The Federal Housing Administration (FHA) this week published a newly proposed Mortgagee Letter on its Single Family Drafting Table, which would align mortgage borrowers and originators in their understanding of how much is owed on a partial claim.

Partial claims are designed to offer assistance to mortgage borrowers who have fallen behind on their monthly payments, allowing them to become current without impacting the terms of their original loan. FHA pays a portion of the past-due amount as a foreclosure–mitigation measure, and the amount details ⇒

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