Deployment of LEAP Rescheduled for May 27, 2014

The following was posted today (May 8th) on the LEAP Information page:

FHA’s Lender Electronic Assessment Portal (LEAP) 3.0 has entered its final implementation phase and soon will be used by all of FHA’s approximately 2,900 approved lenders for their annual recertifications, including an estimated 2,500 in the month following deployment. Please note:  Lenders with a December 2013, January 2014, or February 2014 fiscal year end must complete all recertification steps in LEAP no later than 30 days from system deployment.  Lenders with fiscal years ending in December, January, and February still will have 30 days from the deployment of LEAP 3.0 to complete their recertifications.  A LEAP 3.0 User Guide will be available on this page on May 19, 2014.

The transition to LEAP 3.0 began on April 18, 2014.  During the transition period, lenders are unable to access or make changes to their lender profile information in FHA Connection, including changes to the bank accounts used to submit payments to HUD using the automated collection service (cash flow accounts). The transition period does not impact loan origination, servicing, or reporting functions in FHA Connection or in Neighborhood Watch.

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