HUD Notice H 2014-1 HUD REO Lead Disclosure Requirements
On January 10, the U.S. Department of Housing and Urban Development (HUD) released Notice H 2014-1, subtitled HUD Real Estate Owned (REO) Lead Disclosure Requirements.
Special Attention of:
All Homeownership Center Directors
All Real Estate Owned (REO) Directors
All Management and Marketing Contractors
All REO Purchasers
Notice H 2014-1
Expires: This Notice remains in effect until amended, superseded, or rescinded
Subject: HUD Real Estate Owned (REO) Lead Disclosure Requirements
Purpose: This Notice provides guidance to help ensure that HUD’s Asset Managers
(AMs), Field Service Managers (FSMs) and the Selling Brokers assisting in the
disposition of Federal Housing Administration’s (FHA) REO properties are in
full compliance with the requirements of the Department’s Lead Disclosure Rule
at 24 CFR Part 35, Subpart A. This Notice supersedes Housing Notice 2006-07.
This guidance only applies to the disclosure of information on lead-based paint
(LBP) and/or lead-based paint hazards for HUD-owned single family homes
constructed before 1978.
Related Forms:
Form HUD-9545-Y, “Property Disposition Program Lead-Based Paint Disclosure
Addendum to Sales Contract”
Form HUD-9545-Z, “Property Disposition Program Lead-Based Paint Disclosure
Addendum to Sales Contract”
Form HUD-9548-G, “Property Disposition Program 203(k) Rehabilitation
Financing Lead Agreement”
Form HUD-9548-H, “Property Disposition Program 203(k) Rehabilitation
Financing Lead Agreement Completion of 203(k) Rehabilitation Financing
Lead-Based Paint Stabilization and Clearance”
Background for Lead Disclosure Rule Compliance: HUD, its Management and Marketing contractors (FSMs and AMs), and Selling Brokers responsible for the management and sale of HUD-owned single family properties, must fully comply with the requirements of the Lead Disclosure Rule at 24 CFR Part 35, Subpart A with respect to the disposition of all properties constructed before 1978. Responsible parties should also be familiar with the Fair Housing and Lead Based Paint guidance document. Access to this document and the Lead Disclosure Rule are available on HUD’s website at: http://portal.hud.gov/hudportal/HUD?src=/program_offices/healthy_homes/enforcement/disclosure.
Please click here to view the notice 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.
