COVID-19: Will Mortgagees be penalized if they are unable to submit case binders to FHA within 10 business days of the binder request as a result of temporary office closures or reductions in on-site staff during the COVID-19 pandemic?

No. Mortgagees should make every effort to submit case binders to FHA as quickly as possible, but they will not be penalized for overdue binder requests caused by their temporary office closures or staff reductions related to COVID-19.

 

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 pandemic.  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.



HQ Policy Determination - COVID-19 guidance


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-05442