Information collected is required under the COVID-19 National Emergency. Lenders and servicers participating in HUDâs Section 184 and 184-A programs must report on loans impacted by COVID-19 on a weekly basis and their entire loan portfolio on a monthly basis. Lenders and servicers must also report which type of loss mitigation option the borrower is under. HUDâs Section 184/184A Servicing Report collects the required data with minimal burden.
The CARES Act mandates that all lenders participating in HUD loan guarantee programs provide an immediate forbearance for any borrower impacted by, and requesting relief from, the COVID-19 National Emergency. The Act also allows lenders to seek payment of the forgone mortgage payments at the end of the forbearance period, provided that the borrower meets specified criteria.
In early May 2020, HUD issued Dear Lender Letter 2020-06 detailing loss mitigation options in response to the COVID-19 National Emergency. This letter states: Lenders and servicers must report on COVID impacted loans on a weekly basis and their entire loan portfolio on a monthly basis.
Information collected is required under the COVID-19 National Emergency. Lenders and servicers participating in HUDâs Section 184 and 184-A programs must report on loans impacted by COVID-19 on a weekly basis and their entire loan portfolio on a monthly basis. Lenders and servicers must also report which type of loss mitigation option the borrower is under. HUDâs Section 184/184A Servicing Report collects the required data with minimal burden.
No
No
No
No
No
No
Yes
Deana Ohara 202 402-4228
Reginfo record details
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.