HUD Audit Guide Chapter 7 Updated

HUD OIG has released the Consolidated Audit Guide revised Chapter 7 – ‘FHA-Approved Lenders Audit Guidance’.  The transmittal letter issued in October 2016 lists the significant changes as:

  • Certain mortgagee letters and chapters of HUD Handbook 4060.1 were retired with the issuance of HUD Handbook 4000.1. References were updated to reflect these new changes. HUD Handbook 4000.1 only applies to single family lenders with the exception of section I.A.1 – I.A.9, which also applies to multifamily lenders.
  • Regulatory references were made to update current requirements.