FEMA Fire Management Assistance Declaration – Connecticut Hawthorne Fire

FEMA Alert
October 24, 2024  

FEMA has issued a Fire Management Assistance Declaration for the state of Connecticut to supplement state, tribal and local recovery efforts in areas affected by the Hawthorne Fire on October 21, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • Hartford
  • New Haven

 

Connecticut Hawthorne Fire (FM-5542-CT)

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 – Havasupai Tribe Flooding

FEMA Alert
October 25, 2024  

FEMA has issued a Major Disaster Declaration for the Havasupai Tribe to supplement tribal recovery efforts in areas affected by flooding from August 22-23, 2024.  The following areas have been approved for assistance:

Individual Assistance:

  • Havasupai Indian Reservation

Public Assistance:

  • Havasupai Indian Reservation

 

***Please note: only properties associated with the Havasupai Indian Reservation are approved for assistance.***

 

Havasupai Tribe Flooding (DR-4840)

President Joseph R. Biden, Jr. Approves Major Disaster Declaration for the Havasupai Tribe

Map of Affected Areas

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 – Virgin Islands Tropical Storm Ernesto

FEMA Alert
October 25, 2024  

FEMA has issued a Major Disaster Declaration for areas of the U.S. Virgin Islands to supplement state, tribal, and local recovery efforts in areas affected by Tropical Storm Ernesto from August 13-16, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • St. Croix
  • St. John
  • St. Thomas

 

Virgin Islands Tropical Storm Ernesto (DR-4841-VI)

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

Share of Mortgage Loans in Forbearance Increases to .34% in September

Industry Update
October 21, 2024

Source: Mortgage Banks Association

The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance increased to 0.34% as of September 30, 2024. According to MBA’s estimate, 170,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 8.3 million borrowers since March 2020.

The share of Fannie Mae and Freddie Mac loans in forbearance remained the same as the previous month at 0.13% in September 2024. Ginnie Mae loans in forbearance increased by 10 basis points to 0.76%, and the forbearance share for portfolio loans and private-label securities (PLS) increased 2 basis points to 0.37%.

“The percentage of loans in forbearance increased for the fourth consecutive month,” said Marina Walsh, CMB, MBA’s Vice President of Industry Analysis. “Since May 2024, Ginnie Mae loans in forbearance increased by almost 40 basis points, compared to six basis points for portfolio and PLS loans and three basis points for Fannie and Freddie loans.”

Added Walsh, “We are seeing some weakening in loan performance, particularly among government products. Overall government loan performance reached a new low for the year in September. In addition, the share of government post-forbearance workouts that are current dropped considerably over the past four months. These trends indicate that some homeowners are exhibiting signs of distress – whether because of economic hardships, natural disasters, or other reasons.”

 

For full report, please click the source link above.

 

First Look at September 2024 Mortgage Data

Industry Update
October 23, 2024

Source: ICE Mortgage Technology

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, reports the following “first look” at September 2024 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

  • The national delinquency rate rose 14 basis points to 3.48% in September, up 4.3% from August and 5.7% year over year.
  • September marked the fourth consecutive year-over-year rise in mortgage delinquencies, the longest such stretch since early 2018 outside of the initial impact of the COVID pandemic.
  • A 5.9% bump brought serious delinquencies (90+ days past due but not yet in active foreclosure) to a 16-month high and delivered a second consecutive month of year-over-year increases.
  • 30-day delinquencies hit a three-month high and 60-days were at the highest since January 2021; foreclosure activity remained muted, with both starts and sales/completions down in September.
  • The number of loans in active foreclosure was up marginally (+0.4%) month over month but down 12.5% from this time last year and still 34% below pre-pandemic levels.
  • Prepayment activity rose to a level not seen since August 2022; a +2.5% increase from the month prior and up +43.2% from last September.

 

For full report, please click the source link above.

 

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

FEMA Alert
October 21, 2024  

FEMA has issued a Major Disaster Declaration for the state of Nebraska to supplement state, tribal, and local recovery efforts in areas affected by severe storms, straight-line winds, tornadoes and flooding on July 31, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • Cass
  • Douglas
  • Lancaster
  • Sarpy
  • Saunders

 

Nebraska Severe Storms, Straight-line Winds, Tornadoes, and Flooding (DR-4838-NE)

President Joseph R. Biden, Jr. Approves Major Disaster Declaration for Nebraska

Map of Affected Areas

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 – New York Severe Storm and Flooding

FEMA Alert
October 21, 2024  

FEMA has issued a Major Disaster Declaration for the state of New York to supplement state, tribal, and local recovery efforts in areas affected by a severe storm and flooding from August 18-19, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • Lewis
  • Oswego
  • Suffolk

 

New York Severe Storm and Flooding (DR-4839-NY)

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 – North Carolina Potential Tropical Cyclone Eight

FEMA Alert
October 19, 2024  

***LAST UPDATE: 12/5/24***

FEMA has issued a Major Disaster Declaration for the state of North Carolina to supplement state, tribal, and local recovery efforts in areas affected by Potential Tropical Cyclone Eight from September 16-20, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • Brunswick
  • Carteret
  • Dare
  • New Hanover
  • Onslow
  • Stokes

 

North Carolina Potential Tropical Cyclone Eight (DR-4837-NC)

President Joseph R. Biden, Jr. Approves Major Disaster Declaration for North Carolina

Map of Affected Area

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

St. Louis Hosts Conference on Vacant Properties, Showcases Local Efforts to Stabilize Buildings

One Community Update
October 9, 2024

Source: www.firstalert4.com

A national conference on vacant properties is converging in St. Louis this week, highlighting successful programs locally and in other U.S. cities.

The semi-annual conference, called “Reclaiming Vacant Properties,” is run by the Center for Community Progress, which works with organizations nationwide to address abandoned and deteriorated properties.

Thamarrah Jones, the organization’s director of conferences, said CCP chose St. Louis partly to highlight recent collaborative efforts between City departments and agencies, as well as local organizations that have worked to redevelop, stabilize, or demolish problem properties.

“With all of the challenges that have happened as it relates to vacancy in the city and county, we’ve wanted to partner with St. Louis for a long time,” Jones said.

One organization highlighting its work at the conference is the St. Louis Vacancy Collaborative, which has increasingly developed tools for tracking and mapping vacant properties in the city.

Torrey Park, the director of the Vacancy Collaborative, said such tools have helped to tie problem properties to negligent owners, some of whom own dozens of vacant properties in the area with a mounting pile of code violations and fines.

She said the success of the collaborative could be a useful example to other cities dealing with a high number of vacancies and lack of investment.

“They can learn a lot about how we’re being strategic to address the properties that need it most, Park said.

The conference itinerary also includes visits to successful redevelopment projects in the St. Louis area, such as the Delmar Divine.

 

For full report, please click the source link above.

Atlanta City Council Approves $1.4M to Redevelop Foreclosed Properties with Affordable Housing

One Community Update
October 11, 2024

Source: www.roughdraftatlanta.com

The Atlanta City Council voted this week to pay the Metro Atlanta Land Bank (MALB) $1.4 million to prepare foreclosed properties for redevelopment with an emphasis on preserving and constructing affordable housing.

The council approved the ordinance at its Oct. 7 meeting. The initiative is part of a broader effort to support Mayor Andre Dickens’ goal of creating or preserving 20,000 units of affordable housing by 2030.

The land bank was created for the purpose of “facilitating the return of dilapidated, abandoned, and tax delinquent properties to productive use,” according to the legislation.

Land banks also have the power to hold and dispose of real property and collaborate with municipalities and other public and private entities for the development of real property.

“The [Metro Atlanta] land bank is an organization that helps take blighted properties that are eyesores in our communities, that may pose safety issues for our neighbors … and clears the title and cleans them up and then gets those pieces of properties ready to rejoin the community,” said Councilmember Matt Westmoreland.

The city will pay MALB the $1.4 million from the new $8.5 million Gulch Housing Trust Fund approved by the council at the Oct. 7 meeting.

The Gulch Housing Trust Fund is a result of the agreement the city made with CIM Group years ago to transform the undeveloped Gulch into a 50-acre mixed-use development and entertainment district.

In exchange for CIM Group promising to fund and meet affordable housing goals as part of the estimated $5 billion project, the city pledged about $1.9 billion in public tax incentives.

 

For full report, please click the source link above.