FHA Single Family Housing Policy Handbook 4000.1, Part I — a. Requirements for All Post-approval Changes (09/14/2015)
FHA Single Family Housing Policy Handbook 4000.1, Part I — a. Requirements for All Post-approval Changes (09/14/2015).
Verbatim regulatory text
Verbatim provisions from FHA Single Family Housing Policy Handbook 4000.1, Part I — a. Requirements for All Post-approval Changes (09/14/2015) — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
FHA Single Family Housing Policy Handbook 4000.1, Part I — a. Requirements for All Post-approval Changes (09/14/2015)
a. Requirements for All Post-approval Changes (09/14/2015) i. Types of Notification (A) Information Update An Information Update is any change to a Mortgagee’s basic institution or branch information in the FHA systems that can be directly managed by the Mortgagee. (B) Notice of Material Event A Notice of Material Event is the method of submitting a required notice to FHA of a change to the information provided by the Mortgagee at application as evidence of approval eligibility, or a change that affects the Mortgagee’s standing as an FHA- approved Mortgagee. (C) Change Request A Change Request is the method of submitting information and/or business changes to FHA that requires FHA review and approval before acceptance. Any update or change that cannot be made by the Mortgagee directly is submitted as a Change Request. ii. Standard The Mortgagee must submit all Information Updates, Notices of Material Event, and Change Requests to FHA using LEAP. All Information Updates, Notices of Material Event, and Change Requests must be submitted within 10 business days of the change, unless otherwise specified below. Any change not specifically described in this Handbook 4000.1 that affects a Mortgagee’s approval status or conduct of business with HUD must be reported to FHA with a detailed explanation and supporting documentation. iii. Required Documentation The Mortgagee must: • include a cover letter signed by a Corporate Officer summarizing the business change(s); and • submit any required documents as specified in Application and Eligibility Requirements for Approval or as described in the LEAP User Manual.