HUD ML 2012-22 Revisions to FHA Loss Mitigation Options

Investor Update: On November 16, the U.S. Department of Housing and Urban Development published Mortgagee Letter 2012-22, which includes revised requirements for FHA's Loss Mitigation Home Retention Options.  The letter is an effort to reduce the number of full claims against the FHA Mutual Mortgage Insurance Fund by assisting a greater number of qualified, distressed mortgagors in retaining their homes.

Effective Date:  No later than 90 days after issuance of this Mortgagee Letter, mortgagees must begin to assess mortgagors in default under FHA’s loss mitigation priority order and policies referenced herein.

Affected Policy This Mortgagee Letter amends the following:

  • FHA’s Home Affordable Modification Program’s (FHA-HAMP) guidelines in Mortgagee Letter 2009-23;
  • The definition of “Special Forbearance” in Mortgagee Letter 2002-17; and
  • Loss Mitigation priority order guidelines in Mortgagee Letter 2000-05.

Click here to view the full Mortgagee Letter.

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees  and a handful of contractors performing services in the Midwest, to a national company with more than 1,600 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.


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