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HUD announced the implementation of federal disaster assistance for the State of Texas to provide support to homeowners and homebuyers in areas affected by the Severe Winter Storm, including an automatic 90-day moratorium on foreclosures, making Section 203(h) and Section 203(k) programs available, and ensuring HUD-approved housing counseling agencies are ready to assist.
View SourceThe FDIC issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the second quarter 2021 and third quarter 2021 based on the best information now available and is subject to change.
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Search our Compliance Calendar for current
regulatory changes & updates from Fannie,
Freddie, FHA, VA, and USDA.
The Federal Financial Institutions Examination Council (FFIEC) is updating sections and related examination procedures in the FFIEC Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual.
View SourceMortgage Bankers Association
According to the National Association of Realtors, pending home sales dropped in January.
View SourceMortgage Bankers Association
According to Attom Data Solutions’ Vacant Property and Zombie Foreclosure Report, 175,000 vacant properties entered the foreclosure process in the 1st quarter of 2021.
View SourceFHFA announced that Fannie Mae and Freddie Mac are extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions until June 30, 2021.
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In light of the extreme weather in Texas negatively impacting homes such as bursting pipes and water damage and lenders should be aware of the process for properties in disaster-impacted areas and take prudent and reasonable actions to determine whether the property condition may have materially changed, which could require a new inspection or declining an appraisal waiver offer.
View SourceThis lender letter is to extend the suspension of foreclosure-related activities and is updating requirements related to forbearance plans for borrowers impacted by COVID-19.
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