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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 16, 2021

FDIC FIL-67-2021 Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Pennsylvania Affected by Hurricane Ida

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

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September 13, 2021

FDIC FIL-65-2021 Guidance to Help Financial Institutions and Facilitate Recovery in Areas of North Carolina Affected by Remnants of Tropical Storm Fred

The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of North Carolina affected by remnants of Tropical Storm Fred.

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September 13, 2021

Freddie Mac Reminder: Impact of Hurricane Ida and the California Wildfires

As Freddie Mac confirms their mortgage relief options for borrowers affected by Hurricane Ida and the wildfires in California, they are reminding our Seller/Servicers of the disaster relief policies outlined in Freddie Mac Single-Family Seller Guide Sections 4407.1 and 4407.2, and Freddie Mac Single-Family Servicer Guide Section 8404.

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September 09, 2021

VA Circular 26-21-16 Special Relief Following Hurricane Ida

VA Circular 26-21-16 expresses concern about the Department of Veterans Affairs (VA) home loan borrowers affected by Hurricane Ida and describes measures mortgagees may employ to provide relief.

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September 09, 2021

CoreLogic Estimates $16 Billion to $24 Billion in Insured and Uninsured Flood Losses in the Northeast from Tropical Storm Ida

CoreLogic

CoreLogic released additional loss estimates for Hurricane Ida for the U.S. Northeast at an estimated $16 billion to $24 billion in insured and uninsured inland flood losses to residential and commercial properties.

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September 01, 2021

OCC News Release 2021-88 Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Ida

The Office of the Comptroller of the Currency, Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators, collectively the agencies, recognize the serious impact of Hurricane Ida on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision.

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August 31, 2021

FDIC FIL-60-2021 Guidance to Help Financial Institutions and Facilitate Recovery in Areas of California Affected by Wildfires

The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of California affected by wildfires.

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August 31, 2021

Almost 950K Homes Risk Damage from Ida

DS News--Christina Hughes Babb

CoreLogic is reporting that approximately 941,392 homes in Louisiana, Alabama, and Mississippi could cause an estimated worst-case reconstruction cost value of approximately $220.37 billion.

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August 30, 2021

Emergency Declaration FEMA-3569-EM-Mississippi approved

This emergency declaration assistance covers the following counties, Adams, Amite, Covington, Forrest, Franklin, George, Greene, Hancock, Harrison, Jackson, Jefferson, Jefferson Davis, Jones, Lamar, Lawrence, Lincoln, Marion, Pearl River, Perry, Pike, Stone, Walthall, Wayne, and Wilkinson and the Mississippi Band of Choctaw Indians.

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August 26, 2021

FDIC FIL-58-2021 Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Tennessee Affected by Severe Storms and Flooding

The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Tennessee affected by severe storms and flooding.

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August 23, 2021

VA Technical Amendments - Loan Guaranty: COVID-19 Veterans Assistance Partial Claim Payment Program

VA is making technical amendments to the COVID-19 Veterans Assistance Partial Claim Payment program (COVID-VAPCP) effective August 23, 2021.

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July 30, 2021

VA Extended Eviction Relief for Borrowers Affected by COVID-19

VA Circular 26-21-14 announces the extension of foreclosure-related evictions through September 30, 2021, on properties previously secured by VA-guaranteed loans (including properties in VA’s Real Estate Owned portfolio; excluding vacant or abandoned properties).

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July 30, 2021

FHA Mortgagee Letter 2021-19 Extension of the Foreclosure-Related Eviction Moratorium and Expiration of the Foreclosure Moratorium in Connection with the Presidentially-Declared COVID-19 National Emergency

FHA announces the extension of the foreclosure-related eviction moratorium through September 30, 2021, and reminds servicers of the expiration of the foreclosure moratorium on July 31, 2021.

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July 30, 2021

USDA Expiration of the Foreclosure Moratorium and Extension of Foreclosure Related Eviction Moratorium in Connection with the Presidentially Declared COVID-19 National Emergency

USDA is extending its moratorium on evictions through September 30, 2021 for Single Family Housing Guaranteed Loan Program (SFHGLP) borrowers; however, the foreclosure moratorium remains unchanged and will expire on July 31, 2021.

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