Tag Archives: FHAs

FHA unveils 40-year loan modification option FHA’s COVID-19 loss mitigation options may soon include a 40-year loan modification option

The Federal Housing Administration (FHA) is moving to expand its COVID-19 loss mitigation “waterfall” by introducing a 40-year loan modification option and is asking the mortgage industry for input. The proposed rule, published by the Department of Housing and Urban Development late last week, would change repayment provisions for FHA borrowers, allowing lenders to recast a borrower’s total unpaid loan […]