Page 286 – Safeguard Properties

Fannie Mae: Document-Free Expense Reimbursement; Know Your Options Training; and More

Posted on September 13, 2018October 9, 2018 by Safeguard

Investor Update
September 5, 2018

Coming soon – document-free expense reimbursement and self-service reporting

Expense reimbursements are about to get faster and easier. On Sept. 24, we’re introducing a new approach to expense reimbursement as part of our commitment to Simplifying Servicing™. In addition to document-free reimbursement claim submissions, you’ll soon have access to a new expense reimbursement dashboard, which will provide a single location for centralized reporting of claim, inquiry, and excess fee approval information. Visit the Simplifying Servicing page to stay up to date on these exciting enhancements.

Know Your Options Customer CARE live training

By popular demand, our Know Your Options™ Customer CARE (KYOCC) 7-step call flow training is now available to all servicers. Please join us for this interactive learning opportunity that will offer managers guidance on establishing consultative customer relationships by developing rapport, maintaining quality right party contact, and properly positioning available workout solutions. Space is limited, so sign up today for the Sept. 11 webinar.

Join us at these upcoming events:

View more events.

Recent Tweets

From stabilizing our company to helping our customers better serve Americans, we’ve come a long way under our CEO Tim Mayopoulos. Via @HousingWire: https://t.co/3cBMnVMYr9

Sept. 5

Simplify your lending journey from day 1. Find out how #Day1Certainty can help with asset, income, and employment validation. http://bit.ly/2NjFeMs

Sept. 5

USDA: Proposed Rule – Streamlining the Loss Claims Process

Posted on September 13, 2018September 13, 2018 by Safeguard

Investor Update
August 23, 2018

Source: USDA

On August 23, 2018, a Proposed Rule was published in the Federal Register seeking comments on proposed changes to streamline the loss claim process for lenders who have acquired title to property through voluntary liquidation or foreclosure; clarify that lenders must comply with applicable laws, including those within the purview of the Consumer Financial Protection Bureau; and better align loss mitigation policies with those in the mortgage industry. Instructions for providing comments are included in the Federal Register Notice.

Questions regarding this announcement may be directed to SFHGLP in the Rural Housing National Office at 202-720-1452.

Help Resources

Policy Questions
Customer Service Center
Phone: 866-550-5887
Single Family Housing Guaranteed Loan Division
Phone: 202-720-1452

USDA ITS Service Desk Support Center
For e-Authentication assistance
Email: eAuthHelpDesk@ftc.usda.gov
Phone: 800-457-3642, option 1 (USDA e-Authentication Issues)

Rural Development Help Desk
For GUS system, outage or functionality assistance
Email: RD.HD@STL.USDA.GOV
Phone: 800-457-3642, option 2 (USDA Applications); then option 2 (Rural Development)

USDA: Lender Electronic Status and Default Status Correction Requirement

Posted on September 13, 2018September 13, 2018 by Safeguard

Investor Update
August 6, 2018

Source: USDA

This notification is to further remind USDA Guaranteed Loan Servicers of the new Electronic Status Reporting enhancement. Please remember that status reports for ALL loans is now required monthly instead of quarterly. Also, as part of the enhancement, servicers are required to complete Electronic Status and Default Report Corrections. Please see USDA LINC Training and Resource Library for training and the ESR User Guide, which will assist you with access to the rejects needing corrections and completing the reject corrections.

Authorized lenders will access the ESR Correction System using: https://usdalinc.sc.egov.usda.gov/

Assistance with the ESR Correction System can be directed to RD.NFAOC.HSB@stl.usda.gov or via phone 1-877-636-3789 option 1

Help Resources

Policy Questions
Customer Service Center
Phone: 866-550-5887
Single Family Housing Guaranteed Loan Division
Phone: 202-720-1452

USDA ITS Service Desk Support Center
For e-Authentication assistance
Email: eAuthHelpDesk@ftc.usda.gov
Phone: 800-457-3642, option 1 (USDA e-Authentication Issues)

Rural Development Help Desk
For GUS system, outage or functionality assistance
Email: RD.HD@STL.USDA.GOV
Phone: 800-457-3642, option 2 (USDA Applications); then option 2 (Rural Development)

MHA: Important Information on the HAMP? Reporting Tool and SSL Certificates

Posted on September 13, 2018September 13, 2018 by Safeguard

Investor Update
August 6, 2018

Source: MHA

Black Knight is changing its provider of SSL certificates from Symantec to GlobalSign based upon notification that certain browser types will no longer trust certificates associated with Symantec. These changes will be applied in the Servicer Test environments (hamptest.blackknightdna.com, hampsftptest.blackknightdna.com) Thursday, August 9, 2018 and in the Production environments (hamp.blackknightdna.com, hampsftp.blackknightdna.com) on Sunday, August 12, 2018.

What is the impact for users of the HAMP Reporting Tool?
Please consult with your organization’s technical team to determine if your browser settings require the certificates to be installed to trust the certificate chain. It’s recommended this action, if necessary, be completed no later than August 12, 2018.

What must I do?
Your IT department may download and install the certificates from the following websites:

GlobalSign Root Certificate Authority (https://secure.globalsign.net/cacert/Root-R3.crt)
GlobalSign Organization Validation CA – SHA256 – G2(https://secure.globalsign.com/cacert/gsorganizationvalsha2g2r3.crt)

Questions?
Call 1-866-939-4469: select option 1 to indicate you are a Servicer, then option 1 for Black Knight Financial Services (BKFS).

HUD: FHA INFO #18-35: Extension of HECM Foreclosure Timelines for Properties Impacted by Hurricane Maria in Affected Areas in Puerto Rico and the U.S. Virgin Islands

Posted on September 13, 2018September 13, 2018 by Safeguard

Investor Update
August 17, 2018

Source: HUD

Due to the extensive damage caused by Hurricane Maria in Puerto Rico and the U.S. Virgin Islands, the U.S. Department of Housing and Urban Development (HUD) is extending foreclosure timelines through September 15, 2018, for Home Equity Conversion Mortgages (HECM) on impacted properties in those Presidentially-Declared Major Disaster Areas (PDMDAs).

This extension is applicable only to those counties declared eligible for Individual Assistance by the Federal Emergency Management Agency (FEMA). It applies to both the initiation of foreclosures and foreclosures already in process on HECMs that become due and payable for reasons other than the death of the last surviving borrower and eligible non-borrowing spouse.

This guidance is effective immediately and is applicable to all homeowners with FHA-insured HECM mortgages whose property or place of employment is in the PDMDAs for Puerto Rico’s Hurricane Maria (FEMA-DR-4339) and U.S. Virgin Islands’ Hurricane Maria (FEMA-DR-4340).

Quick Links

View Disaster-related Mortgagee Letters at: http://portal.hud.gov/hudportal/HUDsrc=/program_offices/administration/hudclips/letters/mortgagee
View current and archived Press Releases at: https://www.hud.gov/press/press_releases_media_advisories
View the status of Incident Periods on the FEMA Disasters web page at: https://www.fema.gov/disasters

Resources

Contact the FHA Resource Center:

Visit our online knowledge base to obtain answers to frequently asked questions 24/7 at www.hud.gov/answers.
E-mail the FHA Resource Center at answers@hud.gov. Emails and phone messages will be responded to during normal hours of operation, 8:00 AM to 8:00 PM (Eastern), Monday through Friday on all non-Federal holidays.
Call 1-800-CALLFHA (1-800-225-5342). Persons with hearing or speech impairments may reach this number by calling the Federal Relay Service at 1-800-877-8339.

HUD: FHA INFO #18-34: Revised Loss Mitigation Options and Final 30-day Disaster Foreclosure Moratorium Extension for Puerto Rico and the U.S. Virgin Islands

Posted on September 13, 2018September 13, 2018 by Safeguard

Investor Update
August 16, 2018

Source: HUD

Today, the Federal Housing Administration (FHA) announced the publication of Mortgagee Letter (ML) 2018-05, which revises the order of loss mitigation options for borrowers with FHA-insured mortgages whose property and/or place of employment is in the Presidentially-Declared Major Disaster Areas (PDMDAs) of Puerto Rico Hurricane Maria (DR-4339) or U.S. Virgin Islands Hurricane Maria (DR-4340).

This ML changes existing policy by allowing mortgagees to evaluate borrowers in the affected areas for the Disaster Standalone Partial Claim before the disaster loan modification. FHA believes this change will enable more borrowers impacted by those specific disasters to get into a permanent loss mitigation solution and keep their mortgage in good standing.

Additionally, the ML provides a final 30-day foreclosure moratorium for certain FHA-insured mortgages in affected counties in Puerto Rico and the U.S. Virgin Islands that are still recovering from the devastation caused by Hurricane Maria. This moratorium will provide additional time for mortgagees to evaluate borrowers for the Disaster Standalone Partial Claim and other loss mitigation solutions in the waterfall.

Servicers are reminded of their obligation under HUD Regulation 24 CFR § 203.501 to evaluate borrowers for the full range of loss mitigation options permitted under FHA policy. FHA will continue to monitor servicers for compliance with this regulation.

Borrowers Considered for Disaster Standalone Partial Claim Before Disaster Loan Modification

The new policy announced under the ML permitting servicers to evaluate borrowers for a Disaster Standalone Partial Claim before a disaster loan modification provides for the following:

(1) allows borrowers to maintain their pre-disaster monthly principal and interest payment;
(2) retains their current interest rate and term of the FHA-insured mortgage;
(3) provides for the repayment of arrearages with a subordinate mortgage lien that is not repaid until the maturity of the FHA-insured mortgage, the sale of the property, or the payoff or non-FHA refinancing of the FHA-insured mortgage; and
(4) expands the borrower eligibility criteria for the Disaster Standalone Partial Claim first announced in ML 2018-01, dated February 22, 2018.

This guidance applies to all FHA Title II forward mortgages for those disaster-affected borrowers whose property and/or place of employment is in the following PDMDAs:

Puerto Rico – Hurricane Maria (DR-4339); and
U.S. Virgin Islands – Hurricane Maria (DR-4340).

FHA-approved mortgagees may immediately begin implementing the revised guidance in 2018-05; however, they must implement these policies no later than September 15, 2018. Additionally, the provisions in this ML may no longer be offered to borrowers on or after the MLs’ May 1, 2019, Sunset Date.

30-Day Foreclosure Moratorium

The ML also provides a 30-day foreclosure moratorium for certain FHA-insured mortgages secured by properties located in PDMDAs in Puerto Rico and the U.S. Virgin Islands that the Federal Emergency Management Agency (FEMA) has identified as “affected counties” resulting from Hurricane Maria.

This 30-day foreclosure moratorium is effective immediately and applies to the initiation of foreclosures and foreclosures already in process.

Mortgagees should carefully read ML 2018-05 for eligibility and other requirements. Also, refer to today’s Press Release for additional information.

Quick Links
View all Press Releases in the Press Room on hud.gov at: https://www.hud.gov/press/press_releases_media_advisories
View Mortgagee Letter 2018-05 and other Mortgagee Letters at: http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/letters/mortgagee

Resources
Contact the FHA Resource Center:

Visit our online knowledge base to obtain answers to frequently asked questions 24/7 at www.hud.gov/answers.
E-mail the FHA Resource Center at answers@hud.gov. Emails and phone messages will be responded to during normal hours of operation, 8:00 AM to 8:00 PM (Eastern), Monday through Friday on all non-Federal holidays.
Call 1-800-CALLFHA (1-800-225-5342). Persons with hearing or speech impairments may reach this number by calling the Federal Relay Service at 1-800-877-8339.

Freddie Mac: Reminder: Plan for MERS System Migration

Posted on September 13, 2018September 13, 2018 by Safeguard

Investor Update
August 16, 2018

Source: Freddie Mac

MERSCORP Holdings, Inc. has informed us that the MERS® System and MERS® eRegistry will be unavailable for transactions from 10 p.m. EST Thursday, September 13 to 7 a.m. EST Monday, September 17. They will be completing their migration to the Intercontinental Exchange (ICE) data centers during this time.

Please plan your loan deliveries and transfer of servicing transactions accordingly to ensure there are no impacts to loan settlements.

For questions on the MERS migration, please contact the ICE migration team at mers.support@theice.com or 770-999-4549.

Freddie Mac: Natural Disaster Relief Policies for Mortgage Assistance to Aid Those Affected by California Wildfires Released

Posted on September 13, 2018 by Safeguard

Investor Update
August 8, 2018

Source: Freddie Mac

Additional Resource:

Safeguard Properties Disaster Update Center

MCLEAN, Va., Aug. 08, 2018 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB:FMCC) confirmed today its disaster relief policies for people whose homes or places of employment have been affected by the ongoing, historic California wildfires. Freddie Mac’s disaster relief options are available to borrowers with homes in Federal Emergency Management Agency (FEMA)-declared disaster areas where individual assistance programs have been made available to affected individuals and households.

In areas where FEMA has not made individual assistance available, mortgage servicers may leverage Freddie Mac’s forbearance programs to provide immediate mortgage relief to their borrowers that have been affected by the devastating wildfires.

“Once out of harm’s way, we strongly encourage homeowners whose homes or businesses have been impacted by the devastating California wildfires to call their mortgage servicer—the company to which borrowers send their monthly mortgage payments,” said Yvette Gilmore, vice president of single-family servicer performance management at Freddie Mac. “We are committed to ensuring that homeowners receive the mortgage assistance they need to help them during this devastating tragedy.”

News Facts:

Freddie Mac disaster relief policies authorize mortgage servicers to help affected borrowers in federally-declared Major Disaster Areas where federal individual assistance programs have been extended. A list of these areas can be found on the FEMA’s website.
Freddie Mac mortgage relief options for affected borrowers in these areas include:
Suspending foreclosures by providing forbearance for up to 12 months; and
Waiving assessments of penalties or late fees against borrowers with disaster-damaged homes.
Freddie Mac is reminding servicers to consider borrowers who work in eligible disaster areas but have homes in unaffected areas for Freddie Mac’s standard relief policies, which include forbearance or mortgage modifications.
Affected borrowers should immediately contact their mortgage servicer—the company to which they send their monthly mortgage payment.
See http://www.freddiemac.com/singlefamily/service/natural_disasters.html for a description of Freddie Mac disaster relief policies.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, @FreddieMac and Freddie Mac’s blog.

MEDIA CONTACT: Chad Wandler
703-903-2446
Chad_Wandler@FreddieMac.com

Freddie Mac: As Hurricane Lane Approaches Hawaiian Islands, Freddie Mac Confirms Disaster Relief Policies

Posted on September 13, 2018 by Safeguard

Investor Update
August 23, 2018

Source: Freddie Mac

MCLEAN, Va., Aug. 23, 2018 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today reminded Servicers of its disaster relief policies for people whose homes or places of employment have been affected by Hurricane Lane. Freddie Mac’s disaster relief options become available to borrowers with homes in presidentially-declared disaster areas where the Federal Emergency Management Agency (FEMA) has made individual assistance programs available to affected individuals and households.

In areas where FEMA has not made individual assistance available, mortgage servicers may leverage Freddie Mac’s short-term forbearance programs to provide immediate mortgage relief to their borrowers that have been affected by the hurricane.

“At this time, it is important for those in the path of the storm to focus on their safety,” said Yvette Gilmore, Freddie Mac’s Vice President of Single-Family Servicer Performance Management. “Once out of harm’s way, we strongly encourage homeowners on the Hawaiian Islands whose homes or places of employment have been impacted by Hurricane Lane to call their mortgage servicer—the company to which borrowers send their monthly mortgage payments—to learn about available relief options.”

News Facts:

Freddie Mac disaster relief policies authorize mortgage servicers to help affected borrowers in federally-declared Major Disaster Areas where federal individual assistance programs have been extended. A list of these areas can be found on the FEMA’s website.
Freddie Mac mortgage relief options for affected borrowers in these areas include:
Suspending foreclosures by providing forbearance for up to 12 months;
Waiving assessments of penalties or late fees against borrowers with disaster-damaged homes; and
Not reporting forbearance or delinquencies caused by the disaster to the nation’s credit bureaus.
Freddie Mac is reminding servicers to consider borrowers who are impacted by the storm, but who live and work outside of an eligible disaster area where individual assistance has been made available, for Freddie Mac’s standard relief policies, which include forbearance or mortgage modifications.
Affected borrowers should immediately contact their mortgage servicer—the company to which they send their monthly mortgage payment.
See http://www.freddiemac.com/singlefamily/service for a description of Freddie Mac disaster relief policies.

MEDIA CONTACT: Chad Wandler
703-903-2446
Chad_Wandler@FreddieMac.com

FHFA: Results of Fannie Mae and Freddie Mac Dodd-Frank Act Stress Tests Announced

Posted on September 13, 2018 by Safeguard

Investor Update
August 7, 2018

Source: FHFA

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released a report providing the results of the annual stress tests? Fannie Mae and Freddie Mac (the Enterprises) are required to conduct under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The Dodd-Frank Act requires certain financial institutions with more than $10 billion in assets to conduct annual stress tests to determine whether they can absorb losses as a result of adverse or severely adverse economic conditions. The report, Dodd-Frank Act Stress Tests – Severely Adverse Scenario, provides updated information on possible ranges of future financial results of the Enterprises under severely adverse economic conditions.

Link to Dodd-Frank Act Stress Tests – Severely Adverse Scenario

Link to 2018 Summary Instructions and Guidance

Link to DFAST Frequently Asked Questions (FAQs)?

Contacts:
Media: Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032
Consumers: Consumer Communications or (202) 649-3811