October 19, 2021

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Mortgage News

FHA Extends Certain COVID-19 Flexibilities | Weiner Brodsky Kider PC

FHA recently announced that they are extending certain temporary COVID-19-related policies first announced in Mortgage Letter 2020-24, including those related to self-employment verification.

The Mortgage Letter 2021-16 extends the following previously published guidelines until September 30, 2021:

  • For Single Family Title II Forward Mortgage and HECM Program, the Business Review Guide for Self-employed Borrowers and Rental Income Review (for case numbers assigned on or before September 30, 2021); and
  • For the 203 (k) Rehabilitation Program, the 203 (k) Trust Management Guidelines for Borrowers in Deferment (until September 30, 2021 for open escrow accounts).

See previous WBK reporting on these guidelines Here and Here.