COVID-19: Is HUD suspending credit reporting for FHA-Insured mortgages during the COVID-19 National Emergency?

Any Borrower who is granted a COVID-19 Forbearance and is otherwise performing as agreed is not considered to be delinquent for purposes of credit reporting.
 
HUD encourages servicers to comply with the credit reporting requirements of the Fair Credit Reporting Act (FCRA); however, FHA  encourages servicers to consider the impacts of the COVID-19 National Emergency on Borrowers’ financial situations and any flexibilities a servicer may have under the FCRA when taking any negative credit reporting actions.

For additional information see Mortgagee Letter 2020-22 available at:
https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee  

FHA continues to revise its FHA Single Family COVID-19 information as needed to keep stakeholders updated with the latest information about FHA’s response to the  COVID-19 National Emergency.  Related information for FHA Mortgagees, Borrowers and other interested parties is available at: https://www.hud.gov/program_offices/housing/sfh and on the
https://www.hud.gov/answers website.
 


All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: KA-05414