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Federal Housing Agencies To Issue Reminders Of Mortgage Assistance To The Victims Of Maui Wildfires

The victims of Maui wildfires or the homeowners affected by a natural disaster can get mortgage assistance from several Federal Housing Agencies.

September 4, 2023

The Joint statement was released by the Federal Housing Agencies such as Federal Housing Administration (FHA), Federal Housing Finance Agency (FHFA), United States Department of Agriculture (USDA) and United States Department of Veteran Affairs (VA) to request the support for the residents of Hawaii affected by the wildfires on the Hawaiian Island of Maui.

The Joint statement from the Federal Housing Agencies is as follows:

“We stand in solidarity with the people of Maui and offer our deepest condolences and sympathies to those who have lost loved ones, homes, businesses, and communities to these devastating fires. As fire suppression and search and rescue efforts continue, federal housing agencies are engaging with state officials and local partners, and in interagency efforts, to monitor the impact on households and the housing sector and ensure awareness of available disaster assistance for homeowners. We are committed to providing homeowners flexibility and assistance so they feel the security of knowing they will have the option to return and rebuild when it is safe to do so. This community will need all the support it can get, including federal aid and private-sector involvement. FHFA through Fannie Mae and Freddie Mac, Department of Veterans Affairs, USDA, Ginnie Mae, and FHA have tools to help lenders, servicers, and issuers meet the needs of homeowners in this difficult time. Additionally, USDA and HUD are working to provide assistance and resources to tenants who have been displaced in federally assisted multifamily rental homes, as well as impacted owners and operators.”

HUD-certified housing counselors are prepared and well-trained to guide the available options for homeowners and renters who need immediate housing and disaster recovery assistance. Homeowners are also encouraged to reach out to their mortgage servicer for assistance in times of disaster.

Affected homeowners who need mortgage payment relief are to be contacted by the FHA-approved mortgage servicers doing business in Maui County. The services can offer temporary forbearance to borrowers and may provide forbearance because of the extensive destruction in Maui.

FHA-approved lenders are encouraged to assist homeowners in the coming weeks and months by informing the particular teams entrusted with the responsibility of providing financing on a new mortgage.

In addition to this, Ginnie Mae is actively reaching out to issuers whose mortgage-backed securities are linked to loans in Maui County, particularly those guaranteed or insured by agencies like FHA, Veterans Affairs, USDA, and rural and tribal programs. They are urging issuers facing potential impacts to reach out and seek assistance as necessary.

There are also guidelines for single-family mortgages impacted by disaster by FHFA which includes that mortgage servicers can offer a forbearance plan for 90 days if the home was impacted by disaster. The Homeowners are also allowed to suspend their mortgage payments for around 12 months after entering into a forbearance plan. Apart from a forbearance plan, there are several other options available to help homeowners catch up on the missed payments.

USDA is also providing immediate relief to borrowers of the Single Family Housing Guaranteed Loan Program (SFHGLP) impacted by Maui wildfires.

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The content provided in this article draws inspiration and includes quotes from various reputable sources, including news articles, government data, and interviews. Affordable Housing 411 strives to ensure accuracy and credibility, but the information presented may be based on some external sources. We encourage readers to refer to the referenced materials for more in-depth insights and verification.

Department of Housing and Urban Development. “Federal Housing Agencies Issue Reminder of Mortgage Assistance for Those Impacted by the Maui Wildfires”. Department of Housing and Urban Development, August 18, 2023,
Federal Housing Agencies Issue Reminder of Mortgage Assistance for Those Impacted by the Maui Wildfires | / U.S. Department of Housing and Urban Development (HUD)

Last Updated: September 20, 2021