General World News

FHA Introduces Simplified COVID-19 Recovery “Waterfall”

As was alluded to in June, the FHA late last week published a fully revised version of their “waterfall” loss mitigation options for borrowers coming to the end of their forbearance period.

In order to streamline the process, the administration is scrapping their old waterfall framework and is instead providing two options for servicers processing borrowers coming out of forbearance: a COVID-19 recovery standalone partial claim for borrower who can resume making payments on their mortgage, and a COVID-19 recovery modification option for borrowers who can’t.

According to the administration, these steps have been taken in order “to support a sustained and details ⇒

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