FHA extended the temporary partial waivers issued for Mortgagee Letter 2015-11 and Mortgagee Letter 2016-07. The temporary partial waiver for Mortgagee Letter 2015-11 allows mortgagees to offer repayment plans to HECM borrowers with unpaid property charges regardless of the total outstanding arrearage. The temporary partial waiver for Mortgagee Letter 2016-07 permits mortgagees to seek assignment of a HECM immediately after using the mortgagee’s own funds to pay unpaid property taxes and insurance on or after March 1, 2020 (by temporarily eliminating the 3-year waiting period for these assignments). The temporary partial waivers have been extended through December 31, 2022.
Click to view the FHA Info #2022-64: https://www.tenaco.com/wp-content/uploads/2022/06/FHA-Info-2022-64-06-23-22.pdf
Click to view the FHA Mortgage Letter 2015-11: https://www.tenaco.com/wp-content/uploads/2022/06/FHA-ML-2015-11.pdf
Click to view the FHA Mortgage Letter 2016-07: https://www.tenaco.com/wp-content/uploads/2022/06/FHA-ML-2016-07.pdf
Click to view the Temporary Waiver of Mortgage Letter 2015-11: https://www.tenaco.com/wp-content/uploads/2022/06/Temporary-Waiver-of-ML-2015-11-06-23-22.pdf
Click to view the Temporary Waiver of Mortgage Letter 2016-07: https://www.tenaco.com/wp-content/uploads/2022/06/Temporary-Waiver-of-ML-2016-07-06-23-22.pdf
