FHA Extends Foreclosure Moratoriums and other COVID-19 Related Policies

FHA recently extended several temporary provisions and policy waivers to help mitigate the impacts of the COVID-19 pandemic on FHA-insured borrowers.  These extensions include, among other items:

• the extension of the foreclosure and eviction moratorium on foreclosures of properties secured by FHA-insured single-family mortgage loans (except for vacant or abandoned properties) through February 28, 2021;
• the extension of the approval date for initial COVID-19 related forbearance requests or Home Equity Conversion Mortgage extension through February 28, 2021;
• the extension of the temporary provisions for endorsement processes for mortgages in which a borrower has been granted a COVID-19 related forbearance through March 31, 2021; and
• the extension of the exterior-only appraisal inspection first described in Mortgagee Letter 2020-37 through February 28, 2021.

For more information, see WBK’s prior articles on the foreclosure and eviction moratorium, approval date for initial forbearance requests, and loan endorsements under COVID-19 forbearance.