- BERMUDA BAY FANNIE MAE FORECLOSURES UPDATE
- BERMUDA BAY FANNIE MAE FORECLOSURES PROFESSIONAL
- BERMUDA BAY FANNIE MAE FORECLOSURES MAC
Revenue from closing services increased to $2.6 million during the first quarter of 2010 from $1.7 million during the first quarter of 2009, representing an increase of 55.5%. This increase is primarily due to an increase in the per file fee we receive for providing such services that became effective as of the beginning of 2010.
BERMUDA BAY FANNIE MAE FORECLOSURES PROFESSIONAL
(” DJSP”, ” we,” ” us” or ” our”) is a holding company whose primary business operations are conducted through three wholly owned subsidiaries, DJS Processing, LLC (” DJS LLC”), Professional Title and Abstract Company of Florida, LLC (” PTA LLC”), and Default Servicing, LLC (” DSI LLC”) of DAL Group LLC (” DAL”), a company in which DJSP holds a controlling interest.
The contents are intended for general informational purposes only, and you are urged to consult your own attorney concerning your situation and specific legal questions you have. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. This alert is a periodic publication of Ballard Spahr LLP and is intended to notify recipients of new developments in the law. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, including electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher. government material.)Īll rights reserved. Based on the extension, the appraisal guidance is now effective for appraisal inspections completed on or before June 30, 2020, and the employment re-verification guidance is effective for cases closed on or before June 30, 2020. Originally, the appraisal guidance was effective for appraisal inspections completed on or before May 17, 2020, and the employment re-verification guidance was effective for cases closed on or before May 17, 2020. HUD in Mortgagee Letter 2020-14 extended the effective date of the employment re-verification and appraisal guidance provided in Mortgagee Letter 2020-05 in view of COVID-19. Additionally, the agencies reminded servicers of the need to evaluate borrowers for the new COVID-19 Payment Deferral starting July 1, 2020. The agencies also changed the requirements for evaluating borrowers affected by COVID-19 for certain modifications by advising that the requirements apply if the borrower was current or fewer than 31 days delinquent as of March 1, 2020, instead of the previous Madate.
BERMUDA BAY FANNIE MAE FORECLOSURES MAC
In addition, Fannie Mae and Freddie Mac updated their property inspection guidance by advising that property inspections must not be completed when the borrower is experiencing a hardship related to COVID-19, unless as of March 1, 2020, (1) the mortgage loan was delinquent, and (2) the proper was confirmed to be vacant or abandoned. HUD also previously announced a foreclosure moratorium for the same period. Previously Fannie Mae and Freddie Mac halted foreclosure activities through May 17, 2020, in accordance with the CARES Act. Department of Housing and Urban Development (HUD) in Mortgagee Letter 2020-13 extended their foreclosure moratoriums through June 30, 2020.
BERMUDA BAY FANNIE MAE FORECLOSURES UPDATE
On May 14, 2020, Fannie Mae in an update to Lender Letter 2020-02, Freddie Mac in Bulletin 2020-16, and the U.S.