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Disaster News

This topic consolidates the latest industry publications pertaining to natural disasters, including FEMA declarations, agency issuance's, and impact analyses from top industry providers.

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September 24, 2020

Fannie Mae Supplement 20-15: Updated Oregon COVID-19 Borrower Relief Act Notice of Accommodations

Fannie Mae is updating the Notice of Accommodations form (Exhibit A) required on loans secured by a property located in Oregon with an origination date on or after August 20, 2020, as well as expanding the requirement to provide Exhibit A to the borrower at closing.

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September 24, 2020

FDIC FIL-92-2020 Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Alabama Affected by Hurricane Sally

FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Alabama affected by Hurricane Sally.

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September 24, 2020

Housing Investors Face Risk of Foreclosure

DSnews – Christina Hughes Babb

A recent report from Hamilton’s revealed that “mom-and-pop” landlords are in a worse financial position than their higher-earning peers.

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September 21, 2020

New data finds high level of regret among homebuyers who purchased during COVID-19

Mortgage Professional America -- Clayton Jarvis

According to a report from a comparison site, LendEDU says homeowners who bought as part of the unexpected torrid buying frenzy seen during the COVID-19 crisis are currently experiencing a case of buyers' remorse.

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September 18, 2020

Oregon Wildfire Victims Receive HUD Assistance

MReport – Christina Hughes Babb

The state of Oregon receives assistance for homeowners and low-income renters displaced from their homes in areas affected by wildfires from the U.S. Department of Housing and Urban Development (HUD).

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September 17, 2020

HUD Offers Assistance For Oregon Wildfire Victims

DS News--Christina Hughes Babb

HUD has announced that support will be provided to homeowners and low-income renters displaced from their homes due to the Oregon wildfires.

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QC Now: CFPB’s Proposed Mortgage Servicing Rule Amendments

QC Now: CFPB’s Proposed Mortgage Servicing Rule Amendments

Presented by ACES Quality Management's EVP of Compliance, Amanda Phillips, and Ballard Spahr's Reid Herlihy, Richard Andreano, Jr., and Matthew Morr.

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September 17, 2020

RIHA Study: New Data Highlights Early COVID-19 Impact on Jobs and Individuals’ Ability to Make Housing and Student Debt Payments

Mortgage Bankers Association – Adam DeSanctis

According to the latest research by the Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA), the first three months of the COVID-19 crisis, approximately 11 million households fell behind on their rent or mortgage payments, and 30 million individuals were missing at least one student loan payment.

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September 17, 2020

Fed could keep rates near zero through 2023

Mortgage Professional America – Ryan Smith

The Federal Reserve announced that it would keep interest rates close to zero for the near future.

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September 17, 2020

FHFA has failed homeowners during pandemic, says top Dem

Mortgage Professional America – Ryan Smith

Chairwomen Maxine Waters (D-Calf.) criticizes the Federal Housing Finance Agency for what she said was its inadequate response to the COVOD-19 pandemic.

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September 16, 2020

COVID Means Extra Challenges for Minority-Owned Businesses

MReport

Over 50% of small businesses with employees face severe risks to survival due to the impacts of COVID-19.

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Learn Why Clients Love ACES

Learn Why Clients Love ACES

"We are already ahead of the game and without having to add additional FTEs."

- Julie Baril, QC Manager at Norcom Mortgage

Hear Why

September 16, 2020

VA Circular 26-20-33 Deferment as a COVID-19 Loss Mitigation Option for CARES Act Forbearance Cases

VA issued clarification for Servicers on when a deferment may be offered as a COVID-19 loss mitigation option.

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September 16, 2020

USDA Single Family Housing Guaranteed Loan Program Updated FAQs in Relation to COVID-19 Pandemic

USDA has added new Origination FAQs in relation to lending in during the COVID-19 Pandemic.

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September 15, 2020

VA Circular 26-20-25, Change 1, Impact of CARES Act Forbearance on VA Purchase and Refinance Transactions

VA issues clarification that periods of forbearance under the CARES Act cannot count toward loan seasoning requirements for both Interest Rate Reduction Refinancing Loans (IRRRLs) and cash-out refinancing loans made to refinance a VA-guaranteed loan.

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September 10, 2020

FHA Mortgagee Letter 2020-30 FHA Underwriting Guidelines for Borrowers with previous Mortgage Payment Forbearance

FHA announces underwriting guidelines for mortgages where the borrower was granted a previous mortgage forbearance on the subject property or other residence, as a result of the COVID-19 pandemic.

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