Search             Print this page     Email a friend

CHAPTER 10 - HUD Insured Loans

Note: These links are updated from time to time to reflect the most current information available. Visitors are advised to contact HUD to confirm the latest information.

HOPE FOR HOMEOWNERS PROGRAM -- Authorized by the Housing and Economic Recovery Act of 2008 and announced by HUD Secretary Preston on October 1, 2008. Detailed information about eligibility and other requirements can be found at www.fha.gov. Website includes fact sheets, FAQs, and information regarding training conferences. Also see Mortgagee Letter 2009-43 HOPE for Homeowners Program -- Comprehensive Guidelines (10/20/09), with Exhibit A, Exhibit B, Exhibit C, and Exhibit D.

HAMP -- See USFN's Client Resource Center.

RESPA -- HUD's RESPA homepage. Also see HUD's Settlement Cost Booklet.

Interim Remediation Guidance re Problem Drywall (4/2/10)

Mortgagee Letter 2009-05: Project Lifeline Initiative's Impact on FHA's Foreclosure Time Frames (1/16/09)

A. Mortgagee Letter 2006-15: Future Delinquency Reporting Requirements

B. Mortgagee Letter 2006-28: Mortgage and Foreclosure Rights of Servicemembers under the Servicemembers Civil Relief Act (11/20/06) 

C. Mortgagee Letter 2008-29 and the Attachments, and Mortgagee Letter 2008-30: Hope for Homeowners Mortgagee Letters and Exhibits.

      1. HUD LOSS MITIGATION PROGRAMS
        
          A. Mortgagee Letter 2008-21. This letter adresses the legal fees and foreclosure costs that have changed concerning loss
              mitigation.

          B. Mortgagee Letter 2008-27 (9/26/08) - Treble Damages for Failure to Engage in Loss Mitigation.

          C. Mortgagee Letter 2008-32 (10/17/08) - Updates HUD's position on the use of FHA Loss Mitigation while a borrower is in bankruptcy. The guidance regarding mortgagors in bankruptcy provided on pages 9 and 25 of ML 2000-05 is superseded by ML 2008-32.

          D. Mortgagee Letter 2009-52 (12/16/09) - Short Sales & Short Payoffs

Mortgagee Letter 2008-43 (12/24/08) - Utilizing the PFS Loss Mitigation Option to Assist Families Facing Foreclosure (Attachments 1, 2, 3, 4, 5, 6)

Mortgagee Letter 2009-35 (9/23/09) - Loan Modifications: FHA Loss Mitigation Incentives - Update

Mortgagee Letter 2010-04 (1/22/10) -- Loss Mitigation for Imminent Default

      2. HUD TIER RANKING SYSTEM -- Tier Ranking Scores - Incentive Round 38: Mortgagee Letter 2010-09 (3/8/10)

      3. Mortgagee Letters 2006-31 (with attachment); 2005-18, 2004-30 and its attachment

      4. HUD'S NEIGHBORHOOD WATCH SYSTEM (Also see ML 2006-27 and ML 2005-26)

      5. Mortgagee Letter 93-14

      6. Mortgagee Letter 89-32     

      7. Mortgagee Letter 2002-19 (2002-19 is updated in part by ML 2007-03)
      
      8. Mortgagee Letter 2001-19, with attachments 1, 2, 3         
         (for actions commenced prior to September 1, 2005)

      9. Mortgagee Letter 2005-30, with attachments 1, 2, 3, and 4  
         (for actions commenced on or after September 1, 2005).

     10. FHA CONNECTION

     11. HUD HOMEOWNERSHIP CENTERS [Also see Announcement of FHA Resource  
          Center ML 2006-08 (5/1/06).]

     12. MANAGEMENT & MARKETING CONTRACTORS: HUD's M&M website. Also see Mortgagee
         Letter 2004-45 and updates in Mortgagee Letters 2007-07, 2006-32, 2006-02, 2005-35, 2005-29, 2005-25, 
         2005-12, 2005-07, and 2005-04.

  M&M III and Mortgagee Compliance Manager (MCM): visit special website regarding P260 Portal (including Portal User Guides and training information) - March 2010 and see Mortgagee Letter 2010-16 (dated April 20, 2010), "Introduction of M&M III Mortgagee Compliance Manager (MCM) and P260 Internet Portal."

     13. HUD DEBENTURE RATES and Mortgagee Letter 2004-33

     14. Mortgagee Letter 2010-18   (dated 5/13/10) -- Update of Preservation and Protection Requirements and Cost Reimbursement Procedures (supersedes ML 2008-31 and its attachment in its entirety). The ML and/or its exhibits cover items 14.A to 14.T, unless otherwise noted. (Scroll/word search for desired information within ML and/or review relevant exhibits.) Frequently Asked Questions/FAQs. For implementation timeline, click here. Further questions about ML 2010-18? Call HUD's National Servicing Center at (888) 297-8685. 

A. Claiming Reimbursement (For instructions on claim processing and document submission, see HUD Handbook 4330.4, REV-1, "FHA Single Family Insurance Claims" http://www.hud.gov/offices/adm/hudclips/handbooks/hsgh/4330.4/index.cfm. Also see special website regarding P260 Portal (including Portal User Guides and training information).

B. Responsibility for Damage (also see ML 2002-19)

       1. Damage by fire, flood, earthquake, tornado, hurricane, or condominium's boiler explosion
       2. Damage due to mortgagee neglect

C. Existing Warranties

NOTE: The P&P-related info presented below and in some of the listed links is provided for convenient reference to the general requirements only. For all current REO P&P cost schedules, and as announced in Mortgagee Letter 2004-16, readers should refer to: www.hud.gov/offices/hsg/sfh/reo/pandpsched/index.cfm.

D. Inspections (See Exhibit A to ML 2010-18. Also see 24 CFR § 203.377 and HUD Handbook 4330.1, Rev-5, Ch. 9-9, as it provides complete details on inspection requirements and types of inspections.)

E. Boarding of Properties (See Exhibit A to ML 2010-18)

F. Debris Removal

G. Hazardous Waste Removal

H. Ground and Yard Maintenance and Snow Removal (See Exhibit A to ML 2010-18)

I. Eviction - SEE LINK 9 ABOVE

J. Winterization (See Exhibit A to ML 2010-18)

K. Utilities (See Exhibit A to ML 2010-18)

L. Lock Change/Securing/Winterizing Swimming Pools (See Exhibit A to ML 2010-18)

M. Photographs (See Exhibit A to ML 2010-18)

N. Signs for Emergency Contact

O. Failure to Perform Preservation & Protection

P. Requests to Exceed Cost Limits (See Exhibit A to ML 2010-18)

Q. Extensions of Time (See Exhibit A to ML 2010-18)

R. Lender Appeal Process (See Exhibit A to ML 2010-18)

S. Allowable Post-Endorsement Fees & Charges (See Part II of ML 2002-10)

T. Maximum Allowable Cost per Property (See Exhibit B to ML 2010-18)    

<BACK TO TOP>