Safeguard Properties

MHA HAMP Update: Christmas Day Holiday Support and System Availability

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Investor Update
December 18, 2017

Due to the observance of Christmas Day, the HAMP Reporting System response files will not be available between 6:00 p.m. ET on Friday, December 22, 2017 and 8:00 a.m. ET on Tuesday, December 26, 2017; 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 (HSC) will close at 3:00 p.m. ET on Friday, December 22, 2017 and will resume operations at 9:00 a.m. ET on Wednesday, December 27, 2017. Phone messages and emails will be held in queue until the center reopens on Wednesday.

The NPV Transaction Portal will be available for normal processing during this period.

Questions?
For more information, email the HAMP Solution Center or call 1-866-939-4469.

Source: MHA

HUD: HUD and State of Texas Launch Public Awareness Campaign to Help Struggling Homeowners Impacted by Hurricane Harvey

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Investor Update
December 4, 2017

FHA programs intended to suspend foreclosures and give Texans time to recover

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the Texas General Land Office (GLO) today launched a public awareness campaign to inform owners of homes damaged by Hurricane Harvey that help is available to avoid foreclosure and to finance repairs.

“After a major disaster like Hurricane Harvey, struggling homeowners need to know that we will do everything we can to facilitate their recovery,” said HUD Secretary Ben Carson. “Working closely with our Texas partners, our goal is to give owners of damaged FHA-insured properties the time needed to focus on repairing their homes.”

“Hurricane Harvey affected approximately 50,000 square miles of Texas and damaged or destroyed more than a million homes,” said Texas Land Commissioner George P. Bush. “While we rebuild, many Texas homeowners are facing a second struggle of returning to work and making mortgage payments. To help these Texans, the GLO is proud to team with our disaster recovery partners at HUD to help those who need help avoiding foreclosure or assistance in financing repairs to damaged homes. Texans who are having trouble making payments should contact their service providers to learn about available resources or call the FHA Resource Center at (800) CALL-FHA. Reach out now to get help.”

Over one-quarter of home loans in Texas are insured by the Federal Housing Administration (FHA), an agency within HUD, which offers a range of payment and other relief options for borrowers living in Presidentially Declared Major Disaster Areas (PDMDAs). Borrowers who are having trouble making mortgage payments should contact their servicers to discuss available resources. In addition, HUD-approved housing counselors can assist in connecting impacted homeowners with the right options for relief. HUD also offers help for borrowers and loan servicers through its FHA Resource Center, (800) CALL-FHA.

Among the relief provided to homeowners affected by Hurricane Harvey, FHA has recently announced an extension to its 90-day foreclosure moratorium until February 21, 2018 to the FEMA designated Individual Assistance Areas in the PDMDAs. FHA-insured homeowners may qualify for this relief if they live or work in a PDMDA.

FHA also currently offers the following assistance:

  • Forbearance and loan modification options – HUD offers different forbearance and loan modification options for FHA borrowers affected by disasters. Borrowers having trouble making regular payments should contact their loan servicer as soon as possible for more information.
  • Fees and credit reporting – HUD requires lenders to waive late fees on affected FHA borrowers and cease any negative credit reporting during the forbearance period.
  • Mortgage insurance for disaster victims – HUD’s Section 203(h) program provides FHA-insured mortgage financing to disaster victims who have lost their homes and are facing the daunting task of rebuilding or buying another home. Borrowers from participating FHA-approved lenders are eligible for 100 percent financing, including closing costs.
  • Purchase and home rehabilitation program – HUD’s Section 203(k) loan program enables those who have lost their homes to finance the purchase or refinance of a house along with its repair through a single mortgage. It also allows homeowners who have damaged houses to finance the rehabilitation of their existing single-family home.
  • Collaborations with other federal agencies – HUD regularly shares information with FEMA and the State on housing providers that may have available units in the impacted counties – this includes Public Housing Agencies and Multi-Family owners. The Department will also connect FEMA and the State to subject matter experts to provide information on HUD programs and providers.

Read about these and other HUD programs designed to assist disaster victims.

Source: HUD

HUD: Guide to Help Struggling Homeowners Avoid Foreclosure Released

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Investor Update
December 20, 2017

Guide helps borrowers and disaster victims to understand mortgage options and avoid scams
 
WASHINGTON – The U.S. Department of Housing and Urban Development today released the Homeowners Guide to Success as part of a public-private partnership between federal agencies and industry partners. The guide provides homeowners with information on the critical first steps to take if they are at risk of missing a mortgage payment or facing foreclosure.

HUD Secretary Ben Carson said, “This guide arms consumers with easy to understand, reliable information about the assistance available to help them keep their homes. Valuable information like this can make a tremendous difference in the lives of homeowners who may be faced with foreclosure.”

This guide ensures homeowners will have resources at their fingertips and will be ready and responsible for the next steps. The guide also covers the value of HUD-approved housing counseling agencies. They are on the front lines providing resources to help homeowners avoid foreclosure. These HUD-approved housing counseling agencies offer free assistance to consumers and help borrowers find housing counselors and avoid scams.

As families recover from the recent hurricanes and are more likely to be targeted by scams, a HUD-approved housing counselor can assist them through the process of purchasing or keeping a home. Independent research shows that borrowers working with a HUD-approved housing counseling agency are more likely to avoid foreclosure than borrowers who do not seek housing counseling.

“Steering consumers away from fraudulent schemes is especially important when they are already facing the difficult situation of not being able to make their mortgage payment,” said Sarah Gerecke, Deputy Assistant Secretary for the Office of Housing Counseling at HUD.

As part of the partnership between HUD, Department of Veterans Affairs, Department of Agriculture, the Treasury Department, the Consumer Financial Protection Bureau, Federal Housing Finance Agency, Mortgage Bankers Association, and housing counseling agencies, the guide will be available on federal agency and industry partner websites.

Source: HUD

HUD: FHA INFO #17-57: Training and Events

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Investor Update
December 21, 2017

Webinar Title:  NEW   Webinar V.1: SFDMS – Reporting Basics

Date/Time:                   Wednesday, January 10, 2018 2:00 PM to 4:00 PM (Eastern)

Event Location:           On-line Webinar – No Fee

Jurisdictional Host:    National Servicing Center

Registration Link:       https://attendee.gotowebinar.com/register/3981620061562255107

Description:                 Representatives from the Federal Housing Administration (FHA) will provide guidance to FHA-approved servicers covering the basics of reporting information on defaulted FHA loans to HUD through the Single Family Default Monitoring System (SFDMS). Topics include: deadlines; Electronic Data Interchange (EDI) files vs. manual reporting; and reporting resources.

Special Instructions:  This webinar will focus exclusively on SFDMS reporting requirements and is open to all FHA-approved Servicers. A valid company email address and the FHA 5-digit lender ID are required at the time of registration. For more information, contact: stacey.a.brown@hud.gov 

Source: HUD (FHA INFO #17-57 full version)

Freddie Mac: Quick Takes: Your Snapshot into Investor Reporting Success

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Investor Update
December 7, 2017

By now, you should be familiar with the Investor Reporting Change Initiative, which will move us closer to an industry standard reporting cycle beginning on the first of the month. It is a lot of work, and we know the information that comes along with these changes may feel complicated to navigate.

Today, we launched Quick Takes, a new resource with easy-to-digest tips about the initiative, plus answers to common questions you may have between now and when the initiative is implemented in May 2019.

You’re One Quick Take Away from:

  • Insights into staying on task
  • Reporting examples and scenarios
  • Status checks
  • Quick resources
  • Q&A’s

Subscribe

Subscribe to Quick Takes and discover:

  • Supplemental information to help answer your questions.
  • Tips to keep you informed on changes, and help stay you on track.
  • At-a-glance information about where you should be in the initiative.

For More Information

Source: Freddie Mac

Freddie Mac: Holiday Eviction Suspension

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Investor Update
December 11, 2017

Freddie Mac is suspending all scheduled eviction lockouts from December 18, 2017 through January 2, 2018. The eviction lockout suspension applies to all foreclosed occupied Single-Family homes and 2-4 unit properties that are now Freddie Mac Real Estate Owned (REO).

As a reminder, Freddie Mac has suspended all foreclosure sales in Eligible Disaster Areas impacted by Hurricane Harvey, Irma or Maria through the end of 2017.

For More Information

  • Review our press release.
  • Direct questions to your Freddie Mac representative or contact the Customer Support Contact Center (800-FREDDIE).

Source: Freddie Mac

Freddie Mac: Consolidated Scorecard Now Available

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Investor Update
December 12, 2017

Your enhanced consolidated Servicer Success Scorecard (Scorecard) is now available with synthetic performance, trend and rank data. This Scorecard provides you with a consolidated view of your performance across your servicing portfolio using the same metrics as your master servicing Scorecard.

Other updates include:

  • Republishing the October Scorecard to exclude disaster forbearance loans from certain metrics that should have excluded them.
  • Improving the Servicer Performance Profile homepage to provide you with faster and more responsive navigation.

For More Information

Source: Freddie Mac

FHLMC Guide Bulletin 2017-27: Servicing Updates

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Investor Update
December 13, 2017

Single-Family Seller/Servicer Guide (Guide) Bulletin 2017-27 [pdf] includes updates and reminders that impact your processes. With this Guide Bulletin, we are:

  • Notifying you that Workout Prospector® will be updated by February 26, 2018 to accommodate data submissions and reporting to Freddie Mac related to the new imminent default evaluation requirements.
  • Providing guidance on how to process and report imminent default data using Workout Prospector.
  • Updating the Guide to reflect the Manager Series reports and their new locations in the redesigned Servicer Performance Profile.
  • Providing information on changes announced in Guide Bulletin 2017-26 [pdf] that impact Servicers.

For more details on these changes and other important updates, read Guide Bulletin 2017-27 [pdf] or contact your Freddie Mac representative.

Source: Freddie Mac

FHLMC Guide 2017-29: Extension of Foreclosure Sale Suspension in Puerto Rico and the U.S. Virgin Islands

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Investor Update
December 20, 2017

With Single-Family Seller/Servicer Guide (Guide) Bulletin 2017-29 we’re extending the suspension of all foreclosure sales in Puerto Rico and the U.S. Virgin Islands through March 31, 2018. The extension will help ensure your borrowers continue to receive the assistance they need while recovering from the devastation caused by Hurricane Irma or Hurricane Maria.

Previously announced foreclosure sale suspensions in other states are not impacted by this announcement and will expire on December 31, 2017.

For more information on this extension read Guide Bulletin 2017-29 [pdf] or contact your Freddie Mac representative.

Source: Freddie Mac

FHFA: Third Quarter Foreclosure Prevention Report Shows Foreclosure Preventions Top 3.9 Million

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Investor Update
December 21, 2017

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its third quarter Foreclosure Prevention Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 41,465 foreclosure prevention actions in the third quarter of 2017, bringing the total number of troubled homeowners helped to 3,972,689 since the start of the conservatorships in September 2008.  The number of early stage (30-59 days) delinquent loans rose 25 percent in the third quarter driven primarily by the impact of Hurricanes Harvey, Irma and Maria in Texas, Florida and Puerto Rico.  A variety of mortgage relief options are available for those affected by natural disasters, including these hurricanes.

FHFA’s report includes data on the Enterprises’ home retention actions, delinquency data and real estate owned (REO) inventory.  FHFA publishes the report data in an online, interactive Borrower Assistance Map on FHFA.gov. 

Other foreclosure prevention data noted in the quarterly report include:

  • Of the foreclosure prevention actions, nearly 3.3 million have helped troubled homeowners stay in their homes, including more than 2.1 million permanent loan modifications.
  • The Enterprises’ serious delinquency rate remained flat at 0.95 percent at the end of the third quarter.
  • The Enterprises’ REO inventory declined 8 percent in the third quarter.

Link to Report
 
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $6.0 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube and LinkedIn. 

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

Source: FHFA