolio of operational, legal, and managerial matters for an agency comprised of over 53,000 employees.
Ms. Lemire is the recipient of numerous awards, including the New York Federal Executive Board Award (2008), presented by United States Attorney General as well as the Above & Beyond Award for Outstanding Women in Business (2017).
DFS’s Consumer Protection and Financial Enforcement Division is responsible for protecting and educating consumers and fighting consumer fraud, as well as ensuring that regulated entities comply with New York and federal law in relation to their activities serving the public. It is also responsible for developing investigative leads and intelligence in furtherance of the Department’s efforts to enforce the Banking, Insurance and Financial Services laws, with particular focus on the review and response to cybersecurity events and the development of supervisory, regulatory and enforcement policy and direction in the area of financial crimes. Consumer Protection and Financial Enforcement encompasses the Enforcement Division; Investigations and Intelligence Division; Civil Investigations Unit; the Producers Unit; the Consumer Examinations Unit; the Student Protection Unit; and the Holocaust Claims Processing Office.
Matthew L. Levine continues to serve as Executive Deputy Superintendent, Enforcement.
Mortgage Servicing Professionals Meet With HUD for Policy Discussion
Industry Update
April 25, 2019
Source: DS News
Capping off a week of meetings between mortgage servicing professionals and related government agencies in Washington, D.C., on Thursday, representatives from the National Mortgage Servicing Association’s (NMSA) Joint Federal Agency Task Force met with HUD for a collaborative discussion about the future of the industry.
The NMSA Task Force group met with government officials at HUD’s headquarters to discuss the pressing issues facing the mortgage servicing sector, including matters related to the servicing of FHA loans.
The Task Force meeting followed Wednesday’s general assembly of the NMSA membership, which included the announcement of Wes Iseley, Senior Managing Director at Carrington Mortgage Holdings, as the group’s incoming Chair, taking over from outgoing Chair Ray Barbone, EVP of Mortgage Services for BankUnited. The NMSA meeting also included a legal update presentation from Legal League 100 Chair Roy Diaz, who discussed matters such as the Supreme Court’s recent ruling in the case of Obduskey v. McCarthy & Holthus LLP, which found that businesses engaged in nonjudicial foreclosure proceedings are not considered “debt collectors” under the Fair Debt Collection Practices Act.
Iseley told DS News, “NMSA members had a productive meeting with Brian Montgomery, Assistant Secretary of Housing and Urban Development for Housing and Commissioner of the Federal Housing Administration, and his staff, to discuss recommendations to benefit FHA’s Mutual Mortgage Insurance Fund, the industry, and homeowners. The NMSA membership looks forward to continued discussions towards advancing these and other important recommendations.”
“Today’s meeting was a productive and important step in continuing to address the challenges facing the industry,” said Ed Delgado, President & CEO of Five Star Global. “We thank HUD and Commissioner Montgomery for their commitment to homeownership and look forward to a continuing dialog in order to best support the needs of the American homeowner.”
Thursday’s meeting wrapped up a week of events that began on Tuesday with the 10th annual Five Star Government Forum at the Newseum, where leaders from the mortgage industry engaged in an open dialogue with their government peers, including representatives from HUD, Fannie Mae, Freddie Mac, CFPB, the Department of the Treasury, Ginnie Mae, and FHFA.
The Government Forum included a full lineup of presentations, discussion, and education, including keynote addresses from both HUD Secretary Dr. Benjamin Carson and The Hon. Brian D. Montgomery, Acting Deputy Secretary and Assistant Secretary for Housing-Federal Housing Commissioner, HUD.
FHFA: Fannie Mae/Freddie Mac 2018 Scorecard Progress Report
Investor Update
April 26, 2019
Source: FHFA
Washington, D.C. – The Federal Housing Finance Agency (FHFA) issued a Scorecard Progress Report today summarizing the 2018 activities of Fannie Mae and Freddie Mac (the Enterprises) to further FHFA’s three strategic objectives as conservator: Maintain, Reduce, and Build.
New Jersey Bill Aims to Allow Municipal Property Registration
Legislation Update
April 24, 2019
Source: New Jersey Legislature (S3482 information/full text))
Sponsored by:
Senator SAMUEL D. THOMPSON
District 12 (Burlington, Middlesex, Monmouth and Ocean)
SYNOPSIS
Permits municipalities to require registration of vacant and abandoned
properties and use registration fee proceeds to maintain these properties.
For full bill text, please click the source link above.
Fannie Mae: Property Preservation Updates
Investor Update
April 23, 2019
Source: Fannie Mae (Property Preservation Matrix and Reference Guide)
Revisions for April 2019
The Property Preservation Matrix and Reference Guide has been updated.
Revisions include, but are not limited to, the pages noted below. Servicers must comply with all requirements of the Property Preservation Matrix and Reference Guide even if not referenced as a change in the section below.
For full guide, please click the source link above.