HUD: FHA INFO #20-18: Loss Mitigation Home Retention Options for Assisting Borrowers
March 9, 2020
HUD FHA INFO #20-16 (Coronavirus Information Available)
The Federal Housing Administration (FHA) is reminding mortgagees of FHA’s loss mitigation program options, particularly in light of the recent reports on the Coronavirus (COVID-19).
As with any other event that negatively impacts a borrower’s ability to pay their monthly mortgage payment, FHA’s suite of loss mitigation options provides solutions that mortgagees should offer to distressed borrowers – including those that could be impacted by the Coronavirus – to help prevent them from going into foreclosure. These home retention options are located in FHA’s Single Family Housing Policy Handbook 4000.1 Section III.A.2.
Stakeholders are reminded to ensure that their responses remain faithful to obligations under the Constitution, Fair Housing Act, and related regulations. Exigencies associated with important and timely response to issues surrounding COVID-19 are not the basis for unlawful discrimination based on race, color, religion, national origin, sex, disability, or familial status.
• Get up-to-date information on the Coronavirus from the Centers for Disease Control and Prevention’s Coronavirus web site at: https://www.cdc.gov/coronavirus/2019-ncov/summary.html
• Access the SF Handbook in online or portable document format from HUD’s Client Information Policy Systems (HUDCLIPS) Housing Handbooks web page at: https://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/handbooks/hsgh
Contact the FHA Resource Center:
• Visit our online knowledge base to obtain answers to frequently asked questions 24/7 at: www.hud.gov/answers.
• E-mail the FHA Resource Center at: firstname.lastname@example.org. Emails and phone messages will be responded to during normal hours of operation, 8:00 AM to 8:00 PM (Eastern), Monday through Friday on all non-Federal holidays.
• Call 1-800-CALLFHA (1-800-225-5342). Persons with hearing or speech impairments may reach this number by calling the Federal Relay Service at 1-800-877-8339.