FHA Single Family Housing Policy Handbook 4000.1, Part III — d. Modification of a Current Loan (05/09/2022)

hud-4000-1-iii-d-modification-of-a-current-loan

FHA Single Family Housing Policy Handbook 4000.1, Part III — d. Modification of a Current Loan (05/09/2022).

Get this register: .xlsx .csv More bundles →

Verbatim regulatory text (1)

Verbatim provisions from FHA Single Family Housing Policy Handbook 4000.1, Part III — d. Modification of a Current Loan (05/09/2022) — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

FHA Single Family Housing Policy Handbook 4000.1, Part III — d. Modification of a Current Loan (05/09/2022)

d. Modification of a Current Loan (05/09/2022) A Lender may enter into a modification agreement with a Borrower without prior permission from HUD on a Loan that is current. A modification agreement: • requires a written agreement signed by the Borrower; • need not be recorded; • may only decrease the interest rate; • must not advance new funds; and • does not require any further insurance reporting to HUD, but all documentation of the modification must be submitted if an insurance claim is filed.

Source: FHA Single Family Housing Policy Handbook 4000.1, Part III — d. Modification of a Current Loan (05/09/2022) · source URL · snapshot 8c03836f77f317e1