The Federal Housing Administration (FHA) announced on Monday changes to its loss mitigation options for borrowers struggling to pay their mortgages. 

The announcement follows the Biden administration’s decision to set an end date for the COVID-19 pandemic national emergency declaration. 

Meanwhile, the FHA-Home Affordable Modification (FHA-HAMP) options were temporarily suspended to simplify loss mitigation options, according to the FHA.

The main change is that servicers will have to offer Covid-19 loss mitigation options to all FHA’s eligible borrowers who fall behind on their mortgage payments, regardless of their hardship reason. 

The toolkit will be available 18 months past the mandatory details ⇒

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