MBA Feedback to FHA on Loss Mitigation Letter (2023-03)
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The Mortgage Bankers Association (MBA)1 welcomes the Federal Housing Administration’s (FHA) recently published Mortgagee Letter (ML) 2023-03, Expansion of the COVID-19 Recovery Loss Mitigation Options. Upon further review, we request that FHA publish an updated mortgagee letter clarifying and adjusting the new policy before mortgage servicers are required to comply with FHA’s new standards. Ensuring mortgage servicers have the clarity to adjust their operations is essential to maintaining a consistent borrower experience as the industry has pursued over the past two-years.
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