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FEMA Declared Disaster California

Posted on April 24, 2019May 2, 2019 by Safeguard

FEMA Alert
May 1, 2019

FEMA issued a Presidential Major Disaster Declaration for areas in California affected by severe winter storms, flooding, landslides and mudslides that took place February 13-15, 2019.

The following counties are eligible for assistance:

Public Assistance

Calaveras
Colusa
Marin
Maiposa
Mendocino
Modoc
Napa
Riverside
Santa Barbara
Shasta
Trinity

FEMA Release: Declared Disaster for California

ZIP Code List for FEMA Declared Disaster for California

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

Urban Institute: Options for Reforming the Mortgage Servicing Compensation Model

Posted on April 24, 2019April 24, 2019 by Safeguard

Industry Update
April 19, 2019

Source: Urban Institute (Options for Reforming the Mortgage Servicing Compensation Model full report)

Abstract

In this brief, the fifth in a series prepared by HFPC researchers with support from the mortgage servicing collaborative, the authors examine three options for the mortgage servicing compensation structure: (1) retain the status quo, (2) move to a fee-for-service model, and (3) move to a central default utility model. The authors discuss the pros and cons of each scenario and assess how each option would perform under various conditions. The authors do not recommend a single option, but articulate considerations of each to help inform future policy discussions on mortgage servicing compensation. There are differing views on the issue, where some suggest servicing compensation must be changed to better align servicing costs and revenues for performing and nonperforming loans in a manner that will improve outcomes for servicers and consumers, while others believe that the present compensation model, coupled with post-crisis reforms and the recommendations from the previous MSC briefs, can promote an efficient servicing market with minimal risk of disruption.

For full report, please click on the source link above.

FHFA: Foreclosure Prevention Report – January 2019

Posted on April 24, 2019April 24, 2019 by Safeguard

Investor Update
April 23, 2019

Source: FHFA

January 2019 Highlights

The Enterprises’ Foreclosure Prevention Actions:

• The Enterprises completed 13,589 foreclosure prevention actions in January, bringing the total to 4,297,425 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.

• There were 8,446 permanent loan modifications in January, bringing the total to 2,322,567 since the conservatorships began in September 2008.

• Thirty-one percent of modifications in January were modifications with principal forbearance. Modifications with extend-term only accounted for 62 percent of all loan modifications during the month.

• There were 574 short sales and deeds-in-lieu of foreclosure completed in January, down slightly compared with December.

The Enterprises’ Mortgage Performance:

• The serious delinquency rate increased slightly from 0.73 percent at the end of December to 0.74 percent at the end of January.

The Enterprises’ Foreclosures:

• Third-party and foreclosure sales increased from 3,206 in December to 4,070 in January.

• Foreclosure starts decreased from 12,440 in December to 12,121 in January.

Attachments:

Foreclosure Prevention Report – January 2019

VA: VALERI Special Announcement

Posted on April 23, 2019April 24, 2019 by Safeguard

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

Posted on April 23, 2019April 23, 2019 by Safeguard

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

MHA Loan State Change Request Process

Fannie Mae: New Bankruptcy and Foreclosure Course for Servicers

Posted on April 23, 2019April 23, 2019 by Safeguard

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

Posted on April 19, 2019April 19, 2019 by Safeguard

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

Posted on April 18, 2019May 20, 2019 by Safeguard

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

Anderson
Lawrence
Loudon

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

Bedford
Bledsoe
Blount
Campbell
Carter
Cheatham
Claiborne
Clay
Cocke
Coffee
Decatur
DeKalb
Dickson
Dyer
Fentress
Gibson
Giles
Grainger
Greene

Hamblen
Hamilton
Hancock
Hardin
Hawkins
Hickman
Houston
Humphreys
Jackson
Jefferson
Johnson
Knox
Lake
Lauderdale
Lewis
Lincoln
Marion
Marshall
McNairy

Moore
Morgan
Obion
Overton
Perry
Rhea
Roane
Roberston
Scott
Sequatchie
Sevier
Smith
Tipton
Unicoi
Union
Van Buren
Warren
Wayne

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

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 Kentucky

Posted on April 18, 2019August 6, 2019 by Safeguard

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

Hickman

FEMA Release: Declared Disaster Amendment for Kentucky

ZIP Code List for FEMA Declared Disaster for Kentucky

FEMA Alert Update
May 24, 2019

Public Assistance

Nicholas
Owen

FEMA Release: Declared Disaster Amendment for Kentucky

ZIP Code List for FEMA Declared Disaster for Kentucky

FEMA Alert Update
May 8, 2019

Public Assistance

Fulton

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

Adair
Ballard
Bell
Boyd
Breathitt
Butler
Campbell
Carlisle
Carroll
Carter
Casey
Clay
Crittenden
Cumberland
Edmonson
Elliott
Estill
Floyd
Grant

Greenup
Hancock
Harlan
Henderson
Henry
Jackson
Johnson
Knott
Knox
Laurel
Lawrence
Lee
Leslie
Letcher
Livingston
Madison
Magoffin
Marion
Marshall

Martin
McCracken
McCreary
Metcalfe
Morgan
Owsley
Pendleton
Perry
Pike
Powell
Rockcastle
Russell
Trigg
Union
Washington
Wayne
Webster
Whitley
Wolfe

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

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 Alabama

Posted on April 18, 2019May 7, 2019 by Safeguard

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

Blount
Greene

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