FHA issued Mortgagee Letter 2022-02, clarifying the extension of the deadlines for the first legal action and reasonable diligence time frame announced in Mortgagee Letter 2021-15. Per the Mortgagee Letter, FHA clarified that the first legal deadline and reasonable diligence time frame are extended by 180 days from the later of:
- The expiration of the foreclosure moratorium for FHA-insured Single Family Mortgages; or
- The expiration of the borrower’s COVID-19 forbearance or the Home Equity Conversion Mortgage (HECM) COVID-19 extension period.
Mortgagee Letter 2021-15 stated that the first legal deadline and reasonable diligence time frame was extended to 180 days from the date of the expiration of the foreclosure moratorium. Mortgagee Letter 2022-02 is effective immediately.
Click to view the FHA Mortgagee Letter 2022-02: https://www.tenaco.com/wp-content/uploads/2022/02/FHA-Mortgagee-Letter-2022-02-02-07-22.pdf
