Posted To: MND NewsWire

The Federal Housing Administration (FHA) has issued several waivers to provisions in its Single-Family Housing Policy Handbook in acknowledgement of the financial impact on some of its borrowers from the COVID-19 pandemic. The provisions affected are those that would normally require in-person contact between borrowers and their mortgage services , including seniors who have Home Equity Conversion (HECM) reverse mortgages. The agency said the waivers allow important mortgage servicing activities to continue, but in a manner that allows for safe social distancing to help combat the pandemic. Two of the waivers are specific to HECMs . The first waives the $5,000 property charge payment arrearages cap on recalculated repayment plans. This will allow servicers to help more HECM borrowers who are…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Published On: February 4, 2021 / Categories: Mortgage News /

Subscribe To Receive The Latest News

Curabitur ac leo nunc. Vestibulum et mauris vel ante finibus maximus.

Thank you for your message. It has been sent.
There was an error trying to send your message. Please try again later.

Add notice about your Privacy Policy here.