September 28, 2021

MP Now News

Mortgage News

FHA Releases Updated Webinar on COVID-19 Loss Mitigation Policies | Weiner Brodsky Kider PC

FHA recently announced that it provided a pre-recorded webinar in which the in Mortgage letter 2021-15 (ML 21-15), which WBK previously discussed here. In ML 21-15, the FHA extended the existing foreclosure and eviction moratoriums on all FHA-insured mortgages through July 31, 2021, with the exception of FHA-insured mortgages backed by vacant or abandoned properties. ML 21-15 also partially introduced a new policy on early modification of COVID-19 loans, which obliges mortgage loans to screen suitable borrowers for a permanent change in one or more terms of the borrower’s mortgage, which would reduce the borrower by at least 25% achieved monthly principal and interest payments that do not require borrower contact. Anyone wishing to take part in the webinar can register here.