FHA Releases Updated Webinar on COVID-19 Loss Mitigation Policies

FHA recently announced that it made available a pre-recorded webinar that further breaks down its policies described in Mortgagee Letter 2021-15 (ML 21-15), which WBK previously covered here.  In ML 21-15, FHA extended the existing foreclosure and eviction moratoria for all FHA-insured mortgages to July 31, 2021, with the exception of FHA-insured mortgages secured by vacant or abandoned properties.  ML 21-15, in part, also established a new COVID-19 Advance Loan Modification policy, requiring mortgagees to review eligible borrowers for a permanent change in one or more terms of the borrower’s mortgage that achieves at least a 25% reduction to the borrower’s monthly principal and interest payment that does not require borrower contact.  Those interested in accessing the webinar can sign up here.