All posts by Christina Wiley

Upcoming MLO CE Courses

New York MBA has specialized pricing for LO continuing education just in time! After the crush of high loan origination volume experienced in the past few months and before the end of the year, NYMBA has arranged a live streaming CE course for licensed loan officers. All LOs of Corporate Members receive discounted pricing. Call NYMBA for discount code.  This course is offered in 2-half day sessions on November 3 & 10, with two options: 1.  8-hour NMLS courses: 8am-12:00pm Member price: $99     Future…

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New York and the Ever-Changing Foreclosure Landscape

In the first of NYMBA’s Loan Servicing “HOT TOPICS” Webinars, practicing subject matter experts will kick-off this session talking about NY Foreclosures and the Court system, Lack of Standing and the Statute of Limitations, as well as other nuances that have developed in recent months. As we continue to navigate through 2020, arguably one of the most challenging years for our industry and New York, it is important to stay connected and updated on the ever-shifting landscape. NYMBA remains committed to our industry and its…

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FHFA Extends COVID-Related Loan Processing Flexibilities for Fannie Mae and Freddie Mac Customers

The Federal Housing Finance Agency (FHFA) is extending several loan origination flexibilities currently offered by Fannie Mae and Freddie Mac (the Enterprises) designed to help borrowers during the COVID-19 national emergency. Flexibilities extended until at least July 31st include: Alternative appraisals on purchase and rate term refinance loans; Alternative methods for verifying employment before loan closing; Expanding the use of power of attorney and remote online notarizations to assist with loan closings; and Authority to purchase mortgages in forbearance.

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Join Mortgage Action Alliance

New York is the financial capital of the country, and as such, should have the highest number of MAA members.  Right now, New York is not the leader in MAA members. New York Real estate finance professionals need to be engaged in a vital way that directly impacts the way you do business.  Whether you’re the CEO, CFO, CIO, Vice-President, Manager, Underwriter, Processor, Closer, QC, Servicer,  in the Secondary Market–YOUR VOICE SHOULD BE HEARD. YOU SHOULD JOIN MAA–TODAY! Follow this link to complete a simple form. …

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FHA Extends Remote Work Flexibilities for Lenders and Appraisers

In addition to to issuing an extension of FHA’s foreclosure and eviction moratorium for single family homeowners, FHA also announced an extension for remote work flexibilities. Extensions Through June Provide Peace of Mind to Struggling Homeowners While Supporting New Mortgage Originations During COVID-19 Recovery WASHINGTON -5/14/2020  The Federal Housing Administration (FHA) announced an extension of its foreclosure and eviction moratorium through June 30, 2020, for homeowners with FHA-insured Single Family mortgages, while also supporting new FHA-insured mortgage originations through an extension of temporary policy flexibilities for lenders and appraisers.…

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Latest Foreclosure Prevention & Refinance Report Released

The Foreclosure Prevention & Refinance Report and Federal Property Manager’s Report as of February 2020 has been posted.  This report quantifies the number of foreclosure prevention actions taken by Fannie Mae & Freddie Mac, the Enterprises, year-to-date and cumulative since the beginning of the conservatorships in September 2008. Issued by FHFA 5/14/2020 Foreclosure Prevention, Refinance and FPM Report – February 2020

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April New Home Purchase Mortgage Applications Decreased 12 Percent

WASHINGTON, D.C. (May 14, 2020) — The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for April 2020 shows mortgage applications for new home purchases decreased 12 percent compared from a year ago. Compared to March 2020, applications decreased by 25 percent. This change does not include any adjustment for typical seasonal patterns. “New home purchase applications severely weakened in April, which coincided with the peak of the social distancing efforts and restrictions on non-essential activities to help slow the spread of COVID-19. During what’s typically…

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RESOURCES

New York Department of Financial Services

Guidance and Regulations relative to COVID-19


Guidance & List of Essential Services by ESD (Updated 6/29/2020)

Industry related Executive Orders issued by Governor Cuomo re: COVID-19

202.57 Moratorium on Commercial Tenant Evictions & Commercial foreclosures extended to September 20, 2020

Revised Procedure for Addressing Residential and Commercial
Eviction Proceedings

202.22  Real Property Tax Law related issues
202.18  Electronic meetings for non-profits; Condominiums in 1st year of operation; Extension of previous EOs to May 15, 2020
202.16  No Action/No Filing letters for affordable housing and homeless shelters
202.14  Increase in fines for non-compliance of social distancing directive
202.13  Certain construction is exempt from in-person; Modification of Section 576 of the Banking Law
202.12  Election & Health Issues
202.9  Mortgage Forbearance
202.8  Reduce in-person workforce to 100%; Limited Court actions
202.7  Reduce in-person workforce to 75%; Allow Electronic Notarization
202.6  Reduce in-person workforce to 50%; Essential Services identified by ESD
(updated 5/19/2020)
MBA’s COVID-19 Resource Page

MBA’s COVID-19 Resources for Consumers

2020 Convention Meeting the Challenge

MEETING THE CHALLENGE WITH 2020 VISION

New York MBA is holding a series of Webinars to engage members, share information and discuss the current lending environment. All members are invited to attend, and all employees of member companies are eligible to attend for free. Future members are able to attend one complimentary webinar session. Additional sessions can be accessed for a nominal fee. Future members can join New York MBA at any time by going to our membership page or by clicking here. New York MBA addresses all facets of the…

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