Month: August 2020

The FHA, USDA, VA and FHFA have all recently announced plans to officially extend their foreclosure moratorium programs through December 31st, 2020.  These actions will benefit millions of at-risk homeowners with mortgages insured or backed by these institutions.  Below are links to their respective websites and communications where you can get full details… FHA https://www.hud.gov/… Read more »

Mortgagee Letter 2020-22 released in July introduced a full suite of COVID-19 Loss Mitigation options available to borrowers who are affected by the COVID-19 Presidentially Declared National Emergency. These options expand upon the COVID-19 Forbearance and COVID-19 Standalone Partial claim introduced in ML 2020-06. For additional details, visit the HUD website – https://www.hud.gov/sites/dfiles/OCHCO/documents/20-22hsgml.pdf This mortgagee… Read more »

Enhancements to FHA’s Claims Without Conveyance of Title (CWCOT) Procedures The provisions of Mortgagee Letter 2020-21 may be used immediately, but must be used for all foreclosure sales associated with defaulted mortgages scheduled to occur on or after 90 days from the date of the ML (July 7, 2020). For additional details, visit the HUD… Read more »