We write in response to the issuance of Mortgagee Letter 2021-03. We appreciate the steps taken in this Mortgagee Letter, as well as the recently announced moratorium extension through June 30, 2021, to expand the FHA foreclosure moratorium in order to ensure the ongoing housing stability of borrowers in FHA’s Home Equity Conversion Mortgage (HECM) program, and their non-borrowing spouses, in light of the current COVID-19 public health emergency. At the same time, HECM borrowers remain at significant risk of unnecessary foreclosure without additional action. Older people face the greatest risk from the current pandemic, and any housing instability will exacerbate the health and safety risk for those borrowers as well as for the community at large.