This topic consolidates the latest industry publications pertaining to natural disasters, including FEMA declarations, agency issuance's, and impact analyses from top industry providers.
FDIC announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Florida affected by Hurricane Sally.
CoreLogic® released data analysis that identifies nearly three hundred thousand single-family and multi-family homes within Lousiana and around the Gulf Coast are at risk of storm surge damage from Hurricane Delta, which scheduled to make landfall as a potential Category 2 or greater storm this weekend.
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FHA published a temporary policy waiver that suspends the standard inspection requirement for “interior” photographs of the property when performing damage inspections on properties pending mortgage closing or endorsement in designated Presidentially-Declared Major Disaster Areas (PDMDAs).
DS News – Christina Hughes Babb
Last week the House passed a $2.2 trillion COVID-19 relief bill, but it is unlikely to move through the Republican-led senate.
Mortgage Professional America – Ryan Smith
According to the latest prediction from Black Knight, mortgage delinquencies may continue above pre-pandemic levels until 2022.
FHA issued a temporary partial waiver for eligible Home Equity Conversion Mortgage (HECM) Non-Borrowing Spouses (NBS) to enter into a deferral period and avoid foreclosure if they are unable to meet the 90-day requirement to obtain the needed documents to establish legal ownership or legal right to remain in the property securing the HECM as a result of the COVID-19 National Emergency.
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Mortgage Professional America – Ryan Smith
According to recent information from CoreLogic, almost 2 million homes in the US are at risk from wildfires.
National Mortgage News--Amanda Fries
New York Gov. Andrew M. Cuomo is extending the foreclosure and eviction moratorium (Tenant Safe Harbor Act) to January 1, 2021.
Ginnie Mae is reminding Issuers that existing MBS Program requirements may impact the pooling eligibility of VA loans where a deferment is exercised as a loss mitigation option or as part of an informal workout agreement.
This Guide Bulletin announces additional exclusions from the previously announced Market Condition Credit Fee as well as effective date extensions for previously announced temporary flexibilities.
"By partnering with ACES, we have witnessed an overall improvement in the quality of our reviews."
-Hilda Melendez, Quality Control Systems Director at Lennar Mortgage
Fannie Mae has updated the COVID-19 Selling FAQs to answer questions about federal student loans and remote online notarization record retention policy.
Fannie Mae has updated the extension of the effective date, extending the application dates eligible for these temporary flexibilities to Oct. 31, 2020, unless otherwise noted.
Fannie Mae has updated Single-Family Sellers Impact of COVID-19 on Originations to extend application dates to Oct. 31, 2020 for verbal verifications of employment and power of attorney flexibilities.
Fannie Mae has updated LL-2020-06 to extended eligible note dates for selling loans in forbearance to October 31, 2020 and extend delivery to December 31, 2020.
