Federal Housing Administration (FHA)
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Posted March 20th, 2020
FHA Suspends Foreclosures and Evictions Amid COVID-19 National Emergency
The Federal Housing Administration (FHA) published Mortgagee Letter 2020-04, ÔÇťForeclosure and Eviction Moratorium in Connection with the Presidentially-Declared COVID-19 National Emergency,ÔÇŁ which announces an immediate foreclosure and eviction moratorium for all FHA-insured single family mortgages for a 60-day period.
The Secretary of HUD authorized these moratoriums as a result of the national emergency declared by the President of the United States. They are part of a broader federal government effort to address impacts to the financial well-being of individuals, families, and businesses, and to ensure families are not displaced during this critical period.
FHA suspends requirement for lenders to send paper case binders to HUD when binders are requested for post-endorsement review in the LRS System
Effective immediately and until further notice, FHA-approved lenders should not send paper case binders to HUD when binders are requested for post-endorsement review in the Loan Review System. Lenders that are approved to submit electronic case binders (eCBs) should continue to respond to binder requests by sending eCBs to HUD's secure site.