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Consumer Advocates Concerned Over Non-Borrowing Spouses Facing Foreclosure

first_img March 16, 2015 1,699 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Home Equity Lines of Credit HUD Non-Borrowing Spouses Consumer Advocates Concerned Over Non-Borrowing Spouses Facing Foreclosure The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: FHFA Director ‘Very Proud’ of Agency’s Progress on Strategic Plan Initiatives Next: FHFA, Nomura Trial Expected to Continue for a Month About Author: Brian Honea Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Home / Daily Dose / Consumer Advocates Concerned Over Non-Borrowing Spouses Facing Foreclosure Home Equity Lines of Credit HUD Non-Borrowing Spouses 2015-03-16 Brian Honea Related Articles Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Share Save  Print This Post A group of consumer advocates has expressed concern over non-borrowing spouses facing foreclosure and eviction following the death of a borrowing spouse, according to comments the group recently submitted totaling 65 pages to the U.S. Department of Housing and Urban Development (HUD).HUD and FHA amended the Home Equity Conversion Mortgage (HECM) program in January to prevent reverse mortgage lenders from calling the note from a surviving non-borrowing spouse. The amendment allowed for deferral of “due and payment status” for eligible non-borrowing spouses, hence deferring the foreclosure process, for FHA case numbers assigned on or after August 4, 2014 and for certain eligible HECMs and surviving non-borrowing spouses for case numbers issued before August 4, 2014.The comments were submitted by the National Consumer Law Center on behalf of its low-income clients, Consumers Union, California Reinvestment Coalition, Housing and Economic Rights Advocates, Institute on Aging, and The National Housing Law Project. The groups claim in their letter that HUD amended its HECM policy in response to several lawsuits filed on behalf of non-borrowing spouses facing eviction, but they claim that even with the amendment, not enough people will qualify for the benefits because reverse mortgages originated prior to August 2014 did not take into account the often younger surviving spouse’s age.In order for the non-borrowing spouse to qualify for the HECM relief and keep their house under the amendment, first off, the servicer has to agree to assign the loan to HUD rather than pursue foreclosure.  In addition, the surviving spouse must be either older or the same age as the deceased borrower at the time the loan was originated – or the surviving spouse must pay off the entire loan amount or 95 percent of the home’s value.These requirements keep many from qualifying, because in many cases the surviving spouse is younger, and on top of that, they don’t have the money available to pay such a large sum.One of the big problems the groups are facing with this issue is that HUD has not revealed how many people are affected or how many non-borrowing, surviving spouses are facing eviction and foreclosure.”Though HUD stated that it would consider the cost, legality and practicality of its action with respect to non-borrowing spouses, the agency has not provided data or information to support its analysis, conclusions or recommendations,” the letter said. “Indeed, the agency has yet to provide information on the scope of the problem. Nor has HUD disclosed information regarding the actual number of outstanding loans with non-borrowing spouses.”In a report by the Consumer Financial Protection Bureau last month on consumer complaints regarding reverse mortgages, the most frequent complaint was on surviving, non-borrowing spouses suddenly facing foreclosure upon the death of a borrowing spouse. The report stated that “some consumers report that their loan originator falsely assured them they would be able to add the other spouse to the loan at a later date.” Similarly, others complained that the loans are often difficult to repay and that lenders often throw obstacles in the way when consumers take steps to avoid foreclosure.The government now requires loan underwriters consider the non-borrowing spouse’s age, which solves the problem for newly originated loans. It remains to be seen what will happen with those originated before last August, however. Sign up for DS News Daily in Daily Dose, Featured, Government, Newslast_img read more

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FHFA: Current G-Fees Are at an Appropriate Level, Only Modest Adjustments Needed

first_imgHome / Daily Dose / FHFA: Current G-Fees Are at an Appropriate Level, Only Modest Adjustments Needed FHFA: Current G-Fees Are at an Appropriate Level, Only Modest Adjustments Needed Demand Propels Home Prices Upward 2 days ago Share Save Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland.  Print This Post Fannie Mae FHFA Freddie Mac Guarantee Fees 2015-04-17 Brian Honea Following weeks of debate over whether the Federal Housing Finance Agency (FHFA) would be lowering its fees to guarantee mortgages backed by Fannie Mae and Freddie Mac, the Agency announced Friday that G-fees would stay at their current levels with only modest adjustments.A comprehensive review of the G-fees determined that the current fees charged are at an appropriate level. The review also determined that some modest adjustments to upfront guarantee fees are appropriate, according to FHFA.”This is the culmination of months of review and analysis and reflects input received from a wide range of stakeholders,” FHFA Director Melvin L. Watt said. “Our goal is to assure taxpayers, homeowners and industry that we are striving for an appropriate balance between safety and soundness and liquidity in the housing finance market.”When considering adjustments to G-fees for certain categories of loans, FHFA took into account the decision (also announced Friday) to enhance the eligibility standards for mortgage insurance companies. Overall, the FHFA said, the modest changes being made to the upfront G-fees are revenue neutral and will mean little or no change for Fannie Mae and Freddie Mac.FHFA is directing the GSEs to remove the adverse market charge put in place in March 2008 (six months before the FHFA’s conservatorship of the GSEs began) and replace the revenue that resulted from the adverse market charge with targeted G-fee increases to address various risk-based and access-to-credit considerations.Click here to see a fact sheet on the current guarantee fees and the complete results of FHFA’s recently-completed review. According to FHFA, the Agency will continue to monitor the G-fees on an ongoing basis and make any appropriate changes as needed. The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Previous: Judge Rules Wells Fargo Breached Terms of 2010 Mortgage Settlement Next: DS News Webcast: Monday 04/20/15 About Author: Brian Honeacenter_img Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Government, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles April 17, 2015 1,080 Views Tagged with: Fannie Mae FHFA Freddie Mac Guarantee Fees Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

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GSEs Approaching Foreclosure Prevention Milestone

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles GSEs Approaching Foreclosure Prevention Milestone Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea Previous: Counsel’s Corner: Ruling Puts Lenders on the Hook for Unpaid Assessments Next: Comptroller Issues Warning to Banks on Credit Risk Fannie Mae FHFA Foreclosure Prevention Actions Foreclosure Starts Freddie Mac Mortgage Delinquencies 2015-12-16 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Share Save The Best Markets For Residential Property Investors 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland.  Print This Post in Daily Dose, Featured, Loss Mitigation, News Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Fannie Mae FHFA Foreclosure Prevention Actions Foreclosure Starts Freddie Mac Mortgage Delinquencies The Best Markets For Residential Property Investors 2 days ago December 16, 2015 1,567 Views Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / GSEs Approaching Foreclosure Prevention Milestone Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Federal Housing Finance Agency (FHFA), conservator of Fannie Mae and Freddie Mac, reported that the GSEs have completed almost three million home retention actions since the beginning of the conservatorships in September 2008.The FHFA’s Foreclosure Prevention Report for the Third Quarter of 2015 released Wednesday, the Agency found that Fannie Mae and Freddie Mac have completed a total of nearly 3.6 million foreclosure prevention actions in the history of the conservatorships as of the end of Q3 2015—and more than 2.9 million of those actions have helped struggling borrowers stay in their homes.Q3’s total of 54,744 foreclosure prevention actions during Q3 was a dropoff of approximately 9,000 from Q2, but it was still more than the 26,989 third-party sales and foreclosure sales the Enterprises completed during Q3, according to FHFA. As property dispositions continued to outpace property acquisitions, the number of REO properties owned by the GSEs took another substantial downward turn in Q3, from 86,515 in the previous quarter down to 77,204 (11 percent).Curiously, the number of foreclosure starts increased from Q2 to Q3, from 62,364 up to 66,192, while the number of loans backed by Fannie Mae and Freddie Mac that were 30 to 59 days delinquent also rose in Q3 from 385,982 (1.39 percent of GSE-backed mortgage loans) up to 405,412 (1.46 percent of GSE-backed loans). The FHFA would not comment on any aspect of the report.Even with the uptick in the number of 30 to 59 day delinquencies, the Enterprises’ share of seriously delinquent mortgages—that is, 90 days or more overdue or in foreclosure—declined quarter-over-quarter in Q3 from 1.61 percent down to 1.52 percent and compared favorably with seriously delinquent mortgage loans owned or guaranteed by other government agencies such as the Federal Housing Administration (5.4 percent) and Veterans Affairs (2.9 percent). The industry-wide average for all mortgage loans was 3.6 percent, according to FHFA.Click here to view the FHFA’s complete Foreclosure Prevention Report for Q3 2015. Subscribelast_img read more

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Five Star CEO Addresses Industry at Disaster Preparedness Symposium

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago July 31, 2019 3,475 Views Related Articles About Author: Mike Albanese The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Five Star CEO Addresses Industry at Disaster Preparedness Symposium Natural Disasters 2019-07-31 Mike Albanese Sign up for DS News Daily Home / Daily Dose / Five Star CEO Addresses Industry at Disaster Preparedness Symposium The Best Markets For Residential Property Investors 2 days agocenter_img Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Previous: Measuring Distressed Property Prices Next: Freddie Mac Reports Increased Income The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Hurricane Katrina caused more than $81 billion in property damage and killed more than 1,800 people more than a decade ago. Fourteen years later, industry leaders returned to New Orleans not to react, but to prepare, at the 2019 Five Star Disaster Preparedness Symposium. During his opening remarks at the Symposium, before hundreds of assembled business leaders, Five Star Global President & CEO Ed Delgado addressed the legacy of Hurricane Katrina, both on the city of New Orleans itself and in the form of important lessons taken away from the response to that event and those that came later.Delgado discussed how houses are marked in the aftermath of a disaster, as well as the impact of flooding in Houston in the aftermath of Hurricane Harvey. A strong focus for both Delgado’s remarks and the tenor of the event as a whole was on how the industry can better prepare for future disasters.”The impact of natural disasters upon housing is, and will remain, a critical focus for our industry,” Delgado said. “It is crucial that we maintain an open dialogue with all stakeholders to ensure that we, as an industry, are better positioned to mitigate losses and assist homeowners in their time of need.”Delgado recently appeared on CNBC in a featured series, “Rising Risks,” covering the impact of natural disasters upon the U.S. residential housing system.Over the course of the day, industry leaders from Fannie Mae, Freddie Mac, Mortgage Contracting Services, DIMONT, and others discussed topics such as crisis communication, preparation, technology, and protecting borrowers from fraud. The event also included a segment focused on Puerto Rico’s ongoing recovery efforts, two years ago Hurricane Maria devastated the island. Mabel Guzman, President of the Chicago Association of Realtors, told DS News that she hoped to “learn about solutions and how to effectively mitigate and prepare at every level,” from city to state to Federal. Richard Roniger, Single-Family Performance Management Director at Freddie Mac, said that events such as the Disaster Preparedness Symposium are an opportunity to share best practices and new solutions, so “we can collectively help borrowers when they need it the most.” He also spotlighted the importance of discussing and learning about “new technology and products that could advance our industry, as well as efforts to assist servicers when dealing with disaster-impacted mortgages.” Guzman, who welcomed attendees with an overview of the day’s discussion, addressed Congress in March, along with the National Association of Realtors, urging them to work toward long-term, sustainable reforms for the National Flood Insurance Program (NFIP). The NFIP was set to expire on May 31, but was granted a last-minute extension—the 12th in two years. Guzman, however, told DS News that she is not confident a long-term solution will ever be agreed on. “A long-term solution is not likely,” Guzman said. “We may see another short-term extension while they work out details, or just another one-year extension.” The NFIP covers 5 million policyholders in flood-prone areas. The Senate had approved two bills to extend the program: the first is part of the disaster relief legislative package that would extend the NFIP through September 30, and the second would provide a two-week extension.Denis Brosnan, President and CEO of DIMONT, told DS News that technology has played a large role in tracking disasters for many years, and that companies are now taking full advantage of its capabilities. “As the availability of data continues to grow, as well as the specificity of that data continues to become more readily available, disaster-impact data can then be matched back to a portfolio of properties within as soon as one week after the disaster,” said Brosnan, who is moderating a Symposium panel on disaster technology. “This is accomplished through tighter integrations across third parties and their related providers. Additionally, through real-time alerts and notifications of weather events as they occur … we are able to expand and contract impacted property areas as the size and scope of the disaster changes, which in turn supports better understanding of storm impacts (damage, insurance claims, etc.) and faster response times by service providers.”Tim Carpenter, Fannie Mae’s Director, Disaster Response & Rebuild, Housing Access, gave an update on Puerto Rico’s rebuild two years after Hurricane Maria. He said working with the Commonwealth and FEMA has been helpful, and there has been progress on homes with mortgages, but there continues to be a struggle in non-traditional housing. “No clear title, no permits, no code—you combine these issues and it becomes much more difficult to get a mortgage to repair or sell that home,” Carpenter said. Hurricane Maria served as a harsh reminder of how important it is to prepare before a natural disaster strikes. “Post Maria even gathering and sharing information was a challenge. Now our Puerto Rican lenders understand that in order to work better together, we need to all have the detailed information. Luckily, better communications and better relationships now exist,” he said.  Subscribe in Daily Dose, Featured, Government, Loss Mitigation, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Natural Disasterslast_img read more

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Delinquencies Hit Seasonal Uptick

first_img Tagged with: Delinquency About Author: Seth Welborn October 24, 2019 1,316 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save September saw a slight seasonal uptick in delinquencies, up by 2% from August, but according to the First Look at September mortgage performance data from Black Knight, the national delinquency rate was still down 11% from this time last year, reflecting on ongoing decline in delinquencies.The seasonal uptick means the total non-current inventory has increased by around 40,000, but that inventory is down 211,000 from last year. The lowest non-current rates, including delinquencies plus active foreclosures) can be found in Western states, including Colorado, Oregon, Washington, Idaho, and California. Additionally, Black Knight notes that the number of loans in active foreclosure continues to decline as well, while the active foreclosure inventory has fallen to its lowest level since late 2005. Prepayment activity (SMM) rose by 3% from August despite facing headwinds from the typical seasonal decline in home sale-related prepayments, and prepays are now up 121% from the same time last year as falling rates continue to spur refinance activity.As delinquencies have slipped in recent months, home prices have stayed relatively flat. In August, home price growth sat at 3.8%, after rising for the first time in 17 months in July. June’s annual home price growth rate of 3.7% was the smallest in almost seven years before trending upward. “It remains to be seen if this is merely a lull in what could be a reheating housing market, or a sign that low interest rates and stronger affordability may not be enough to muster another meaningful rise in home price growth across the U.S,” said Black Knight Data & Analytics President Ben Graboske. “That the strongest gains in—and strongest levels of—affordability were in August and early September could bode well for September/October housing numbers. As such, we’ll be keeping a close eye on the numbers coming out of the Black Knight Home Price Index over the coming months.”  Print This Post Previous: The Mortgage Customer Connection Next: Supreme Court Appoints Former Solicitor General to Defend CFPB Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Delinquencies Hit Seasonal Uptick The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Delinquency 2019-10-24 Seth Welborn Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Delinquencies Hit Seasonal Uptick Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

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Mortgage Bankers are Making Higher Profits

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Major Impacts on Delinquency Rates Nationwide Next: Challenges Ahead for Mortgage Servicing in 2020 Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Seth Welborn Home / Daily Dose / Mortgage Bankers are Making Higher Profits Data Provider Black Knight to Acquire Top of Mind 2 days ago bankers Servicing 2019-11-27 Seth Welborn Tagged with: bankers Servicing  Print This Post Independent mortgage banks (IMB) hit a seven-year high in profits in Q3 2019, according to the Mortgage Bankers Association (MBA). in Q3, IMBs and mortgage subsidiaries of chartered banks reported a net gain of $1,924 on each loan they originated up from a reported gain of $1,675 per loan in Q2 2019.”A surge in refinance activity and a healthy purchase market led to robust mortgage volume in the third quarter, pushing up production profits to a high not seen since the fourth quarter of 2012 ($2,256 per loan),” said Marina Walsh, MBA’s VP of Industry Analysis. “The increase in profits was primarily driven by declining production expenses and higher loan balances, which mitigated the effects of lower basis-point revenue.”The purchase share of total originations, by dollar volume, decreased to 60% in the third quarter from 74% in the second quarter. For the mortgage industry as a whole, MBA estimates the purchase share was at 62% last quarter.Servicing net financial income for Q3 was a loss of $62 per loan, compared to a loss of $74 per loan in Q2. Servicing operating income, which excludes MSR amortization, gains/loss in the valuation of servicing rights net of hedging gains/losses and gains/losses on the bulk sale of MSRs, was $43 per loan in the third quarter, compared to $42 per loan in the second quarter.Additionally, total loan production expenses decreased to $7,217 per loan in Q3, down from $7,725 per loan in Q2. From the third quarter of 2008 to last quarter, loan production expenses have averaged $6,481 per loan.“With higher prepayment activity seen from borrowers refinancing, net servicing income did take a hit for the second straight quarter. Overall, it was a strong summer for independent mortgage banks, with 91 percent reporting profitability,” Walsh added. Mortgage Bankers are Making Higher Profits The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. center_img Share Save Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago November 27, 2019 996 Views Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

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Single-Family Temporary Flexibilities Extended, FHA Announces

first_img Single-Family Temporary Flexibilities Extended, FHA Announces February 23, 2021 11,857 Views The Federal Housing Administration (FHA) Tuesday announced extensions of a set of policy flexibilities for single-family lenders and servicers, part of its effort to maintain new mortgage originations for homebuyers and allow 203(k)-funded rehabilitation projects to continue, even throughout the COVID-19 pandemic.FHA’s Limited 203(k) program permits homebuyers and homeowners to finance up to $35,000 into their mortgage to repair, improve, or upgrade their homes. Homebuyers and homeowners can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or an FHA appraiser. “Homeowners can make property repairs, improvements, or prepare their home for sale,” according to FHA. “Homebuyers can make their new home move-in ready by remodeling the kitchen, painting the interior, or purchasing new carpet.”According to a press release from FHA, “these temporary policies recognize the sustained need for flexibility during this critical time to ensure mortgage financing remains available for the nation’s low- and moderate-income homebuyers and that home rehabilitation work can continue.”As of Tuesday, the temporary policies will be in place through June 30, 2021.HUD Office of Housing and Federal Housing Administration Principal Deputy Assistant Secretary Lopa Kolluri says the extensions allow lenders to continue originating and closing mortgages designated for FHA insurance endorsement during the pandemic and assist the completion of critical in-progress home repairs.The Mortgagee Letter 2021.06 and new Mortgagee Letter 2021.07 outline details and background of the policies related to Single Family Title II and Home Equity Conversion Mortgages (HECM).Under the extension, the following allowances exist, according to the news release: “Use of an exterior-only appraisal scope of work; and re-verification of employment, verification of self-employment income, and verification of rental income.”FHA added that for Single Family Title II forward 203(k) rehabilitation mortgages only,it also is extending temporary policies for the administration of 203(k) Rehabilitation Mortgage Insurance Program escrow accounts for borrowers in forbearance.Any questions regarding the mortgagee letters may be directed to the FHA Resource Center at 1.800.CALL.FHA. For additional information on the topic, visit hud.gov/answers. The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Single-Family Temporary Flexibilities Extended, FHA Announces  Print This Post Related Articles Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. 2021-02-23 Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Investors Take Note: Top Locations for Gen Z Renters Next: Roughly 2.1 Million Homeowners Remain 90+ Days Overdue Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share 2Save The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

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HUD Removes Barriers to Puerto Rico’s Disaster Relief Funds

first_imgHome / Daily Dose / HUD Removes Barriers to Puerto Rico’s Disaster Relief Funds in Daily Dose, Featured, Government, Market Studies, News April 26, 2021 4,351 Views Previous: AHP Servicing Appoints New President Next: Forbearance Update: How Are Rates Changing? HUD Removes Barriers to Puerto Rico’s Disaster Relief Funds Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. 2021-04-26 Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Puerto Rico’s hurricane recovery efforts—specifically those following Hurricane Maria in 2017—have been slow compared to that of other parts of the United States. The New York Times reported back in February that that is due in part to restrictions on Puerto Rico’s aid funds put in place by The Department of Housing and Urban Development (HUD) under the previous administration.The Biden administration at the time reportedly began working to remove some of those spending restrictions put in place after Maria, and progress has been made in the past several days.Last week, HUD announced it would remove those “onerous restrictions” unique to Puerto Rico, which prevented the island’s access to recovery funds allocated in 2017, following Maria. The department also said last week that it owes a total of $8.2 billion in Community Development Block Grant Mitigation funds to Puerto Rico.Last week’s actions are the latest in an ongoing whole-of-government effort to support the island’s recovery and renewal, according to the department.“Since its first days, the Biden-Harris Administration has prioritized action to enable stronger recovery for Puerto Rico,” said HUD Secretary Marcia L. Fudge. “…HUD will unlock access to funds Puerto Rico needs to recover from past disasters and build resilience to future storms while ensuring transparency and accountability. We are committed to an ongoing partnership with Puerto Rico to empower the island’s communities and help them build back better.”Among the restrictions removed by HUD are the incremental grant obligations and review by the Federal Financial Monitor. HUD also removed the requirement for Puerto Rico to request and submit any certification, observations, and recommendations by the Financial Oversight and Management Board, beyond what is already required by law.The announcements come on the heels of an investigation looking into why officials withheld about $20 billion in hurricane relief for Puerto Rico following the devastating aftermath the 2017 hurricane, reportedly one of the deadliest U.S. natural disasters in over 100 years.A HUD Office of Inspector General report released Thursday found “unprecedented procedural hurdles that produced delays in the disbursement of the congressionally approved funds.”Community Development Block Grant Disaster Recovery funds enable grantees to address significant unmet needs for long-term recovery, including disaster relief, long-term recovery, restoration of infrastructure, housing, and economic revitalization.Program funds can be used in areas impacted by recent disasters to carry out strategic and high-impact activities to mitigate disaster risk and reduce future losses.Both NBC and The New York Times have reported that neither former HUD Secretary Benjamin Carson nor former President Trump responded to requests for comment on the situation. Nor did they respond to queries from DS News in February. But a HUD representative named Michael Burns told the Times in February that the effort by Biden to resume aid to Puerto Rico represents an attempt to “reset” its relationship with the island. He says this “will help the island build resilience to future storms and floods.”Want to learn more about navigating disaster in your own sphere? Five Star’s Disaster Preparedness 2021 Virtual Experience will be held Wednesday, July 14. Not another webinar or Zoom call, Disaster Preparedness 2021 is a business immersion experience in a full-scale virtual conference environment, complete with an expo hall, breakout sessions, and interactive networking opportunities. This year’s agenda features six educational panels covering topics regarding the COVID-19 pandemic, technology, regulatory insights, extreme weather, risk mitigation, and more. Click here for more information on Five Star’s Disaster Preparedness 2021 Virtual Experience. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily  Print This Post Related Articleslast_img read more

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Deputy McHugh calls for review of last year’s decision to means test Farm…

first_imgNews 448 new cases of Covid 19 reported today By News Highland – June 20, 2013 Google+ RELATED ARTICLESMORE FROM AUTHOR Fine Gael TD Joe McHugh has called for a review of last year’s decision to means test Farm Assist.Speaking in the Dail, Deputy McHugh said that changes in Budget 2013 to the Farm Assist scheme have put pressure on many farmers with small holdings.The Donegal North East Deputy cited the example of one single-income Donegal farmer with two children whose Farm Assistance payment was cut from by €200 per week.This, he said, will lead smaller farmers to leave the industry…………[podcast]http://www.highlandradio.com/wp-content/uploads/2013/06/joe.mp3[/podcast] Three factors driving Donegal housing market – Robinson WhatsApp Facebook Calls for maternity restrictions to be lifted at LUH Twitter Deputy McHugh calls for review of last year’s decision to means test Farm Assistcenter_img Previous articleNorth’s Transport Minister says A5 funding should be redeployedNext articleDecision not to sell off harvesting rights welcome – Senator Harte News Highland Facebook Google+ Twitter Pinterest Help sought in search for missing 27 year old in Letterkenny WhatsApp NPHET ‘positive’ on easing restrictions – Donnelly Pinterest Guidelines for reopening of hospitality sector publishedlast_img read more

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Election Candidates urged to be mindful of where they erect posters

first_img WhatsApp Nine Til Noon Show – Listen back to Wednesday’s Programme Election Candidates urged to be mindful of where they erect posters Pinterest Facebook Help sought in search for missing 27 year old in Letterkenny News, Sport and Obituaries on Wednesday May 26th Concern has been raised in relation to where Election campaigners are erecting their posters with claims that some are creating serious safety hazards in Donegal.There have been reports of posters being erected on signposts, blocking important signs for motorists.In one case at the Kilross junction between Letterkenny and Stranorlar some posters are blocking a warning sign.Road Safety Officer with DCC Brian O’Donnell is urging candiates to be mindful of where they are putting up their posters:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/02/brian1pm.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. By admin – February 12, 2016 Google+ Three factors driving Donegal housing market – Robinson Google+center_img RELATED ARTICLESMORE FROM AUTHOR Twitter Homepage BannerNews Previous articlePringle’s team questions why West Donegal was left out of Fianna Fail leaders visitNext articleAnother rock brings an end to Meeke’s hopes in Rally Sweden admin Pinterest Twitter WhatsApp 448 new cases of Covid 19 reported today Facebook NPHET ‘positive’ on easing restrictions – Donnelly last_img read more