DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1529211
MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 60 November 2024 J O U R N A L HUD PROVIDES SUPPORT TO VICTIMS OF HURRICANE HELENE T he U.S. Department of Housing & Urban Development (HUD) has announced $3 million for the state of North Carolina to support people experiencing homelessness in communities impacted by Hurri- cane Helene. Funding from the Rapid Unsheltered Survivor Housing (RUSH) program will help residents and families who are experiencing or at risk of home- lessness and have needs that are not otherwise served or fully met by existing federal disaster relief programs. "While we are still assessing the full impact of Hurricane Helene in North Carolina, we know the breadth of de- struction warrants immediate funding to supplement emergency assistance for people at risk of or experiencing homelessness," Acting HUD Secretary Adrianne Todman said. "HUD is com- mitted to working with state and local leaders in North Carolina, during their long road of recovery ahead." While the Federal Emergency Management Agency (FEMA), the American Red Cross, and local commu- nity members have stepped up to assist survivors, the severity of the damage and displacement experienced in North Carolina has exceeded local capacity, and more assistance is needed. RUSH funding is intended to address the im- mediate unmet needs for homelessness assistance and homelessness prevention in declared disaster areas. The eligible activities for this fund- ing include: • For people experiencing homelessness before the disaster: emergency shelter; rapid re-housing, which provides up to 24 months of rental assistance, financial assistance for move-in costs, and supportive services; and • For people who were at risk of experiencing homelessness before the disaster: homelessness Government prevention, which provides up to 24 months of rental assistance, utility assistance, and supportive services for people at risk of homelessness; and outreach assistance, including assistance to meet urgent needs. To date, Hurricane Helene, the season's eighth named storm, saw an estimated 25,000 homes at risk of storm surge flooding, according to CoreLogic, with estimated wind and storm surge insured losses between $3-$5 billion. Overall, CoreLogic's updated Hurricane Helene industry-insured loss estimate stands at $10.5-$17.5 billion. RUSH funding provides rapid assis- tance under the Emergency Solutions Grant program for individuals and fami- lies who are experiencing homelessness or at risk of homelessness in eligible declared disaster areas where FEMA has activated Transitional Sheltering Assistance. This funding is available to help communities provide outreach, emergency shelter, rapid re-housing, homelessness prevention assistance, and supportive services. On July 1, HUD also launched a new streamlined process for requesting additional flexibility on existing grants after a disaster is declared. Recipients of annual HUD funding may request waivers to unlock and accelerate the use of their funding for disaster response and recovery. With the updated waiver process, HUD is proactively issuing maximum flexibility to communities impacted by disasters. These flexibili- ties will expedite the recovery process, reduce administrative burden, and allow impacted jurisdictions to quickly tailor programs and activities to address the post-disaster needs of impacted communities. "We have heard loud and clear—ev- ery day counts when states, localities, and nonprofits are working to get people safely housed," said Principal Deputy Assistant Secretary Marion Mc- Fadden for Community Planning and Development. "Our new waiver process will cut weeks off the time needed for communities to address urgent recovery needs in the wake of disasters."