FHA Points Non permanent Partial Waivers to Its HECM Insurance policies | Weiner Brodsky Kider PC
The FHA approved on 2. The temporary partial waivers apply to Mortgagee Letter 2015-11 and Mortgagee Letter 2016-07 and are valid until June 30, 2022.
The Mortgagee Letter 2015-11 waiver enables mortgage holders to offer HECM borrowers amortization plans with unpaid real estate fees, regardless of their total outstanding arrears. The 2016-07 mortgage letter waiver allows mortgage creditors to apply for an HECM assignment on or after March 1, 2020 immediately after using their own funds to pay unpaid property taxes and / or hazard insurance. In addition, the waiver declaration eliminates the three-year waiting period for such tasks.