The September 14, 2015 effective date for most sections in FHA’s new Single Family Housing Policy Handbook (SF Handbook; HUD Handbook 4000.1) is fast approaching. This includes the policies and procedures outlined in the published versions of the Doing Business with FHA—Lenders and Mortgagees; Origination through Post-Closing/Endorsement for Title II Forward Mortgages; Appraiser and Property Requirements for Title II Forward and Reverse Mortgages; and Quality Control, Oversight, and Compliance—Lenders and Mortgagees SF Handbook sections, unless otherwise noted.
Mortgagees and others are reminded that they are expected to be fully compliant with the published policy in the SF Handbook sections, as referenced above, on the September 14, 2015 effective date.
As of the effective date of September 14, 2015, many of the old Housing Handbooks will be superseded either in whole or in part. There are many changes, particularly in the “Quality Control, Oversight, and Compliance” section of the new handbook which will most likely require lenders to update their Quality Control Plan. Lenders should read through this new section and evaluate their current Quality Control Plans to determine if they are in compliance with the new requirements.
- Connect to the online version of the HUD Handbook 4000.1 via HUDCLIPS at: https://www.hud.gov/sites/documents/40001HSGH.PDF