crfs shares details on HUD updates effective today

As you may know, the HUD Single-Family Housing Policy Handbook 4000.1 had updates that went into effect today, March 31st.  The changes applied to Section III – Servicing and Loss Mitigation,  Appendix 4.0 – FHA-Home Affordable Modification Program (FHA-HAMP) Calculations, and Appendix 5.0 – HUD Schedule of Standard Possessory Action and Deed-In-Lieu of Foreclosure Attorney Fees.  Note also that these updates were impacted by HUD ML 2022-06, which was released on March 29th.

CRFS worked with its clients to successfully implement the many policy updates that included but were not limited to:

  • First time Vacancy Requirements
  • Initial Vacant Property Inspections
  • Terminating Foreclosure Proceedings for Loss Mitigation
  • Expense Curtailment
  • Reasonable Diligence Definition
  • FHA HAMP Claim Incentive Validation and Non-Incentivized Modification Reporting
  • PFS Compliance and BPO Review

Contact us today if you’d like assistance navigating these changes to ensure your servicing operation stays in compliance and you’re maximizing your claim recoveries.  Visit here to view this and other HUD updates in their entirety: