FEMA Rescinds Strategic Plan

Industry Update
May 21, 2025

Source: CBS News

Less than two weeks until the official start of the Atlantic hurricane season, Federal Emergency Management Agency acting Administrator David Richardson has rescinded the agency’s strategic plan, a comprehensive policy document that outlines the disaster relief agency’s priorities.

In a short memo sent to FEMA employees on Wednesday and obtained by CBS News, Richardson wrote, “The 2022-2026 FEMA Strategic Plan is hereby rescinded. The Strategic Plan contains goals and objectives that bear no connection to FEMA accomplishing its mission. This summer, a new 2026-2030 strategy will be developed. The strategy will tie directly to FEMA executing its Mission Essential Tasks.”

The memo authored by Richardson was brief — the new agency head now requires that all FEMA memos to, from or for his office be no longer than one page in length, according to multiple current FEMA employees.

FEMA did not immediately respond to a CBS News request for comment.

Wired was the first to report that the plan had been rescinded.

Less than two weeks until the official start of the Atlantic hurricane season, Federal Emergency Management Agency acting Administrator David Richardson has rescinded the agency’s strategic plan, a comprehensive policy document that outlines the disaster relief agency’s priorities.

In a short memo sent to FEMA employees on Wednesday and obtained by CBS News, Richardson wrote, “The 2022-2026 FEMA Strategic Plan is hereby rescinded. The Strategic Plan contains goals and objectives that bear no connection to FEMA accomplishing its mission. This summer, a new 2026-2030 strategy will be developed. The strategy will tie directly to FEMA executing its Mission Essential Tasks.”

The memo authored by Richardson was brief — the new agency head now requires that all FEMA memos to, from or for his office be no longer than one page in length, according to multiple current FEMA employees.

FEMA did not immediately respond to a CBS News request for comment.

Wired was the first to report that the plan had been rescinded.

One FEMA official described the strategic plan to CBS News as the agency’s “organizational backbone.”

“Without it, there are just a bunch of offices doing whatever they feel like doing,” the official said.

The strategic plan, which was published in December 2021 under former administrator Deanne Criswell, was set to expire in 2026. The plan no longer appears on FEMA’s website.

Criswell, in a news release at the time the plan was published, laid out three main goals for the agency: “Instill Equity as a Foundation of Emergency Management,” “Lead Whole of Community in Climate Resilience” and “Promote and Sustain a Ready FEMA and Prepared Nation.”

The official told CBS News Richardson is now trying to figure out how to operate FEMA so that it does nothing more or less than what the law requires. Part of that includes nixing the agency’s Office of Resilience Strategy.

“That office exists to figure out how to maximize efficacy of publicly spent money on projects that build a resilient infrastructure that can withstand disaster events,” the official said. “Without that guiding star, FEMA will operate as triage instead of actually trying to mitigate future damage before it happens.”

The official compared the removal of the ORS to people relying solely on emergency rooms for health care rather than also getting preventative care.

“A primary care physician would’ve been able to tell you that you have a disease that makes your blood not clot properly. Pulling the Office of Resilience Strategy out of the equation means that you’ll bleed out and die from a paper cut because nobody was around to tell you that your life was at risk in the first place,” the said.

The move to rescind the strategic plan comes a little over a week after an internal agency presentation featured a slide that noted, “As FEMA transforms to a smaller footprint, the intent for this hurricane season is not well understood, thus FEMA is not ready.”

A Department of Homeland Security official told CBS News in response that FEMA is “fully activated in preparation for Hurricane Season,” and described the assessment as “one line in a nineteen-page slide deck and the unsubstantiated opinion of one official inside the agency.”

The presentation also cited “culture issues,” staffing shortages and problems coordinating with other federal agencies among the issues it was contending with.

President Trump, who has been critical of how the agency responded to past disasters, has suggested transforming it into a “support agency” that largely defers to the states or scrapping FEMA entirely.

Richardson has been FEMA’s acting administrator for less than two weeks, replacing the agency’s former acting head, Cameron Hamilton, who was fired by the Trump administration after he told lawmakers he doesn’t believe eliminating FEMA is in the country’s “best interests.”

 

For full report, please click the source link above.

 

Climate Change Could Drive Flood of Foreclosures, Study Finds

Industry Update
May 23, 2025

Source: Yahoo! News/CBS News

Extreme weather linked to climate change could spell financial ruin for many American homeowners and lead to billions in losses for lenders, a new study finds.

First Street, a research firm that studies the impact of climate change, projects in an analysis released Monday that foreclosures across the U.S. caused by flooding, wind and other weather-related incidents could soar 380% over the next 10 years. By 2035, climate-driven events could account for up to 30% of all foreclosures by 2035, up from roughly 7% this year.

Low- to moderate-income households are particularly vulnerable to the effect of severe weather on their homes, First Street noted. Much of Americans’ wealth is tied up in the value of their properties.

A cascade of foreclosures, driven by the mounting costs of repairs and rising insurance premiums stemming from extreme weather,  wouldn’t only hurt homeowners. First Street estimates lenders will lose $1.2 billion a year in 2025 — and up to $5.4 billion in 10 years — as they are forced to absorb the cost of mortgage defaults.

Such losses represent the “hidden risks” of climate change that lenders often fail to account for in their underwriting practices, Jeremy Porter, head of climate implications at First Street, told CBS MoneyWatch. Lenders consider factors including a borrower’s income, debt and credit score in issuing mortgages, but not the potential impact of extreme weather on a property or how it could raise premiums.

Climate-driven foreclosures could cost lenders $5.4 billion in 10 years

First Street also looked at how indirect factors, like rising insurance premiums, are already shaping foreclosure trends. For every 1% increase in insurance costs, the firm projects a roughly 1% increase in the foreclosure rate nationwide.

The findings comes as insurers are jacking up the cost of homeowners policies and in some cases exiting markets around the U.S. altogether, leading to spottier coverage in disaster-prone areas like California. That could leave more individual homeowners on the hook for damage from extreme weather.

First Street said integrating climate risk into loan assessments could help lenders – and homeowners – be better prepared for weather-related disasters. But it could also tighten lending conditions, Porter said, putting potential homebuyers at a disadvantage.

“It’s going to increase the price of homes. It’s going to increase interest rates,” he said.

According to First Street, the communities around the U.S. at greatest risk for climate-related foreclosures in the years to come are densely populated areas with high property values and large numbers of underinsured homeowners. That includes coastal areas vulnerable to storm surge and hurricane winds.

 

For full report, please click the source link above.

 

ICE First Look at Mortgage Performance: Foreclosure Activity Edges Higher Following Recent Record Lows

Industry Update
May 23, 2025

Source: ICE Mortgage Technology

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today released its April 2025 First Look, which shows U.S. Department of Veterans Affairs (VA) mortgages progressing through the foreclosure pipeline following the recent moratorium expiration.

The ICE First Look reports on month-end delinquency, foreclosure and prepayment statistics sourced from its loan-level database, which covers a majority of the U.S. mortgage market. Key takeaways from this month’s findings include:

The national delinquency rate ticked up 1 basis point (bp) to 3.22% in April and is up a modest 13 bps (4.1%) from the same time last year. Still, delinquencies remain below pre-pandemic levels.

Serious delinquencies – loans 90+ days past due but not in foreclosure – improved seasonally but rose 14% from April 2024 marking the sixth consecutive month of 10%+ annual increases.

While foreclosure activity remains muted, foreclosure starts (+13%), sales (+9%), and active inventory (+4%) all rose on an annual basis for the second consecutive month.

April’s 6,500 foreclosure sales marked the largest single-month volume in 15 months, with VA sales, which account for the bulk of the recent rise, hitting their highest level since 2019.

Prepayment activity, measured in single month mortality, jumped to 0.71%, the highest level since October. This rise was driven by stronger home sale and refinance-related prepayments, which grew +19.0% over the previous month and +34.9% over the previous year.

 

For full report, please click the source link above.

 

FEMA Major Disaster Declaration – Missouri Severe Storms, Straight-line Winds, Tornadoes, and Flooding

FEMA Alert
May 21, 2025 

***LAST UPDATE: 7/9/25***

FEMA has issued a Major Disaster Declaration for the state of Missouri to supplement state, tribal, and local recovery efforts in areas affected by severe storms, straight-line winds, tornadoes, and flooding from March 30 – April 8, 2025.  The following counties have been approved for assistance:

 

Public Assistance:

  • Bollinger
  • Butler
  • Cape Girardeau
  • Carter
  • Cooper
  • Douglas
  • Dunklin
  • Howell
  • Iron
  • Madison
  • Maries
  • Mississippi
  • New Madrid
  • Oregon
  • Ozark
  • Pemiscot
  • Reynolds
  • Ripley
  • Scott
  • Shannon
  • Ste. Genevieve
  • Stoddard
  • Texas
  • Vernon
  • Wayne
  • Webster

 

Missouri Severe Storms, Straight-line Winds, Tornadoes, and Flooding (DR-4872-MO)

Map of Affected Areas

President Donald J. Trump Approves Major Disaster Declaration for Missouri

List of Affected Zip Codes

 

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 Major Disaster Declaration – Kentucky Severe Storms, Straight-line Winds, and Tornadoes

FEMA Alert
May 23, 2025 

***LAST UPDATE: 7/29/25***

FEMA has issued a Major Disaster Declaration for the state of Kentucky to supplement state, tribal, and local recovery efforts in areas affected by severe storms, straight-line winds, and tornadoes from May 16-17, 2025.  The following counties have been approved for assistance:

 

Individual Assistance:

  • Caldwell
  • Laurel
  • Pulaski
  • Russell
  • Trigg
  • Union

Public Assistance:

  • Adair
  • Allen
  • Barren
  • Breathitt
  • Butler
  • Caldwell
  • Carlisle
  • Casey
  • Christian
  • Clay
  • Clinton
  • Crittenden
  • Cumberland
  • Estill
  • Jackson
  • Knott
  • Knox
  • Larue
  • Laurel
  • Lee
  • Livingston
  • Logan
  • Lyon
  • Marshall
  • McCreary
  • Menifee
  • Metcalfe
  • Owsley
  • Powell
  • Pulaski
  • Rockcastle
  • Russell
  • Spencer
  • Todd
  • Trigg
  • Union
  • Warren
  • Wayne
  • Whitley

 

Kentucky Severe Storms, Straight-line Winds, and Tornadoes (DR-4875-KY)

Map of Affected Areas

President Donald J. Trump Approves Major Disaster Declaration for Kentucky

List of Affected Zip Codes

 

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 Fire Management Assistance Declaration – Arizona Cody Fire

FEMA Alert
May 22, 2025

FEMA has issued a Fire Management Assistance Declaration for the state of Arizona to supplement state, tribal and local recovery efforts in areas affected by the Cody Fire on May 22, 2025.  The following counties have been approved for assistance:

Public Assistance:

  • Pinal

 

Arizona Cody Fire (FM-5585-AZ)

List of Affected Zip Codes

 

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 Major Disaster Declaration – Nebraska Severe Winter Storm and Straight-line Winds

FEMA Alert
May 21, 2025 

***LAST UPDATE: 7/9/25***

FEMA has issued a Major Disaster Declaration for the state of Nebraska to supplement state, tribal, and local recovery efforts in areas affected by a severe winter storm and straight-line winds from March 18-19, 2025.  The following counties have been approved for assistance:

 

Public Assistance:

  • Boone
  • Burt
  • Butler
  • Cass
  • Clay
  • Colfax
  • Cuming
  • Dakota
  • Dodge
  • Douglas
  • Fillmore
  • Hamilton
  • Jefferson
  • Johnson
  • Lancaster
  • Nuckolls
  • Otoe
  • Platte
  • Polk
  • Saline
  • Sarpy
  • Saunders
  • Seward
  • Thayer
  • Thurston
  • Washington
  • Webster
  • York

 

Nebraska Severe Winter Storm and Straight-line Winds (DR-4868-NE)

Map of Affected Areas

President Donald J. Trump Approves Major Disaster Declaration for Nebraska

List of Affected Zip Codes

 

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 Major Disaster Declaration – Arkansas Severe Storms, Tornadoes, and Flooding

FEMA Alert
May 21, 2025 

***LAST UPDATE: 7/9/25***

FEMA has issued a Major Disaster Declaration for the state of Arkansas to supplement state, tribal, and local recovery efforts in areas affected by severe storms, tornadoes, and flooding from April 2-22, 2025.  The following counties have been approved for assistance:

Individual Assistance:

  • Clark
  • Clay
  • Craighead
  • Crittenden
  • Desha
  • Fulton
  • Greene
  • Hot Spring
  • Jackson
  • Miller
  • Ouachita
  • Pulaski
  • Randolph
  • Saline
  • Sharp
  • St. Francis
  • White

 

Public Assistance:

  • Clark
  • Clay
  • Craighead
  • Crittenden
  • Cross
  • Dallas
  • Desha
  • Fulton
  • Garland
  • Greene
  • Hempstead
  • Hot Spring
  • Izard
  • Jackson
  • Lafayette
  • Lawrence
  • Lee
  • Little River
  • Lonoke
  • Marion
  • Miller
  • Mississippi
  • Monroe
  • Montgomery
  • Nevada
  • Newton
  • Pike
  • Poinsett
  • Prairie
  • Pulaski
  • Randolph
  • Saline
  • Scott
  • Searcy
  • Sevier
  • Sharp
  • St. Francis
  • Stone
  • Woodruff

 

Arkansas Severe Storms, Tornadoes, and Flooding (DR-4873-AR)

Map of Affected Areas

President Donald J. Trump Approves Major Disaster Declaration for Arkansas

List of Affected Zip Codes

 

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 Major Disaster Declaration – Oklahoma Wildfires and Straight-line Winds

FEMA Alert
May 21, 2025 

FEMA has issued a Major Disaster Declaration for the state of Oklahoma to supplement state, tribal, and local recovery efforts in areas affected by wildfires and straight-line winds from March 14-21, 2025.  The following counties have been approved for assistance:

Individual Assistance:

  • Cleveland
  • Creek
  • Lincoln
  • Logan
  • Oklahoma
  • Pawnee
  • Payne

 

Oklahoma Wildfires and Straight-line Winds (DR-4866-OK)

Map of Affected Areas

President Donald J. Trump Approves Major Disaster Declaration for Oklahoma

List of Affected Zip Codes

 

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 Major Disaster Declaration – Missouri Severe Storms, Straight-line Winds, Tornadoes, and Wildfires

FEMA Alert
May 21, 2025 

***LAST UPDATE: 5/27/25***

FEMA has issued a Major Disaster Declaration for the state of Missouri to supplement state, tribal, and local recovery efforts in areas affected by severe storms, straight-line winds, tornadoes and wildfires from March 14-15, 2025.  The following counties have been approved for assistance:

 

Individual Assistance:

  • Bollinger
  • Butler
  • Camden
  • Carter
  • Franklin
  • Howell
  • Iron
  • Jefferson
  • Oregon
  • Ozark
  • Perry
  • Phelps
  • Reynolds
  • Ripley
  • St. Louis
  • Wayne
  • Webster
  • Wright

 

Public Assistance:

  • Bollinger
  • Butler
  • Callaway
  • Camden
  • Carter
  • Dunklin
  • Franklin
  • Howell
  • Iron
  • Madison
  • New Madrid
  • Oregon
  • Ozark
  • Perry
  • Phelps
  • Reynolds
  • Ripley
  • Scott
  • Shannon
  • Stoddard
  • Wayne

 

Missouri Severe Storms, Straight-line Winds, Tornadoes, and Wildfires (DR-4867-MO)

Map of Affected Areas

President Donald J. Trump Approves Major Disaster Declaration for Missouri

List of Affected Zip Codes

 

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