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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DS News--Eric C. Peck
CoreLogic reports that severe thunderstorm activity from June 11-15 brought strong straight-line winds, record-sized hail, and tornadoes, causing substantial damage with an estimated $7-$10 billion in insured loss to property across the U.S.
MBA Newslink--Anneliese Mahoney
CoreLogic is reporting that 33 million U.S. properties are at risk of hurricane-force wind damage, with a reconstruction cost value of $11.6 trillion, as the 2023 hurricane season begins.
DS News--Eric C. Peck
CoreLogic's latest estimates that wind losses for residential and commercial properties in Florida due to Hurricane Ian are expected to be between $22 and $32 billion, while insured storm surge losses in Florida are expected to be an additional $6 to $15 billion.
The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of New Mexico affected by wildfires and straight-line winds.
"By partnering with ACES, we have witnessed an overall improvement in the quality of our reviews."
-Hilda Melendez, Quality Control Systems Director at Lennar Mortgage
DS News--Demetria Lester
HUD is providing federal disaster assistance to supplement state and local recovery efforts in multiple Kansas counties affected by severe storms and straight-line winds in December 2021.
DS News--Demetria Lester
HUD is implementing federal disaster assistance in the areas of Hawaii affected by severe storms, flooding, and landslides during the period of December 5th - December 10th, 2021.
The FDIC is providing guidance intended to provide regulatory relief to financial institutions and facilitate recovery in affected areas of Arkansas from the severe storms and tornadoes.
FEMA has published a resource page for the Kentucky storm disaster declaration on December 12, 2021.
ACES allowed Cardinal Financial to:
Lender Letter LL-2021-07, COVID-19 Payment Deferral and Fannie Mae Flex Modification for COVID-19 has been updated in regard to requirements related to performing an escrow analysis.
USDA announces the removal of the September 30, 2021 deadline for a borrower to request loan assistance due to the COVID-19 National Emergency borrowers may request assistance until the end of the National Emergency is declared.
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.
