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Important Update: Revised Borrower Support Options for Section 184 & 184A – HUD’s Dear Lender Letter 2023-04

B2B / Loss Mitigation Calculator On Laptop

To All WaterfallCalc Users,

HUD has revised their borrower support options under the Dear Lender Letter 2023-04 for Section 184 & 184A, here are the crucial changes:

Borrowers 90 days or more delinquent must be reviewed for the COVID-19 Loss Mitigation Options, no matter the reason for default until October 30, 2024.

Loss Mitigation Advance now allows up to 30 percent of the unpaid principal balance to be allotted to bring the borrower current. This increased from 25 percent.

If Target Payment can’t be achieved, the lowest possible monthly payment should be offered under the COVID-19 Recovery Native Loan Modification or a COVID-19 Loss Mitigation Advance.

Please make sure you’re aware of these updates. If you need more details, don’t hesitate to contact us at