HUD Mortgagee Letter 2023-11 — Update to ML 2023-03 Regarding Loss Mitigation Options for Non-Borrowers Who Acquired Title through an Exempted Transfer
HUD ML 2023-11 reinstates FHA-HAMP Loss Mitigation for Mortgagees to review Non-Borrowers Who Acquired Title through an Exempted Transfer (III.A.2.j.ii(A)(4)(b)) and are in Default or Imminent Default, while leaving all other Borrowers under the COVID-19 Recovery Home Retention Options through October 30, 2024.
Verbatim regulatory text
Verbatim provisions from HUD Mortgagee Letter 2023-11 — Update to ML 2023-03 Regarding Loss Mitigation Options for Non-Borrowers Who Acquired Title through an Exempted Transfer — 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.
HUD ML 2023-11 — Effective Date
The provisions of this ML may be implemented immediately but must be implemented no later than July 21, 2023.
HUD ML 2023-11 — Non-Borrowers Who Acquired Title through an Exempted Transfer Not Eligible for COVID-19 Recovery Options (III.A.2.o.iii(B))
Non-Borrowers Who Acquired Title through an Exempted Transfer (III.A.2.j.ii(A)(4)(b)) are not eligible for the COVID-19 Recovery Options and must be evaluated for FHA’s standard Loss Mitigation Options (III.A.2.j).