Covid Bulletin for Homeowners
In response to the pandemic caused by the coronavirus disease of 2019 (COVID-19), Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which requires FHA mortgage servicers to offer mortgage forbearance as an option to homeowners who are facing financial hardship due to COVID-19.
HUD OIG reviewed the information that the top 30 FHA mortgage servicers are providing to borrowers on their websites. These entities service over 90% of FHA-insured mortgages. We found the information on several websites regarding forbearance options under the CARES Act was incomplete, inconsistent, dated, and unclear. HUD OIG has provided a memo to the Office of Single Family Housing outlining our findings.
A copy of that memo is here: https://www.hudoig.gov/sites/default/files/2020-04/Single%20Family%20Mortgage%20Forbearance%20Brief.pdf
COVID-19 BULLETIN OR HOMEOWNERS