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34 COVID-19 | Special Report VP MIKE PENCE ADDRESSES INDUSTRY STAKEHOLDERS ON COVID-19 RESPONSE e Vice President of the United States Mike Pence addressed business and mortgage leaders during a conference call, discussing the federal government's response to COVID-19. e call was hosted by Dr. Benjamin Carson, Secretary for the Department of Housing and Urban Development (HUD) and Brian D. Montgomery, Federal Housing Commissioner and Assistant Secretary of HUD. Pence told the mortgage and business leaders that "we are making real progress" in slowing the spread of COVID-19, and that social-distancing efforts are helping to flatten the curve. "As of this morning, I am pleased to report that the numbers on the west coast continue to be low and steady but even in the New York metro area, including New Jersey and Connecticut and of course all of New York City's broader area we believe that we are past the peak," Pence said. Pence continued, saying: "Every single day we are one day closer to putting this epidemic in the past and I want to assure you that we are going to continue to use the full weight of the local government to support." Secretary Carson said that the FHA took a series of important actions to provide relief to the American people across the country. HUD enacted foreclosure and eviction moratoriums for 60 days in March and announced in April that homeowners insured through the FHA could either make reduced payments or defer payments for six months if they were impacted by COVID-19. Commissioner Montgomery added that the FHA will "obviously evaluate" the length of the policy as needed in the weeks ahead. He also said that the FHA issued a temporary waiver related to the in-person contact of early-default intervention. "In accordance with the CARES Act, we swiftly issued a mortgagee letter with loss- mitigation options for single-family borrowers affected by COVID-19. ese policies should ease the stress of both borrowers and servicers," Commissioner Montgomery said. He added that as long as the borrower is on a forbearance plan, the lender or servicer must waive all fees, charges, and penalties. However, Commissioner Montgomery noted that "we strongly encourage" people to continue to pay their mortgages if they are able. "We need to ensure our resources are directed to those who most need the help,"