Disaster planning

Mortgage companies in Florida are bracing themselves for the potential landfall of Hurricane Irma, which has followed close on the heels of Hurricane Harvey.

Ginnie Mae will help issuers with certain servicing obligations if more than 5% of their portfolios are in areas Hurricane Harvey has ravaged.

With Hurricane Harvey rapidly making its way toward the Texas coast, lenders and servicers have activated business continuity plans to accommodate pending transactions and provide options and support to existing borrowers affected by the storm.