July 31, 2021

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Mortgage News

Temporary Guidance for the Endorsement for FHA Insurance of Mortgages Under COVID-19 Forbearance Expires | Weiner Brodsky Kider PC

FHA recently launched one memory the expiration of HUD’s Temporary Guidelines for the Approval of Mortgages under the CARES Act Forbearance, which expired effective March 31, 2021. The Temporary Guidelines, which originally came into effect June 15, 2020, had generally allowed mortgages to submit mortgage loans (excluding non-FHA-to-FHA disbursement refinances) for confirmation of FHA insurance where the Loans were under COVID-19-related leniency under the CARES Act. The WBK dealt with the publication of the preliminary guidelines Hereand an earlier extension of the guidelines Here. The FHA anticipates that the expiry of the guidelines will have minimal industry impact due to their limited use in the nine months that it was in effect.