Federal Home Loans, Foreclosures and COVID-19

What Federal Lenders are Doing Regarding Foreclosures During the COVID-19 Crisis
As of 3/20/20: NOTE THE FOLLOWING ARE ALL FEDERAL LOAN PROGRAMS:
Attached is a list of what the different lenders are doing in regard to foreclosures:
FHA Insured Single-Family Mortgages and Home Equity Conversion Mortgages:

• HUD Mortgagee Letter 2020-04   www.hud.gov/sites/dfiles/OCHCO/documents/20-04hsgml.pdf
• Fannie Mae Lender Letter 2020-02   singlefamily.fanniemae.com/media/22261/display
• Freddie Mac Bulletin 2020-4 guide.  freddiemac.com/app/guide/bulletin/2020-4
• USDA encourages SFHGLP loan servicers to extend forbearance alternatives to borrowers whose health or employment has been impacted as a result of COVID-19.
• USDA Rural Development requires that holders suspend all foreclosure activity until April 30, 2020. The foreclosure suspension applies to the initiation of new foreclosure actions and to foreclosure actions already in process.
• VA strongly encourages loan holders to establish a sixty-day moratorium beginning March 18, 2020, on completing pending foreclosures or initiating new foreclosures on loans.

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