WBK Industry News - Federal Regulatory Developments

FHA Republishes Expansion of COVID-19 Recovery Loss Mitigation Options Mortgagee Letter

HUD Mortgagee Letter (ML) 2023-03 fully supersedes ML 2023-02.  ML 2023-03 allows mortgagees to implement the COVID-19 recovery loss mitigation options previously outlined by the FHA as of January 30, 2023. Other changes made by ML 2023-03 were technical and for clarification.  We previously reported on the requirements of ML 2023-02 in the February 9, 2023 edition of our newsletter.