Servicers Followed the COVID-19 Foreclosure Moratorium Requirements but Could Have Better Communicated the Requirements to Borrowers
Audit · Department of Housing and Urban Development OIG · 2024-05-24 · about Department of Housing and Urban Development
Report
Title
Servicers Followed the COVID-19 Foreclosure Moratorium Requirements but Could Have Better Communicated the Requirements to Borrowers
Submitting OIG
Department of Housing and Urban Development OIG
Component agency
Department of Housing and Urban Development
Type
Audit
Publication date
2024-05-24
Summary
Servicers followed the COVID-19 pandemic foreclosure moratorium requirements. However, they could have better communicated the moratorium requirements to delinquent borrowers who were subject to foreclosure proceedings. This situation occurred because HUD did not require servicers to notify borrowers directly about the foreclosure moratorium and that occupancy would pause the foreclosure process.
Recommendations (1)
#
Status
Text
2024-KC-0002-001-C
Open
Review the two loans in our sample that did not receive appropriate servicing and take administrative actions if appropriate.