The Mortgagee must report in Single Family Default Monitoring System (SFDMS) the Delinquency/Default Status Codes that accurately reflect the stage of delinquency or mortgagee action.
In addition, the Mortgagee must notify the State of Hawaii Department of Hawaiian Home Lands (DHHL) each month of:
- which Section 247 insured Mortgages on Leaseholds of Hawaiian Home Lands are 30 or more Days Delinquent on the last Day of the month, and the status of Mortgages that were reported as Delinquent the previous month.
The Mortgagee may use form HUD-92068-A, Monthly Delinquent Loan Report, completed in FHA Connection (FHAC), to meet its DHHL reporting requirements. The Mortgagee must submit the information by the fifth business day following the close of each month to:
Department of Hawaiian Home Lands
Loan Services Branch
P.O. Box 1879
Honolulu, Hawaii 96805
Attn: FHA Insured Section 247
The Mortgagee may offer the following Loss Mitigation Options to eligible Borrowers with Section 247 Mortgages:
- repayment plans; Informal/Formal Forbearances; Special Forbearance (SFB)-Unemployment; Loan Modifications; and FHA-HAMP Loan Modifications.
If the resultant front-end ratio of the modified Mortgage is greater than 40 percent, the Borrower is not eligible for loss mitigation.
Due to Hawaii state law prohibitions on the placement of junior liens on Properties secured by Section 247 Mortgages, the Mortgagee must not use Partial Claims with Section 247 Mortgages.
Additional questions may be directed to email@example.com
See Policy in Handbook 4000.1 Section III.A.3.d. at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh