FHA Extends COVID-19 Forbearance Through May

The Federal Housing Administration (“FHA”) announced recently that they will extend the deadline for COVID-19 related forbearance requests through May 31, 2023. The COVID-19 forbearance option had been set to expire at the end of the COVID-19 National Emergency. FHA announced in Mortgagee Letter 2023-08 that with the COVID-19 National Emergency set to expire early, extending the forbearance option through May would allow borrowers who need assistance additional time to request such relief and allow servicers time to offer and process any such requests.

To review the Mortgagee Letter in its entirety, please visit Mortgagee Letter (ML) 2023-08.