HUD: FHA INFO #21-66: Waivers for COVID-19 Recovery Options
August 5, 2021
Source: HUD (FHA INFO #21-66 PDF)
In this Announcement:
• FHA Announces Waivers to the Review Requirements for Its COVID-19 Advance Loan Modification and COVID-19 Recovery Options
• Reminder of Upcoming COVID-19 Recovery Options Industry Webinar
See below for details.
Today, the Federal Housing Administration (FHA) issued the following partial waivers to its policies pertaining to COVID-19 Advance Loan Modification (COVID-19 ALM) and COVID-19 Recovery Loss Mitigation Options (COVID-19 Recovery Options):
These waivers address the mortgagee’s timeframes and borrower eligibility for a required review or re-review for the COVID-19 ALM and the COVID-19 Recovery Options.
Mortgagees are encouraged to thoroughly review the two waivers that posted today as well as the COVID-19 ALM and COVID-19 Recovery Options policies outlined in ML 2021-15 and ML 2021-18, respectively.
To view full announcement, please click the source link above.