Items Tagged with 'Hurricane Michael'


  • Fannie Mae reports income of $4B in third quarter

    Will pay Treasury $4 billion in third quarter of 2018
    Fannie Mae reported Friday it posted a comprehensive income of $4 billion in the third quarter of 2018, rising from $3 billion in the third quarter of last year. Notably, Fannie Mae provided $140 billion in liquidity to the mortgage market through financing and refinancing 726,000 homes and rental units.
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  • Servicing reverse mortgage loans in a hurricane's wake

    Celink urges lenders to learn more about servicing after a natural disaster
    Two weeks ago, Hurricane Michael decimated parts of the Florida panhandle, leaving thousands of homeowners – and reverse mortgage borrowers – left to deal with the destruction. Reverse mortgage loan servicer Celink urges lenders to connect their borrowers with their servicer to work through the repair process, and if you’re confused about what that is, "pick up the phone and call us!"
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  • Hurricane Michael threatens more than 200,000 multifamily units

    Displaced families in need of a temporary home could spike short-term demand
    New data from Yardi indicates that more than 200,000 multifamily units are at risk due to Hurricane Michael. Virginia Beach, Virginia, Wilmington, North Carolina, and Tallahassee, Florida, are the cities with the most multifamily units in harm’s way, according to the report. These cities hold 36,317, 33,423 and 32,277 at-risk units, respectively.
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  • Hurricane Michael may prevent thousands of mortgages from closing

    ClosingCorp: More than 1,600 pending transactions are in jeopardy
    An estimate by real estate data provider ClosingCorp reveals that more than 1,600 pending mortgage transactions are in jeopardy as a result of the devastating impact of Hurricane Michael. The Category Four storm may affect more than $400 million in loans as residents and lenders grapple with the damage left behind in Michael’s wake.
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  • Here's how many homes are currently threatened by Hurricane Michael

    The storm has an estimated reconstruction cost value of approximately $13.4 billion
    Hurricane Michael is expected to make landfall Wednesday, threatening 57,002 homes along the Florida Gulf Coast. An early analysis by CoreLogic indicates that the Category 3 storm has an estimated reconstruction cost value of approximately $13.4 billion.
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