The Best Markets For Residential Property Investors 2 days ago According to the Consumer Financial Protection Bureau (CFPB), federal financial institution regulatory agencies, in consultation with state financial regulators, issued a revised interagency statement encouraging financial institutions to work constructively with borrowers affected by COVID-19 and providing additional information regarding loan modifications. The revised statement also provides the agencies’ views on consumer protection considerations.The revised statement clarifies the interaction between the interagency statement issued on March 22, 2020, and the temporary relief provided by Section 4013 of the Coronavirus Aid, Relief, and Economic Security Act, which was signed into law on March 27, 2020. Section 4013 allows financial institutions to suspend the requirements to classify certain loan modifications as troubled debt restructurings (TDRs). The revised statement also provides supervisory interpretations on past due and nonaccrual regulatory reporting of loan modification programs and regulatory capital.The agencies encourage financial institutions to work with borrowers and will not criticize institutions for doing so in a safe-and-sound manner. The agencies view prudent loan modification programs offered to financial institution customers affected by COVID-19 as positive and proactive actions that can manage or mitigate adverse impacts on borrowers, and lead to improved loan performance and reduced credit risk.The agencies’ examiners will exercise judgment in reviewing loan modifications, including TDRs, and will not automatically adversely risk rate credits that are affected by COVID-19, including those considered TDRs. Regardless of whether modifications are considered TDRs or are adversely classified, agency examiners will not criticize prudent efforts to modify terms on existing loans for affected customers.For borrowers who may be facing foreclosure, the CFPB has released several resources to help consumers take steps to protect their finances during the COVID-19 pandemic, including a reminder to consumers to contact their lenders if they cannot make their payments. Many lenders are now providing forbearance loan extensions, a reduction in interest rates, and/or other flexibilities for repayment. The Federal Housing Finance Agency has authorized Fannie Mae and Freddie Mac to enter into additional dollar-roll transactions—provide mortgage-back securities investors with short-term financing. Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Title and Abstract Agency of America Promotes West Coast Florida Sales Manager Next: Analyzing California’s Response to Wildfire Insurance About Author: Seth Welborn Subscribe Home / Daily Dose / Federal Agencies Issue Statement on Loan Modifications CFPB Coronavirus 2020-04-08 Seth Welborn in Daily Dose, Featured, Government, News Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: CFPB Coronavirus April 8, 2020 1,975 Views The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Federal Agencies Issue Statement on Loan Modifications Data Provider Black Knight to Acquire Top of Mind 2 days ago
When the lights went out all over Georgia, many people learned how dependent they’d become on their stoves and microwaves. How do you fix your food without electricity? Here’s a list of easy foods to stock up on, Harrison said, for the next time the power fails: And while you’re at the store, she said, make sure you have the other things that make powerless cooking work, like plenty of starter sticks for the fireplace, a hand-operated can opener and fuel for the camp stove or grill. Canned meats. Ham, chicken and turkey are available. Look for them on the same grocery aisle as canned tuna in most stores. Packaged pasta mixes or rice mixes. You can even mix these with the canned meat or tuna to create a quick-to-fix “camping meal.” You can easily prepare it in your fireplace, camp stove or gas grill. Hard cheeses. Hard cheddar, Swiss, provolone or mozzarella can be kept even without refrigeration for several hours before they lose quality. And don’t forget the crackers. Canned soups or dehydrated soup mixes. Soup or water can easily be heated in the fireplace or on a camp stove. Fruits. Fresh, canned or dried, fruits are healthful and don’t have to be cooked. Vegetables. Fresh or canned veggies are nutritious and also require little or no cooking. Cereals. Cold cereals can make a meal or a great snack for the kids. And nothing is more soothing on a cold winter morning than a steaming bowl of oatmeal. Be sure to get instant, and just add hot water, straight off the fire or your camp stove. Peanut butter and jelly. Who doesn’t like peanut-butter-and-jelly sandwiches? And what could be easier to “cook”? “A one- or two-burner camping cook stove can come in very handy when the power goes out,” she said. “But you’ll have to go outside to use it.” How and What to Cook Harrison said many packaged food products work well, too. “A boxed macaroni-and-cheese mix cooks in 10 minutes,” she said, “and is great with the beans and wieners.” Easy Foods When Power’s Out Packaged Foods, Reminders “Don’t plan to cook a 12-pound turkey, even if it will fit in your fireplace,” she said. “When you head to the store, think simple. Think, ‘What can I cook in minutes over a roaring fire or outside in a blowing wind — and with the children ‘helping’?'” You certainly don’t have to go hungry, says a University of Georgia expert. You just have to be prepared. Even gas or charcoal grills can be handy in a pinch. The key, Harrison said, is to be smart when you buy the food you’ll have to prepare. “You can cook in the fireplace if you need to,” said Judy Harrison, an Extension Service nutritionist and food safety specialist with the UGA College of Family and Consumer Sciences.