HUD v. FHA, FHA Eviction Moratorium and FHA Loan Look-up

What is difference between HUD and FHA?

KEY TAKEAWAYS

• The FHA is part of the U.S. Department of Housing and Urban Development.
• HUD itself doesn’t do loan guarantees for individual homes unless you're a Native American.
• It is solely the FHA that insures mortgages for single-family-homebuyers.

FHA COVID-19 Q&A - Updated April 3, 2020

Do I have a FHA loan?

Fannie Mae’s and Freddic Mac's Loan Lookup tool helps you quickly determine if either owns your loan, which may be helpful to know before you:

• Refinance;
• Modify your mortgage;
• Request disaster-recovery assistance
• Pursue foreclosure prevention options; or
• Pursue eviction filings

FHA Eviction Moratorium - July 25, 2020

Sec. 4024: Temporary Moratorium on Eviction Filings

In addition to the prohibition on eviction under Section 4023 during the term of a forbearance, Section 4024 of the CARES Act separately provides for a 120-day moratorium on eviction proceedings against residential tenants of multifamily and single-family properties with federally backed mortgage loans (i.e., the mortgage on the real property is insured, guaranteed, supplemented or assisted in any way by HUD or any other federal agency, or is purchased or securitized by Fannie Mae or Freddie Mac), or properties that participate in the rural housing voucher program or a housing program under the Violence Against Women Act of 1994. The moratorium began on the date of enactment of the CARES Act (March 27, 2020) and ends 120 days later, on July 25, 2020. During this period, landlords of covered dwellings are prohibited from (a) initiating court proceedings to recover possession of the rental unit for nonpayment of rent or other fees and (b) charging fees, penalties, or other charges related to the tenant’s nonpayment of rent. Further, the landlord may not require the tenant to vacate until 30 days following written notice to vacate, which notice may not be given until after the expiration of the 120-day term.