FHA INFO #14-37 Updates to SF Handbook
On June 30, the U.S. Department of Housing and Urban Development (HUD) released single family housing news and updates in FHA INFO #14-37.
FHA INFO #14-37
TO: FHA-Approved Lenders and Mortgagees
What’s New:
Single Family (SF) Handbook: Doing Business with FHA—FHA Lenders and Mortgagees and Quality Control, Oversight and Compliance Sections Posted Today for Feedback
Today, the Federal Housing Administration (FHA) posted two draft sections of its Single Family Housing Policy Handbook (SF Handbook) — Doing Business with FHA—FHA Lenders and Mortgagees and Quality Control, Oversight and Compliance — for stakeholder review and feedback.
(1) The draft Doing Business section contains information regarding eligibility, approval, and recertification requirements for FHA lenders and mortgagees; and
(2) The draft QC/Oversight section explains ongoing lender and mortgagee responsibility to perform institution and loan-level quality control.
The posting of these two sections is a continuation of FHA’s overall effort to develop a comprehensive SF Handbook that will be, at its completion, the single, authoritative source for all Single Family housing policy.
Both sections, as well as supporting information, will be posted for review and feedback on the SF Drafting Table on their respective web pages — Doing Business with FHA—FHA Lenders and Mortgagees and Quality Control, Oversight and Compliance. We invite voluntary stakeholder feedback on these SF Handbook sections from June 30 through July 29, 2014.
FHA will host industry briefing conference calls for mortgagees and other interested parties to review the organization and structure of the draft sections. See below for call details.
Industry Briefing Conference Calls:
To accommodate as many interested parties as possible, FHA will host two industry
briefing conference calls that willcover both the Doing Business with FHA—FHA
Lenders and Mortgagees and Quality Control, Oversight and Compliance sections.
Session 1: July 8, 2014
Time 10:00 – 11:00 a.m., ET
Title: FHA SF Handbook Doing Business with FHA and QC/Oversight & Compliance
Dial-in: 800-260-0719, Passcode 330642
Session 2: July 10, 2014
Time: 3:00 – 4:00 p.m., ET
Title: FHA SF Handbook Doing Business with FHA and QC/Oversight & Compliance
Dial-in: 888-801-1510, Passcode 330643
If your organization will have multiple attendees on the call, please consider hosting a
group conference call as the number of individual phone lines may be limited.
Additionally, in order to maximize the time and value of all participants, FHA requests
that you prepare in advance by reviewing the draft content for the Doing Business
with FHA—Lenders and Mortgagees and Quality Control, Oversight and Compliance
sections, respectively.
About the FHA Single Family Housing Policy Handbook Effort:
FHA’s Single Family Housing Policy Handbook effort is a multi-phased initiative to develop and publish a single, authoritative source for FHA Single Family housing policy using clear and direct language and an improved organizational structure. In fall 2013, FHA posted its first draft section, Application through Endorsement for Title II Forward Mortgages, for feedback. FHA is in the process of finalizing this section for publication in summer 2014, with a future effective date for mortgagees.
Please click here to view the online update in its entirety.
About Safeguard
Safeguard Properties is the largest mortgage field services company in the U.S. Founded in 1990 by Robert Klein and based in Valley View, Ohio, the company inspects and maintains defaulted and foreclosed properties for mortgage servicers, lenders, and other financial institutions. Safeguard employs approximately 1,700 people, in addition to a network of thousands of contractors nationally. Website: www.safeguardproperties.com.