The new timeline moves the moratorium’s expiration deadline, as well as the timeframe for a borrower to request an initial COVID-19 forbearance by three months to June 30.
Several trade groups are urging the FHA to adopt identical compliance aid language used in other federal agency regulations when allowing private flood coverage as an option for single-family insured loans.
The company, which buys and sells homes directly, cautioned that it may not have sufficient cash flow from its businesses to pay down its substantial debt.
But first, some background: In 2015, NAMIC and the American Insurance Association successfully challenged the Department of Housing and Urban Development’s final rule on the use of disparate impact to prove allegations of unlawful discrimination with regards to homeowners’ insurance.