This topic consolidates the latest industry publications pertaining to natural disasters, including FEMA declarations, agency issuance's, and impact analyses from top industry providers.
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.
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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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.
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.
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.
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.
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.
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.
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.
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.
VA is making technical amendments to the COVID-19 Veterans Assistance Partial Claim Payment program (COVID-VAPCP) effective August 23, 2021.
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).
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.
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.
