Safeguard Properties

USDA: NEW ESR RESOURCES! Electronic Status Reporting (ESR) User Guide and Trainings Available Online!

Posted on by Safeguard

Investor Update
June 22, 2018

Source: USDA

The Single Family Housing Guaranteed Loan Division is pleased to offer a new Electronic Status Reporting  (ESR) User Guide and training opportunities to our servicing partners.  The ESR User Guide and four new on-demand ESR training modules are available online 24 hours a day for maximum convenience.  The guide, trainings, and handouts are located on the USDA LINC Training and Resource Library. 

ESR Training modules include:

  • ESR Introduction,
  • Web Reporting,
  • Electronic Data Interchange (EDI) Reporting, and
  • Rejected Records and Corrections

Training handouts are available in three formats: 
1. One full size slide per page;
2. Two slides per page; and
3. One slide per page with speaker notes.            
 
The user guide and trainings will be useful for servicing partners of all experience levels as USDA prepares to deploy the new ESR platform for monthly investor and default status reporting. 
The new ESR reporting platform will be deployed on July 1, 2018.
     
Questions regarding this announcement may be directed to the National Office Division at (202) 720-1452.
 
Thank you for your support of the Single Family Housing Guaranteed Loan Program! 

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: Foreclosure Moratorium Extended for Areas Impacted by Hurricane Maria

Posted on by Safeguard

Investor Update
June 13, 2018

Source: USDA

USDA is extending the moratorium on property foreclosures in the Presidentially Declared Disaster (PDD) areas impacted by Hurricane Maria.  In light of the severity of the damage caused by the storm, the foreclosure moratorium will be extended until September 17, 2018.
 
This extension applies to new foreclosures as well as foreclosures already initiated.  USDA guidance outlined in “Assistance in Natural Disasters” and located in Chapter 18, Section 4, 7 CFR 3555.307 of the SFHGLP Handbook requires an initial moratorium on foreclosure actions within a PDD for ninety days following the date of each PDD declaration. The extensions are intended to provide greater relief to homeowners in the PDD areas.
 
If you have any questions, please contact the USDA Rural Development Customer Service Center at (866) 550-5887 or the 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)

MHA: HAMP Update: Independence Day Holiday Support and System Availability

Posted on by Safeguard

Investor Update
June 27, 2018

Source: MHA

Due to the observance of Independence Day, the HAMP Reporting System response files will not be available between 6:00 p.m. ET on Tuesday, July 3, 2018 and 9:00 a.m. ET on Thursday, July 5, 2018; they will be sent as soon as the system is available.

During this timeframe, the HAMP Reporting Tool will be available for servicers to submit and upload HAMP loan data files, and the corresponding Black Knight response files will be provided as usual.

The HAMP Solution Center will be closed on Wednesday, July 4, 2018 and will resume operations at 9:00 a.m. ET on Thursday, July 5, 2018. Servicers may contact the HSC at any time; however, messages will be held in queue until the center reopens on Thursday.

HUD: Testimony of Dr. Ben Carson

Posted on by Safeguard

Investor Update
June 27, 2018

Source: HUD (full testimony)

INTRODUCTION

Chairman Hensarling, Ranking Member Waters, and members of this Committee, thank you for inviting me here today to testify before the House Financial Services Committee.

HUD has made tremendous progress since I last testified in October, so I am pleased to have this opportunity to update you on those developments and to discuss other innovative solutions to our nation’s housing and community development challenges.

I want to thank the members of this Committee for your support of many of HUD’s important efforts, including our mutual determination to end homelessness, our continued commitment to helping our citizens recover from unprecedented natural disasters, and our endeavor to make safe, fair, affordable, and healthy homes the foundation for human achievement, freedom, and growth.

HUD: FHA INFO #18-27: Elimination of FHA Inspector Roster

Posted on by Safeguard

Investor Update
July 3, 2018

Source: HUD (FHA INFO #18-27 full version)

Today, the Federal Housing Administration (FHA) published in the Federal Register, a final rule (Docket No. FR-5457-F-02) that streamlines the inspection requirements for FHA single family mortgage insurance by eliminating the regulations for the FHA Inspector Roster (Roster).

This final rule — which follows a February 6, 2013, proposed rule — recognizes the sufficiency and quality of inspections carried out by International Code Council (ICC) certified Combination Inspectors (CI) and Residential Combination Inspectors (RCI) and other qualified individuals. As a result, FHA acknowledges there is no longer a need to maintain and administer its own standardization process for inspectors.

This final rule becomes effective August 2, 2018.

Quick Links

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 #18-24: FHA FAQ Website Transitions to New Platform

Posted on by Safeguard

Investor Update
June 5, 2018

Source: HUD

Today, the Federal Housing Administration (FHA) announced that it is transitioning its FHA Frequently Asked Questions website to a new platform. As a result, users may experience some changes in functionality. The FHA Resource Center has posted new advanced search tips to help users better navigate the new platform.

Quick Links

Resources

Contact the FHA Resource Center:

  • Visit our online knowledge base to obtain answers to frequently asked questions 24/7 at: https://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-CALL-FHA (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: $616 Million Florida Disaster Recovery Plan Approved

Posted on by Safeguard

Investor Update
June 28, 2018

Source: HUD

Funding will target housing, infrastructure and economic development recovery

WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced he is approving a disaster recovery plan to help Floridians recover from Hurricane Irma.  In November, HUD allocated $616 million to the Sunshine State to support long-term recovery efforts.

The Florida action plan approved today is funded through HUD’s Community Development Block Grant—Disaster Recovery (CDBG-DR) Program which requires grantees to develop a thoughtful recovery program informed by local residents.  Learn more about CDBG-DR and the State’s role in long-term disaster recovery (en español).

“This funding is part of the Trump Administration’s continued commitment to helping the residents of Florida impacted by Irma to recover and rebuild their homes and their lives,” said Secretary Carson. “As we move along the road to recovery, HUD will be right by Florida’s side to help in any way we can to make the state whole again.”

Governor Rick Scott said, “It’s great news that we were able to secure critical funding from HUD that will directly benefit the families who were most affected by last year’s storms. This $616 million will enable communities to build new affordable housing and to replace homes lost in the wake of last year’s hurricane season. Through this program, we can continue to move forward with long-term affordable housing solutions for displaced families as well as provide grants to businesses who were impacted by the storm. We won’t stop working until all of Florida’s communities have fully recovered.”

To address unmet needs, the State of Florida has identified several housing and economic development recovery needs arising from Hurricane Irma and has designed the following programs to address those unmet needs and assist in the recovery:

  • Housing Repair Program ($273.3 million) will rehabilitate housing occupied by low- and moderate-income families that was damaged by Hurricane Irma. The Florida Department of Economic Opportunity (DEO) will centrally manage the following activities on behalf of eligible homeowner and rental property owner applicants:
  • Repairs to, reconstruction or replacement of housing units damaged by Hurricane Irma, which may include bringing the home into code compliance and mitigation against future storm impacts, including elevation.
  • The completion of work to homes that have been partially repaired.
  • Repairs to, or replacement of, manufactured homes impacted by Hurricane Irma.
  • Temporary housing assistance based on individual household needs and their participation in the Housing Repair Program.
  • Workforce Affordable Rental New Construction Program ($100 million) will facilitate the creation of affordable rental housing though a partnership with DEO and the Florida Housing Finance Corporation by leveraging CDBG-DR funds with low-income housing tax credits as well using CDBG-DR funds for zero-interest loans for smaller developments.
  • Land Acquisition for Affordable Workforce Housing ($20 million) provides funding for the purchase of land for development into affordable housing, especially in areas of the state where the scarcity of developable land makes it difficult to construct properties that can be rented at an affordable rate for the community’s workforce.
  • Voluntary Home Buyout Program ($75 million) encourages risk reduction through the voluntary purchase of residential properties in high flood-risk areas. Communities that participate in this program are encouraged to develop plans for the reuse of the acquired land to further reduce flood risk and/or serve as a recreational space for the public.
  • Recovery Workforce Training Program ($20 million) will bolster workforce training throughout the state with the goal of growing the skilled labor force needed to support the long-term recovery, primarily in the housing construction field.
  • Business Recovery Grant Program ($60 million) provides funding for eligible business owners who are seeking reimbursement for the cost of replacing equipment and inventory damaged by Hurricane Irma.
  • Business Assistance to new Floridians from Puerto Rico ($6 million) provides business plan guidance, accounting services, licensing information and other resources to support assistance in assimilating to the business climate in the State of Florida.

In April, HUD also allocated an additional $791 million of CDBG-DR funding to Florida for unmet need, infrastructure and mitigation purposes.  HUD will shortly issue requirements governing those funds, and Florida, along with other states, will be required to submit plans addressing their use.  Read more about the additional disaster recovery/mitigation funding to Florida.

HUD: $5 Billion Texas Disaster Recovery Plan Approved

Posted on by Safeguard

Investor Update
June 25, 2018

Source: HUD

Funding will target long-term housing, infrastructure and economic development recovery

WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today approved a disaster recovery plan to help Texans recover from Hurricane Harvey. In November, HUD Deputy Secretary Pamela Hughes Patenaude announced the allocation of more than $5 billion to the Lone Star State to support long-term recovery efforts.

The Texas plan is funded through HUD’s Community Development Block Grant—Disaster Recovery (CDBG-DR) Program which requires grantees to develop a thoughtful recovery program informed by local residents. Learn more about CDBG-DR and the State’s role in long-term disaster recovery (en español).

“The Trump Administration is committed to helping Texans impacted by Harvey to rebuild their homes and their lives,” said Secretary Carson. “As the State now turns to the long-term recovery of its communities, Texans can be sure that HUD will be there to help in any way we can to make the state whole again.”

To address remaining needs in hard-hit areas of the state, the Texas recovery plan includes:

  • Single-Family Homeowner Assistance Program ($1.1 billion): Provides assistance to help homeowners with rehabilitation and reconstruction after Hurricane Harvey.
  • Buyouts and Acquisitions ($275 million): To allow certain eligible homeowners to sell their damaged home to a local government.
  • Affordable Rental ($250 million): Provides funding for rehabilitation, reconstruction and new construction of affordable multi-family rent properties.
  • Homeowner Reimbursement ($100 million): Homeowners may be reimbursed up to $50,000 for certain out-of-pocket expenses incurred for home repairs, including reconstruction, rehabilitation or mitigation.
  • Partial Repair and Essential Power for Sheltering ($73 million): Provides immediate, temporary repairs to homes that sustained less than $17,000 in FEMA-verified loss. CDBG-DR will be used as matching funds to FEMA expenditures.
  • Local Infrastructure ($413 million): Supports infrastructure repairs and enhancements for local communities as part of a comprehensive long-term recovery program along with FEMA funding.
  • Economic Revitalization ($100 million): Offers interim assistance up to $250,000 to small businesses in exchange for job creation or retention.
  • Local, Regional and State Planning ($137 million): The State will fund planning studies on disaster mitigation in the impacted areas to promote sound long-term recovery.
  • Allocations to City of Houston and Harris County ($2.3 billion): The State of Texas will provide approximately $1.1 billion each to the City of Houston and Harris County, allowing these jurisdictions to address their unmet recovery needs. Plans for use of these funds will be submitted by the city and county to the State for approval.
  • State Administration ($251 million): Funding set aside for the State’s program costs, including contract administration, compliance monitoring, the provision of technical assistance to applicants and subrecipients, etc.

In April, HUD also allocated an additional $4.726 billion of CDBG-DR funding to Texas for unmet need and mitigation purposes. HUD will shortly issue requirements governing those funds, and Texas, along with other states, will be required to submit plans addressing the use of those funds. Read more about the additional disaster recovery/mitigation funding to Texas.

Freddie Mac: You’re Invited: Investor Reporting Change Initiative Webinars

Posted on by Safeguard

Investor Update
June 5, 2018

Source: Freddie Mac

To make your investor reporting transition as smooth as possible, we’re providing the opportunity to attend FREE webinars to help you understand and implement the upcoming remittance and reporting changes.

Webinar sessions will begin June 19, 2018. Click the registration links below to search for upcoming sessions.

Webinar 1: Investor Reporting Change Initiative Overview

This webinar provides an overview of the new requirements you’ll implement with your internal operations, processes, and technology partners. This is your opportunity to learn about the investor reporting changes, and how to effectively plan your strategy for the upcoming May 2019 conversion.

REGISTER
 
What We’ll Cover

  • Investor Reporting Change Initiative: What, Why, and When
  • Single-Family Seller/Servicer Guide (Guide) Bulletin announcements and updates
  • New reporting/drafting requirements and process timelines
  • Service Loans application changes
  • Implementation planning and transition strategy
  • Resources

Webinar 2: Investor Reporting Change Initiative Cutover Process

This webinar highlights the timeline, transition reporting, and remittance activities during and after the cutover period.

REGISTER
 
What We’ll Cover

  • Investor Reporting Change Initiative: What, Why, and When
  • Guide Bulletin announcements and updates
  • Cutover process and timelines
  • Principal and interest custodial validation during cutover
  • Service Loans application changes
  • Resources

For More Information

Freddie Mac: U.S. Treasury Supports the Single Security

Posted on by Safeguard

Investor Update
June 20, 2018

Source: Freddie Mac

Craig Phillips, U.S.Treasury Counselor to the Secretary, expressed “unambiguous support” for the Single Security. At the Single Security conference in New York on May 14, 2018, he said:

“We want to see this to come to fruition. This is exactly the right step to be doing. It’s a huge transformation that is necessary, regardless of the trading protocols of securities — to create a sounder, more sustainable housing system.”

The Treasury official emphasized that it’s now up to the private sector to take the next steps to get successfully to the June 3, 2019 Single Security go-live date.

”Housing reform is a very high priority of the administration,” Phillips added. “What can be  accomplished with the CSP (Common Securities Platform) and the Uniform Mortgage Backed Security (UMBS?) is a solid step that is reform-agnostic. We can move forward without boxing in any option.”

Bob Ryan, acting deputy director at the Federal Housing Finance Agency, reiterated the agency’s commitment to the June 3, 2019 go-live date. “We’re laser-focused. Freddie Mac, Fannie Mae and Common Securitization Solutions are on target to hit that date. This is why we are investing a huge amount of time–to provide the information necessary to get you in a position to implement in 12 months.”

You can view the entire session with Phillips and Ryan, which includes a Q&A on a variety of policy and implementation topics.

You can also view the other conference sessions through our Single Security web page. The videos are listed under the Single Security Conference Materials tab.

For More Information