Assistant Secretary for Housing and Federal Housing Commissioner Brian Montgomery issued a video message regarding COVID-19. Commissioner Montgomery said that while his goal “to keep this segment of the economy moving and to ensure that American’s have access to safe, decent and affordable housing” stakeholders should expect processing delays as FHA employees transition to work from home. He reminded single family servicers of their obligations to offer the full suite of FHA’s loss mitigation options to distressed borrowers to prevent foreclosures. Inspections for multifamily properties have been postponed until further notice and generally, FHA is waiving requirements that involve face to face contact or inspections.
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