FHA issued Mortgagee Letter 2022-06, updating policy regarding reimbursement for property preservation and protection cost claims. Per the Mortgagee Letter, HUD will only reimburse mortgagees for reasonable payments for property preservation and protection costs incurred in connection with Claims without Conveyance of Title (CWCOT) and Conveyance claims. The Mortgagee Letter must be implemented for all FHA-insured mortgages where the deadline to complete the first legal action is on or after March 31, 2022.
Click to view the FHA Mortgagee Letter 2022-06: https://www.tenaco.com/wp-content/uploads/2022/03/FHA-Mortgagee-Letter-2022-06-03-29-22.pdf
Click to view the FHA Info 2022-32: https://www.tenaco.com/wp-content/uploads/2022/03/FHA-Info-2022-32-03-29-22.pdf
