HUD Provides New Flexibility For Calculating Effective Income for FHA Loan Applicants Affected by a COVID-19 Related Economic Event
CFPB Monitor
JULY 12, 2022
For purposes of both types of underwriting, a COVID-19 Related Economic Event refers to a temporary loss of employment, temporary reduction of income, or temporary reduction of hours worked during the Presidentially-Declared COVID-19 National Emergency. to HUD Handbook 4000.1.). Calculation of Effective Income—TOTAL and Manual.
148 
Let's personalize your content