Amidst record-level interest rates, on February 21, 2024, the Federal Housing Administration (FHA) announced a new loss mitigation option, the Payment Supplement, to aid struggling borrowers. The Payment Supplement will bring...more
On November 16, 2023, in response to comments received on a prior draft Mortgagee Letter (ML) related to a Proposed Payment Supplement Partial Claim, the Federal Housing Administration (FHA) published another draft ML titled...more
The Federal Housing Administration recently issued Mortgagee Letter 2022-23, establishing a new COVID-19 Home Equity Conversion Mortgage Property Charge Repayment Plan. The COVID-19 HECM Property Charge Repayment Plan would...more
3/10/2023
/ Borrowers ,
Coronavirus/COVID-19 ,
Fair Housing Act (FHA) ,
HECM ,
Home Equity ,
Homeowners ,
Lenders ,
Loan Repayment Issues ,
Loans ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Repayment Options
On December 15, 2022, the Federal Housing Administration (FHA) issued Mortgagee Letter 2022-23, establishing the COVID-19 Home Equity Conversion Mortgage (HECM) Property Charge Repayment Plan.
The COVID-19 HECM Property...more
On December 19, 2022, the Federal Housing Administration (FHA) issued an additional extension of the temporary waiver of face-to-face contact required under 24 CFR ยง 203.604 Contact with the Mortgagor, under Mortgagee Actions...more