FHA issued Mortgagee Letter 2017-06, updating the servicing section of the Single Family Housing Policy Handbook with respect to Property Assessed Clean Energy (PACE) obligations. The updates include revisions to escrow, appraisal and property conveyance requirements. The topics affected by the Mortgagee Letter include: application of payments; escrowing of funds; pre-foreclosure sales; deed-in-lieu of foreclosure; claims without conveyance of title; foreclosure; conveyance of acquired properties; and loan assumptions. The updates went into effect January 19, 2017.
FHA
FHA Waives Early Payment Default Review Requirements for Properties Impacted by California Wildfires
FHA issued a waiver regarding early payment default review requirements for properties impacted by the California wildfires. FHA currently requires lenders to select all early
April 2, 2025
