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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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May 05, 2021

FDIC FIL-31-2021 Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Kentucky Affected by Severe Storms, Flooding, Landslides, and Mudslides

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

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May 05, 2021

FDIC FIL-32-2021 Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Alabama Affected by Severe Storms, Straight-line Winds, and Tornadoes

FDIC announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Alabama affected by severe storms, straight-line winds, and tornadoes.

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April 21, 2021

Freddie Mac Bulletin 2021-15 Selling Updates Related to COVID-19 – Extension with Notice of Expiration

Freddie Mac Bulletin 2021-15 extends the effective date through May 31, 2021, for appraisal flexibilities; completion report flexibilities, including builder certification and GreenCHOICE® Mortgage flexibilities; and CHOICERenovation® Mortgage flexibilities.

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April 21, 2021

SBA Updated Notice on First Draw Paycheck Protection Program Loan Increases After Enactment of the Economic Aid Act

The Small Business Administration (SBA) extended the Paycheck Protection Program application period through May 31, as well as the SBA processing period an additional 30 days.

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April 21, 2021

New York COVID-19 Forbearance Extension Period

New York Senate Bill 2508 PART LL extends the "covered period" for forbearance of residential mortgage payments from March 7, 2020, until the latter of December 31, 2021, or the date on which COVID-19 Executive Orders continue to apply in the county of the qualified mortgagor's residence.

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April 13, 2021

Florida Circuit Courts Ordered to Move Pending Foreclosure Cases

DS News--Jane Bond, Managing Partner, McCalla Raymer Leibert Pierce's Florida Litigation Group

Florida's Supreme Court issued Amendment 10 to the Comprehensive COVID-19 Emergency Measures for Florida Trial Courts, which requires the Chief Judges of each Florida Circuit Court to issue an administrative order directing the Circuit Court Judges to “actively manage their civil cases.”

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March 15, 2021

FDIC FIL-18-2021 Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Louisiana Affected by Severe Winter Storms

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

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March 11, 2021

Fannie Mae COVID-19 Frequently Asked Questions - Selling - Updated

Fannie Mae has updated Q61 in the COVID-19 Selling FAQs to clarify the requirement on new loan eligibility after COVID-19 loss mitigation and provide examples.

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March 11, 2021

Fannie Mae Lender Letter (LL-2021-04) Impact of COVID-19 on Appraisals - Updated

Fannie Mae updated Impact of COVID-19 on Appraisals Lender Letter (LL-2021-04) to extend the application dates eligible for certain temporary flexibilities to April 30, 2021, and announces the temporary policies related to condominium project reviews and borrower-provided photos for completion draws for HomeStyle® Renovation loans will not be extended beyond April 30, 2021.

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March 11, 2021

Fannie Mae Lender Letter (LL-2021-03) Impact of COVID-19 on Originations

Fannie Mae updated the Impact of COVID-19 on Originations Lender Letter (LL-2021-03) to extend the verbal verifications of employment and power of attorney flexibilities to April 30, 2021 and notes that this will be the final extension for these policies.

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March 11, 2021

Freddie Mac COVID-19 Selling-related Frequently Asked Questions (FAQs) - Updated

Freddie Mac has published updated COVID-19 Selling-related Frequently Asked Questions (FAQs).

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March 11, 2021

Freddie Mac Bulletin 2021-10: Selling Updates Related to COVID-19

Freddie Mac Bulletin 2021-10 extends the effective date of the temporary underwriting flexibilities related to COVID-19 to apply to mortgages with application received dates through April 30, 2021, and that for the temporary flexibilities related to 10-day pre-closing verifications, condominium projects, and powers of attorney, this will be the final extension.

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March 11, 2021

House Gives Final Approval to $1.9 Trillion Stimulus Package

Mortgage Bankers Association – Mike Sorohan

The House approved a $1.9 trillion economic stimulus package to provide relief to millions of Ameican affected by the pandemic.

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March 10, 2021

Why Hawaii and Nevada had the largest delinquency spike in December

Mortgage Professional America – Candyd Mendoza

Hawaii and Nevada suffered the most significant annual increase in overall delinquency rates in 2020.

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