HUD Announces Additional Homeowner Relief Measures

first_imgHome / Daily Dose / HUD Announces Additional Homeowner Relief Measures Share 1Save HUD Announces Additional Homeowner Relief Measures April 2, 2020 3,204 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Tagged with: Coronavirus HUD Mortgage Forbearance Previous: DS5: How Law Firms Are Assisting With Loss Mitigation Next: Increase in Jobless Claims Leading to ‘Unknown Territory’ Sign up for DS News Daily About Author: Mike Albanese The U.S. Department of Housing and Urban Development (HUD) announced a tailored set of mortgage relief options for homeowners with FHA-insured mortgages who have been impacted by COVID-19. HUD states, effective immediately for those who cannot make mortgage payments due to the virus, servicers must extend deferred or reduced mortgage payment options for up to six and also provide an additional six months of forbearance if requested by the borrower. This measure implements provisions contained in the CAREs Act signed by President Donald Trump on March 27. “The last thing any of us wants is for Americans to lose their homes unnecessarily while we continue to fight this invisible enemy. If you’re struggling, immediate help is now available. The FHA will continue to work with stakeholders to ensure that the loss mitigation options that are offered for both forward and reverse borrowers are appropriately tailored for the present situation,” said Dr. Benjamin Carson, Secretary of HUD. Additionally, the FHA implemented the COVID-19 National Emergency Partial Claim, an option to be used by servicers when the COVID-19 forbearance period ends. This will help eligible homeowners who have been granted forbearance to reinstate their loans by authorizing servicers to advance funds on behalf of homeowners. This claim will defer the repayment of those advances through an interest-free “subordinate mortgage” that the borrower does not have to pay until their first mortgage is paid off. “For American families impacted by the COVID-19 virus and unable to pay their FHA-insured mortgage, imminently losing their homes is now one less fear they should have,” said Assistant Secretary for Housing and Federal Housing Commissioner Brian Montgomery. “Today’s actions will ease the immediate pressures faced by many Americans who, through no fault of their own, are struggling with financial uncertainty.” A recent study by the Harvard Joint Center for Housing Studies (JCHS) found that 13 million Americans are at risk of losing their jobs due to the virus. “The loss of service jobs would undoubtedly worsen affordability for households who already must spend an outsized portion of their incomes on rent each month,” Whitney Airgood-Obrycki, Research Associate, JCHS said.Forty percent of households (5.2 million) whose wages came exclusively from at-risk jobs were cost-burdened as compared to 22% of households (13.1 million) whose income came only from other jobs. Subscribe Demand Propels Home Prices Upward 2 days ago 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Coronavirus HUD Mortgage Forbearance 2020-04-02 Mike Albanese Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

National Life Group names Mehran Assadi as next CEO

first_imgMehran Assadi has been designated the next president and chief executive officer of National Life Group (NLGroup), the company’s Board of Directors announced on Tuesday.Assadi, currently president of NLGroup’s life and annuity division, will succeed Thomas H. MacLeay, who is retiring Dec. 31 as president and CEO. MacLeay will remain as Chairman of the Board.David Coates, the lead independent director on the board and chairman of the search committee, said Assadi has been instrumental in developing and executing a strategy of success for the life and annuity division.”Mehran is a proven leader,” said Coates. “He brings energy, enthusiasm and optimism to every assignment he is given. We believe Mehran is the best person to build on Tom’s tremendous record of accomplishment.”National Life Group, a Fortune 1000 company with combined 2007 revenues of $1.4 billion, serves the financial needs of more than 700,000 customers. NLGroup includes its flagship company, National Life Insurance Company, founded in Montpelier in 1848; Life Insurance Company of the Southwest in Dallas, Texas, and Sentinel Investments, Equity Services, Inc. and National Retirement Plan Advisors, all based in Montpelier.Assadi, 50, joined NLGroup in 2003 and was named president of the life and annuity division two years later. He oversees the life and annuity profit centers, which include sales and distribution as well as product development, new business, marketing, underwriting and customer service.”Mehran understands what makes National Life special: our history, our heritage, our mutual structure, our focus on the individual and our unwavering commitment to deliver on the promises we make,” said MacLeay. “Mehran also appreciates what we need to do to remain strong and competitive in tomorrow’s marketplace.”Assadi said that being named chief executive officer is an honor. “National Life is more than a company,” he said. “It is a jewel.””I feel privileged to be asked to lead National Life Group, especially as we mark the 160th anniversary of the founding of National Life Insurance Company,” he said.Assadi will only be the 16th person to serve as chief executive in the 160 years since National Life Insurance Co. was chartered. MacLeay has served as president for 11 years and as CEO and chairman for six years.Prior to joining National Life Group, Assadi served as executive vice president, chief marketing officer and chief information officer at Provident Mutual in Newark, Delaware. Previously he served for 16 years in various senior positions with United States Fidelity and Guaranty of Baltimore.A graduate of Towson University, Assadi has a Master’s in Management Information Systems from the University of Baltimore.Assadi and his wife Janet have three sons, Anthony, Jordan, and Ryan.last_img read more

The worst baseball card ever made lives within ‘Project 2020’ Topps set

first_img Project 2020 Card #54 reference, here’s the iconic card it’s based on: There have been all sorts of baseball card mishaps over the past 100 years, from misspelled names to pictures of the wrong player. None are as bad as one of the cards Topps is putting out this year as part of its “Project 2020” set.The idea of the set is simple: Have famous artists recreate historic cards with their own spin. Among the entries are Derek Jeter’s 1992 draft pick card, Mark McGwire’s 1987 card and George Brett’s 1975 card. (eBay) (eBay) Then there’s the rendering of Bob Gibson’s 1959 rookie card by artist Keith Shore at No. 54 in the collection. It’s an absurd perspective of Gibson that looks like it was hurriedly put together in Microsoft Paint. The exaggerated depiction of Gibson’s lips — a historically problematic caricature of black people in the U.S.— seems especially off. The lips (and eyebrows) are made to be the central focus of the work in a way that doesn’t line up at all with the original photo. For reference, his other contributions to the series — namely his interpretation of McGwire and Don Mattingly — aren’t as bad and done in a slightly different manner (perhaps aided by the original photo perspective). It’s hard to believe his Gibson is not a practical joke at first glance.Take a look at the worst baseball card of all time: If the new era of seminal artwork truly looks like an elementary school digital masterpiece, then baseball cards in the coming decades are going to be wild.Shore, to his credit, has a defining style of art he’s known for that he wasn’t going to deviate from for this project. This was perhaps just a poor match between an approach that works well in other mediums and a traditionalist canvas such as a baseball card.Baseball card mishaps of the past have actually inflated value, and it’s possible the same happens here should collectors genuinely deem the Bob Gibson recreation the worst card of all time. Or it’s something some people find cool precisely because it’s so different. Right now, it’s selling on eBay for more than $80. Original 1959 Bob Gibson card How an abridged 2020 MLB season would workOn the back of the card, a description of “Project 2020” bills the series as Topps “ushering in a new era of seminal artwork.”last_img read more