HUD Suspends Face-to-Face Requirement in Response to COVID-19

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Rachel Williams The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Coronavirus COVID-19 HOUSING HUD Mortgages Secretary Ben Carson U.S. Department of Housing and Urban Development Coronavirus COVID-19 HOUSING HUD Mortgages Secretary Ben Carson U.S. Department of Housing and Urban Development 2020-03-14 Rachel Williams in Daily Dose, Featured, Foreclosure, Government, News The Best Markets For Residential Property Investors 2 days ago Related Articles  Print This Postcenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Rachel Williams attended Texas Christian University (TCU), where she graduated with Magna Cum Laude with a dual Bachelor of Arts in English and History. Williams is a member of Phi Beta Kappa, widely recognized as the nation’s most prestigious honor society. Subsequent to graduating from TCU, Williams joined the Five Star Institute as an editorial intern, advancing to staff writer, associate editor and is currently the editor in chief and head of corporate communications. She has over a decade of editorial experience with a primary focus on the U.S. residential mortgage industry and financial markets. Williams resides in Dallas, Texas with her husband. She can be reached at [email protected] Demand Propels Home Prices Upward 2 days ago HUD Suspends Face-to-Face Requirement in Response to COVID-19 Early Saturday morning, the U.S. Department of Housing and Urban Development (HUD) issued a partial waiver of 24 CFR 203.604, a servicing policy requiring mortgagees to establish in-person contact with borrowers during early default intervention. This suspension was issued in response to public concerns over the spread of COVID-19.In the partial waiver, which was signed late Friday evening, The Hon. Brian D. Montgomery, Assistant Secretary for Housing – Federal Housing Commissioner states that the policy “is not practical given the public health recommendations being disseminated by local, state, andfederal government agencies to limit contact between individuals, in order to containthe spread of the COVID-19 virus.”In place of the face-to-face requirement, the partial waiver outlines that mortgagees must establish contact via alternate methods, such as phone interviews, email, or video conferencing technology such as skype. This partial waiver is limited to a 12-month period and does not apply to face-to-face requirements in place for the Section 248 insurance program.Montgomery goes on to write that without this measure there would be a risk of “non-compliance by mortgagees as well as borrowers. . . . [that] could hinder the servicing of FHA-insured loans.”HUD also affirmed uninterrupted operations for its partners, stating, “the Federal Housing Administration (FHA) wants to assure its mortgagees and other interested stakeholders of its continued business operations in this evolving environment. Should FHA Single Family be required to close some or all its offices, our business operations will continue as usual; however, with some possible delays.”To address additional concerns stemming from COVID-19, the office released a “COVID-19 Questions and Answers” document. In it, FHA outlines loss-mitigation options available to borrowers who may be negatively impacted by the coronavirus, stating:As with any other event that negatively impacts a borrower’s ability to pay their monthly mortgage payment, FHA’s suite of loss mitigation options provides solutions that mortgagees should offer to distressed borrowers–including those that could be impacted by the Coronavirus–to help prevent them from going into foreclosure. An example of one of these options is our Special Forbearance for unemployed borrowers. The SFB-Unemployment Option is a Home Retention Option available when one or more of the Borrowers has become unemployed and this loss of employment has negatively affected the Borrower’s ability to continue to make their monthly Mortgage Payment.In a statement earlier this week, Federal Housing Finance Agency (FHFA) Director Mark Calabria also addressed how the FHFA, as well as Fannie Mae and Freddie Mac, are focusing their response by providing guidance to servicers.“To meet the needs of borrowers who may be impacted by the coronavirus, last week Fannie Mae and Freddie Mac reminded mortgage servicers that hardship forbearance is an option for borrowers who are unable to make their monthly mortgage payment,” Calabria said.In addition, industry groups are coming together to support homeowners who may impact impacted by COVID-19. On Friday, DS News reported that under the direction of the National Mortgage Servicing Association (NMSA), leaders from across the mortgage industry are joining forces to create the COVID-19 Mortgage Industry Task Force (ITF) to coordinate on processes, procedures, and policies related to the crisis.More than 25 mortgage banks and nonbank servicers, legal professionals, and service providers will take part in the coalition.”The speed of response from the industry has been unparalleled,” said Ed Delgado, President and CEO of Five Star Global. “We will continue to work with industry groups such as the Mortgage Bankers Association to focus on practical solutions for both the near-term and long-term impacts of COVID-19, in order to assist homeowners and to ensure the stability of the American housing market.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago March 14, 2020 16,780 Views Previous: Casting a Net for Cybersecurity Next: Biden, Sanders Address Possible Bailout & Mortgage Impact During Presidential Debate Home / Daily Dose / HUD Suspends Face-to-Face Requirement in Response to COVID-19 Subscribelast_img read more

HMAS Bathurst contributes to protection of Australian EEZ

first_img View post tag: Royal Australian Navy Australian Navy patrol boat contributes to protection of Australian Exclusive Economic Zone Share this article Authorities November 2, 2016center_img View post tag: HMAS Bathurst Royal Australian Navy’s Armidale-class patrol boat HMAS Bathurst recently took part in a multi-agency Operation Resolute patrol in the Torres Strait with Australian Border Force vessel Storm Bay and Australian Fisheries and Management Agency officers. Focusing on the area in the North Torres Strait around Saibai Island, Bathurst in company with Storm Bay demonstrated the importance of interoperability between government agencies by conducting a combined boarding team insertion to Saibai Island to disrupt illegal fishing and incursions.Australian Border Force and Navy vessels are regularly assigned to Resolute at the same time but it is rare for all three agencies to combine on a joint operation to enforce Australian Fisheries Law, the navy said.Lieutenant Michael Morgan, executive officer Bathurst noted that the combined boarding operation allowed personnel from all three agencies to exchange ideas, compare equipment and familiarise themselves with different procedures.“Combined training ensures we are constantly evolving our tactics and techniques,” Lieutenant Morgan said.Commanding Officer Bathurst, Lieutenant Commander David Shirvington also took the opportunity to re-establish local relationships by conducting a visit to Saibai to meet with the Saibai Island Council to discuss local concerns regarding illegal fishing within the region. Back to overview,Home naval-today Australian Navy patrol boat contributes to protection of Australian Exclusive Economic Zone last_img read more