MBA Letter to FHA on Permanent Loss Mitigation Waterfall

2024 Comment Letters FHA Multifamily Government Lending Government Servicing GSE Multifamily Policy Issue Residential
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The Mortgage Bankers Association appreciates the efforts of the Federal Housing Administration (FHA) to engage with the industry to craft effective loss mitigation guidance to protect borrowers from foreclosure, especially the recently announced Payment Supplement program. As you know, access to the FHA’s COVID-19 Recovery Loss Mitigation Waterfall (“COVID waterfall”) will expire on April 30, 2025. MBA believes that maintaining the flexibility available to distressed borrowers throughout the pandemic is essential to preserving affordable homeownership for future borrowers and the health of the Insurance Fund.