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FHA Will Buy Mortgages in Forbearance, With a Catch

The Federal Housing Administration (FHA) finally announced a new policy, which is temporary, to endorse mortgages where the borrower has requested or obtained COVID-19 forbearance. Mortgagee Letter 2020-16 temporarily reverses the FHA’s existing policy that doesn’t permit FHA insurance for mortgages in forbearance. The agency said the policy ensures “the safeguards of the FHA program [&hellip
Source: Mortgage