|
HUD ML 2007-04 Extension of Special Authority for Use of Partial Claims and Loan Modifications |
|
Friday, 23 March 2007 |
HUD has determined that the loss mitigation tools set forth in HUD ML 2005-46 are still needed to assist homeowners affected by the trio of hurricanes of 2005 and is extending authority to use these special assistance measures for eligible borrowers through August 31, 2007.
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
WASHINGTON, DC 20410-8000
ASSISTANT SECRETARY FOR HOUSING-
FEDERAL HOUSING COMMISSIONER
March 22, 2007
MORTGAGEE LETTER 2007-04
TO: ALL APPROVED MORTGAGEES
ATTENTION: Single Family Servicing Managers
SUBJECT: Extension of Special Authority for Use of Partial Claims and Loan
Modifications to Assist Victims of Hurricanes Katrina, Rita and Wilma in
Presidentially-Declared Major Disaster Areas in Alabama, Florida,
Louisiana, Mississippi and Texas
The FHA Mortgage Assistance Initiative and temporary special loan modification
authorities announced in Mortgagee Letter 2005-46, dated December 1, 2005, are
scheduled to expire June 1, 2007. HUD has now determined that these special loss
mitigation tools are still needed to assist homeowners with FHA-insured loans who are
unable to maintain mortgage obligations due to hurricane related home damage, curtailment
of income or increased living expenses in the areas that FEMA has declared eligible for
individual disaster assistance. The Department is therefore extending authority for use of
these special assistance measures for eligible borrowers through August 31, 2007.
Any questions regarding this Mortgagee Letter or requirements for use of the special
partial claim and loan modification authorities may be directed to HUD's National Servicing
Center (NSC) at 888-297-8685 or hsg-lossmit@hud.gov.
To view the online article, please click here.
|
