General World News

HUD extends waivers for FHA reverse mortgages

In a bid to aid borrowers, the Department of Housing and Urban Development announced on Wednesday a series of temporary waivers that will allow servicers to use alternative methods when servicing FHA-insured forward and reverse mortgages.

Rather than conducting face-to-face interviews, HUD’s waiver will allow substitute methods for servicers to conduct borrower interviews for FHA-insured forward and reverse mortgages when performing early default interventions, specifically for borrowers in danger of foreclosure.

Alternative methods HUD listed included phone interviews, video calling services and other conference technology.

HUD also said it is waiving the $5,000 property charge payment arrearages cap details ⇒

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