MBA Joint Letter to FHA on HUD ML 2022-06
The Housing Policy Council (HPC)1 and the Mortgage Bankers Association (MBA)[1], on behalf of our member companies, and the National Community Stabilization Trust (NCST)[2] welcome the opportunity to offer comments on the Federal Housing Administration’s (FHA) Mortgagee Letter 2022-06, which established allowable claims payments for property preservation and protection (P&P) expenses. Both the servicing industry and policy advocates who monitor this sector appreciate the FHA’s engagement with stakeholders to define the property preservation and protection timeframe. Like FHA, we want clear, operationally feasible property disposition standards that ensure HUD’s lien interests are protected and limit the extent to which vacant or abandoned properties blight neighborhoods.