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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 24, 2020

Ginnie Mae APM 20-13: Notification regarding Loans after Deferment Loss Mitigation

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.

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September 24, 2020

Freddie Mac Guide Bulletin 2020-37

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.

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September 24, 2020

COVID-19 Frequently Asked Questions - Selling

Fannie Mae has updated the COVID-19 Selling FAQs to answer questions about federal student loans and remote online notarization record retention policy.

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September 24, 2020

Fannie Mae Lender Letter LL-2020-04 Impact Covid-19 Appraisals (Updated)

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.

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September 24, 2020

Fannie Mae Lender Letter LL-2020-03 Impact Covid-19 Originations (Updated)

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.

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September 24, 2020

Fannie Mae Lender Letter LL-2020-06 – COVID-19 Selling Loans Forbearance (Updated)

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.

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September 24, 2020

Fannie Mae Supplement 20-15: Updated Oregon COVID-19 Borrower Relief Act Notice of Accommodations

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.

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September 24, 2020

FDIC FIL-92-2020 Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Alabama Affected by Hurricane Sally

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.

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September 24, 2020

Housing Investors Face Risk of Foreclosure

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.

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September 21, 2020

New data finds high level of regret among homebuyers who purchased during COVID-19

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.

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September 18, 2020

Oregon Wildfire Victims Receive HUD Assistance

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).

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September 17, 2020

HUD Offers Assistance For Oregon Wildfire Victims

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.

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September 17, 2020

RIHA Study: New Data Highlights Early COVID-19 Impact on Jobs and Individuals’ Ability to Make Housing and Student Debt Payments

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.

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September 17, 2020

Fed could keep rates near zero through 2023

Mortgage Professional America – Ryan Smith

The Federal Reserve announced that it would keep interest rates close to zero for the near future.

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