RHS issued a SFH Guaranteed Servicing Notice (Notice) announcing amendments to chapters 17, 18, and 19 of the SFH Guaranteed Loan Program Technical Handbook (HB-1-3555). Chapter 17 pertains to regular servicing (for performing loans), chapter 18 pertains to servicing non-performing loans (accounts with repayment problems), and chapter 19 pertains to loss claims (collecting on the guarantee). The chapters were amended to implement the changes adopted in a recent final rule amending the special servicing options for non-performing loans and adjusting the Mortgage Recovery Advance process. The amendments to chapters 17, 18, and 19 are effective February 11, 2025 (in conjunction with the final rule).
Click to view the RHS SFH Guaranteed Servicing Notice: https://www.tenaco.com/wp-content/uploads/2024/08/RHS-SFH-Guaranteed-Servicing-Notice-08-21-24.pdf
