RHS issued a waiver (under the Single Family Housing Guaranteed Loan Program) allowing lenders and servicers to offer a loan modification interest rate that exceeds the original guaranteed note rate. Previously, a modified interest rate could not exceed the interest rate set forth in the original loan note guarantee. Effective immediately, servicers may now offer a modified interest rate that does not exceed the Freddie Mac Weekly Primary Mortgage Market Survey rate for a 30 year fixed rate mortgage (rounded to the nearest .125% plus 50 basis points). The waiver is in effect until rescinded.
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
