This topic consolidates the latest industry publications pertaining to natural disasters, including FEMA declarations, agency issuance's, and impact analyses from top industry providers.
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.
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.
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.
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.
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.
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.
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).
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.
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.
Mortgage Professional America – Ryan Smith
The Federal Reserve announced that it would keep interest rates close to zero for the near future.
