Information collected is required
under the COVID-19 National Emergency. Lenders and servicers
participating in HUD’s 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.
HUD’s 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 HUD’s 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. HUD’s Section 184/184A Servicing Report collects
the required data with minimal burden.
No
No
No
No
No
No
Yes
Deana Ohara 202
402-4228
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.