FHA INFO #17-03: Changes to HECM Claim Type 22 Assignment Requests; IT Security and Data Privacy Protocols

Investor Update
January 18, 2017

 
Consolidated and New Guidance on HECM Claim Type 22 Assignment Requests

Today, the Federal Housing Administration (FHA) published Mortgagee Letter 2017-05, Home Equity Conversion Mortgage (HECM) Claim Type 22 Assignment Requests. This Mortgagee Letter consolidates policy found in various existing Mortgagee Letters and Handbooks for mortgagees submitting HECM assignment requests by initiating a Claim Type 22 (CT-22) in HUD’s Home Equity Reverse Mortgage Information Technology system. By consolidating this information into one source, FHA is making it easier for mortgagees to locate the information needed to submit a HECM assignment request. This, in turn, may help improve accuracy of HECM claim submissions and improve processing times for claim requests; thus, contributing to the overall goal of making it easier to do business with FHA.

This Mortgagee Letter does not contain new policy specific to assignment eligibility; however, the stacking order of items needed for the various documentation packages has changed. As noted in the Mortgagee Letter:

  • Mortgagees submitting documentation packages in support of their Assignment Request must look closely at the requirements and ensure ALL documents required are included, and that they are in the correct stacking order.
  • If any documents are missing and/or are not in the correct stacking order, the assignment request will be denied and the mortgagee will have to resubmit the request.

Servicers are able to implement guidance in Mortgagee Letter 2017-05 as early as the publication date for all new HECM CT-22 Assignment Requests, but no later than 90 days after the publication date.

Quick Links

New FHA FAQ Describes Information Technology Security and Data Privacy Protocols

The Federal Housing Administration (FHA) has made available on its Resource Center’s FAQ site, a new frequently asked question (FAQ), “Does FHA have specific information technology (IT) security and data privacy requirements for FHA-approved mortgagees?” The new FAQ response describes the requirements for communicating IT security and consumer data privacy issues to FHA by all FHA-approved mortgagees and lenders.

Quick Links

Resources

Contact the FHA Resource Center:

  • Visit our online knowledge base to obtain answers to frequently asked questions 24/7 at:
    www.hud.gov/answers.
  • E-mail the FHA Resource Center at: answers@hud.gov. Emails and phone messages will be
    responded to during normal hours of operation, 8:00 AM to 8:00 PM (Eastern), Monday through
    Friday on all non-Federal holidays.
  • Call 1-800-CALLFHA (1-800-225-5342). Persons with hearing or speech impairments may reach
    this number by calling the Federal Relay Service at 1-800-877-8339.

Source: HUD (FHA INFO #17-03 full version)