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HUD Letter

Foreclosure and Eviction Moratorium in connection with the Presidentially Declared COVID-19 National Emergency

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688 views2 pages

HUD Letter

Foreclosure and Eviction Moratorium in connection with the Presidentially Declared COVID-19 National Emergency

Uploaded by

Erin Laviola
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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U.S.

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT


WASHINGTON, DC 20410-8000

ASSISTANT SECRETARY FOR HOUSING –


FEDERAL HOUSING COMMISSIONER

Date: March 18, 2020

Mortgagee Letter 2020-04

To: All FHA Approved Mortgagees


All Direct Endorsement Underwriters
All FHA Roster Appraisers
All FHA Roster Inspectors
All FHA Approved 203(k) Consultants
All HUD Approved Housing Counselors
All HUD Approved Nonprofit Organizations
All Governmental Entity Participants
All Real Estate Brokers
All Closing Agents

Subject Foreclosure and Eviction Moratorium in connection with the Presidentially-


Declared COVID-19 National Emergency

Purpose The purpose of this Mortgagee Letter (ML) is to inform mortgagees of a


foreclosure and eviction moratorium for all FHA-insured Single Family
mortgages for a period of 60 days.

Effective Date This Mortgagee Letter is effective immediately upon issuance.

Public HUD welcomes feedback from interested parties for a period of 30 calendar
Feedback days from the date of issuance. To provide feedback on this policy document,
please send feedback to the FHA Resource Center at [email protected].
HUD will consider the feedback in determining the need for future updates.

Affected This guidance applies to all FHA Title II Single Family forward and Home
Programs Equity Conversion Mortgage (reverse) mortgage programs.

Background The President of the United States proclaimed that the COVID-19 outbreak in
the United States constitutes a national emergency as of March 1, 2020. As a
result of this unprecedented global pandemic, many jurisdictions have
reduced services, businesses have closed, and other activities have been

www.hud.gov espanol.hud.gov
Mortgagee Letter 2020-04, Continued
curtailed. In addition, this pandemic impedes the ability of Americans to
work and provide for their families. This directly impacts the financial well-
being of individuals, families, and businesses. Therefore, as part of a broader
federal government effort, the Secretary of HUD is authorizing a moratorium
on foreclosures. Furthermore, Americans have been asked to remain in their
homes to stem the tide of COVID-19. To ensure families are not displaced
during this critical period, the Secretary of HUD is also authorizing a
moratorium on evictions for FHA-insured properties.

Moratorium on Properties secured by FHA-insured Single Family mortgages are subject to a


Foreclosures moratorium on foreclosure for a period of 60 days. The moratorium applies
and Evictions to the initiation of foreclosures and to the completion of foreclosures in
and Extension process.
of Deadlines
Similarly, evictions of persons from properties secured by FHA-insured
Single Family mortgages are also suspended for a period of 60 days.

In addition, deadlines of the first legal action and reasonable diligence


timelines are extended by 60 days.

Paperwork The information collection requirements contained in this document have


Reduction Act been approved by the Office of Management and Budget (OMB) under the
Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520) and assigned OMB
Control Numbers 2502-0429, 2502-0583 and 2502-0584. In accordance with
the Paperwork Reduction Act, HUD may not conduct or sponsor, and a
person is not required to respond to, a collection of information unless the
collection displays a currently valid OMB Control Number.

Questions Any questions regarding this Mortgagee Letter may be directed to the FHA
Resource Center at 1-800-Call-FHA. Persons with hearing or speech
impairments may reach this number by calling the Federal Relay Service at 1-
800-877-8339. For additional information on this Mortgagee Letter, please
visit www.hud.gov/answers.

Signature

Brian D. Montgomery
Assistant Secretary for Housing –
Federal Housing Commissioner

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