{"id":"FED-365","kind":"order","level":"federal","jurisdiction":"United States (FHA-insured single-family mortgages)","state":"","metro":"","industry":"","agency":"","eco":"","issuer":"HUD, Federal Housing Administration","authority":"12 U.S.C. §§ 1709, 1715b, 1715u","instrument":"Mortgagee Letter 2021-18","title":"COVID-19 Recovery Loss Mitigation Options","dateIssued":"2021-07-23","effective":"2021-07-23 (servicers to implement within 90 days)","end":"superseded by later loss-mitigation letters (2022-2023)","startDate":"2021-07-23","endDate":"2021-09-30","quarters":["2021Q3"],"types":["OTHER"],"addressees":["FHA mortgagees and servicers"],"clause":"[HUD establishes the COVID-19 Recovery Loss Mitigation Options (COVID-19 Advance Loan Modification, COVID-19 Recovery Standalone Partial Claim, COVID-19 Recovery Modification) for borrowers exiting COVID-19 forbearance, and requires servicers to review borrowers for them before any foreclosure referral.] This does not impact previously announced effective dates for the COVID-19 [Forbearance]... [with waiver of late charges, fees and] penalties, if any, accumulated prior to March 1, 2020.","enforcement":"FHA program requirements","functions":["SV mandatory loss-mitigation review before foreclosure (Q3 2021)"],"notes":"With the CFPB rule of Aug. 31, 2021 (Ex. FED-344), the federal servicing regime that governed FHA servicers for the rest of 2021 Q3 after the foreclosure moratorium ended July 31.","sourceUrl":"https://www.hud.gov/sites/dfiles/OCHCO/documents/2021-18hsgml.pdf","snapshot":"","fileExists":true,"fileBytes":320637,"grade":"primary","character":"","description":"","collection":"FED-B","url":"/library/FED-365","exhibitUrl":"/exhibit/FED-365","citation":"HUD, Federal Housing Administration, Mortgagee Letter 2021-18 (July 23, 2021) (Ex. FED-365)","stateName":"","related":["FED-344","FED-364"]}