Safeguard Properties

OCC Reports Mortgage Performance for Second Quarter of 2023

Posted on by Safeguard

Industry Update
September 27, 2023

Source: Office of the Comptroller of the Currency

The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the second quarter of 2023.

The OCC Mortgage Metrics Report, Second Quarter 2023 showed that 97.3 percent of mortgages included in the report were current and performing at the end of the quarter, compared with 97.6 percent in the first quarter 2023. Performance improved compared to second quarter 2022 when 97.0 percent of mortgages were current and performing.

The percentage of seriously delinquent mortgages – mortgages that are 60 or more days past due and all mortgages held by bankrupt borrowers whose payments are 30 or more days past due – was 1.1 percent in the second quarter of 2023, the same as the previous quarter, and a decrease compared to 1.5 percent a year ago.

Servicers initiated 7,480 new foreclosures in the second quarter of 2023, a decrease from the prior quarter and from a year earlier. The new foreclosure volume in the second quarter of 2023 is lower than pre-COVID-19 pandemic foreclosure volumes.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FEMA Emergency Declaration – Louisiana Seawater Intrusion

Posted on by Safeguard

FEMA Alert
September 27, 2023 

FEMA has issued a Emergency Declaration for areas of the state of Louisiana to supplement recovery efforts in the areas affected by seawater intrusion from September 20, 2023 and continuing.  The following counties have been approved for Public Assistance:

Public Assistance

  • Jefferson
  • Orleans
  • Plaquemines
  • St. Bernard
  • St. Mary

 

Louisiana Seawater Intrusion (EM-3600-LA)

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 – Tennessee Severe Storms, Straight-line Winds, and Tornado

Posted on by Safeguard

FEMA Alert
September 27, 2023 

FEMA has issued a Major Disaster Declaration for areas of the state of Tennessee to supplement state, tribal and local recovery efforts in the areas affected by severe storms, straight-line winds and tornado on August 7, 2023.  The following counties have been approved for Public Assistance.

Public Assistance:

  • Bledsoe
  • Coffee
  • Cumberland
  • Jefferson
  • Knox
  • Loudon
  • Meigs
  • Rhea
  • Roane
  • Van Buren

 

Tennessee Severe Storms, Straight-line Winds, and Tornado (DR-4742-TN)

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

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 – La Jolla Band of Luiseño Indians Tropical Storm Hilary

Posted on by Safeguard

FEMA Alert
September 27, 2023 

FEMA has issued a Major Disaster Declaration for the La Jolla Band of Luiseño Indians to supplement the tribal recovery efforts in the areas affected by Tropical Storm Hilary that occurred from August 19-21, 2023.

Public Assistance:

  • La Jolla Indian Reservation

***Please note: only properties located within the La Jolla Indian Reservation are eligible for assistance.***

 

La Jolla Band of Luiseno Indians Tropical Storm Hilary (DR-4743)

President Joseph R. Biden, Jr. Approves Major Disaster Declaration for the La Jolla Band of Luiseño Indians

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 – Missouri Severe Storms, Straight-line Winds, Tornadoes and Flooding

Posted on by Safeguard

FEMA Alert
September 21, 2023 

FEMA has issued a Major Disaster Declaration for areas of the state of Missouri to supplement state, tribal and local recovery efforts in the areas affected by severe storms, straight-line winds, tornadoes and flooding from July 29 – August 14, 2023.  The following areas has been approved for assistance:

Public Assistance:

  • Adair
  • Barry
  • Barton
  • Bates
  • Benton
  • Bollinger
  • Camden
  • Christian
  • Clark
  • Crawford
  • Dade
  • Gentry
  • Greene
  • Grundy
  • Henry
  • Iron
  • Knox
  • Madison
  • Maries
  • Mississippi
  • Morgan
  • New Madrid
  • Ozark
  • Perry
  • Saint Clair
  • Sainte Genevieve
  • Scotland
  • Scott
  • Shelby
  • Taney
  • Vernon
  • Wayne
  • Worth

 

Missouri Severe Storms, Straight-line Winds, Tornadoes and Flooding (DR-4741-MO)

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

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

U.S. Foreclosure Activity Sees Uplift in August 2023

Posted on by Safeguard

Industry Update
September 13, 2023

Source: ATTOM

ATTOM, a leading curator of land, property, and real estate data, today released its August 2023 U.S. Foreclosure Market Report, which shows there were a total of 33,952 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 7 percent from a month ago but down 2 percent from a year ago.

Nationwide one in every 4,113 housing units had a foreclosure filing in August 2023. States with the highest foreclosure rates were Nevada (one in every 2,224 housing units with a foreclosure filing); Illinois (one in every 2,433 housing units); South Carolina (one in every 2,506 housing units); New Jersey (one in every 2,585 housing units); and Delaware (one in every 2,618 housing units).

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Top 10 US Housing Markets Least At-Risk of Declines in Q2 2023

Posted on by Safeguard

Industry Update
September 15, 2023

Source: ATTOM

According to ATTOM’s newly released Q2 2023 Special Housing Risk Report, New Jersey and Illinois have the highest concentrations of the most-at-risk markets in the country, with the biggest clusters in the New York City, Chicago and Philadelphia areas. The report noted that the South, along with other parts of the Northeast, are generally less exposed to market woes.

The report also noted that the second-quarter patterns – derived from gaps in home affordability, underwater mortgages, foreclosures and unemployment – revealed that New Jersey and Illinois had 23 of the 50 counties most vulnerable to potential drop-offs. According to the report, those concentrations dwarfed other parts of the country amid a time of significant uncertainty when the U.S. housing market was rebounding from a period of flat or falling values.

ATTOM’s Q2 2023 housing impact report mentioned that the 50 counties at the top of the most vulnerable list included eight in and around New York City, six in the Chicago metropolitan area and three in or near Philadelphia. The report also mentioned that another six were scattered through northern, central and southern California, while a majority of the rest were in Indiana and along the East Coast.

Also, according to the report, at the other end of the risk spectrum, the South and two New England states had the highest concentration of markets considered least likely to decline.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Share of Mortgage Loans in Forbearance Decreased to .33% in August

Posted on by Safeguard

Industry Update
September 18, 2023

Source: Mortgage Bankers Association

The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 6 basis points from 0.39% of servicers’ portfolio volume in the prior month to 0.33% as of August 31, 2023. According to MBA’s estimate, 165,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 7.92 million borrowers since March 2020.

In August, the share of Fannie Mae and Freddie Mac loans in forbearance decreased 1 basis point to 0.19%. Ginnie Mae loans in forbearance decreased 15 basis points to 0.65%, and the forbearance share for portfolio loans and private-label securities (PLS) decreased 6 basis points to 0.39%.

“The forbearance rate is just 8 basis points shy of where it was at the beginning of March 2020, which indicates that most homeowners have recovered from the pandemic,” said Marina Walsh, CMB, MBA’s Vice President of Industry Analysis. “While there was a monthly decline in the performance of post-forbearance workouts in August, overall mortgage servicing portfolios remain resilient. Compared to other credit types with weaker performance, the percentage of home mortgages that are performing is holding steady at a non-seasonally adjusted 96 percent.”

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

HUD Earns Smart Energy Decisions’ 2023 Diversity, Equity and Inclusion Award

Posted on by Safeguard

Industry Update
September 20, 2023

Source: U.S. Department of Housing and Urban Development

The U.S. Department of Housing and Urban Development’s (HUD) Office of Public Housing, Energy Branch received the Smart Energy Decisions’ (SED) 2023 Diversity, Equity, and Inclusion (DEI) Award. At the Net Zero Forum Fall held in Phoenix, AZ, Dr. Charles Marshall, HUD’s Energy Director, received an award on behalf of his team. The team was recognized for their work in implementing Diversity, Equity, and Inclusion (DEI) practices in energy and sustainability efforts at their organization.

“HUD is honored to receive the Smart Energy Decisions’ 2023 DEI Impact Award for our efforts in Diversity, Equity, and Inclusion in clean energy,” said Secretary Marcia L. Fudge. “HUD has worked hard to build an agency that affirmatively reflects the real world we live in. Our strategic efforts to expand diversity, equity, and inclusion are the foundation of our agency and will continue to evolve and grow in the future.”

Nominations were accepted for DEI projects and industry influencers from commercial, industrial, institutional, and government organizations across seven categories. Winners were selected by a panel of judges representing energy customer peers and industry experts.

Smart Energy Decisions is the first web-based information resource dedicated exclusively to addressing the information needs of large power customers from commercial, industrial, institutional (higher education and healthcare), and government organizations. SED deliver news, analysis, research and opinion through our newsletters and events to help our community make better decisions. Their goal is to serve as a catalyst for change in support of the dramatic energy transformation taking place in the electric power market that impacts energy customers, utilities, and suppliers.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FEMA Emergency Management Declaration – Massachusetts Hurricane Lee

Posted on by Safeguard

FEMA Alert
September 15, 2023

FEMA has issued an Emergency Management Declaration for the state of Massachusetts to supplement state and local response efforts to the emergency conditions in the areas affected by Hurricane Lee from September 15-17, 2023.  The following areas has been approved for assistance:

Public Assistance:

  • Barnstable
  • Berkshire
  • Bristol
  • Dukes
  • Essex
  • Franklin
  • Hampden
  • Hampshire
  • Middlesex
  • Nantucket
  • Norfolk
  • Plymouth
  • Suffolk
  • Worcester

 

Massachusetts Hurricane Lee (EM-3599-MA)

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