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WBK Industry News - Federal Regulatory Developments

HUD Revises Form 92900-A for Loan-Level Certifications and Requests Comments Regarding Lender-Level Certifications

On March 15, 2016, HUD issued Mortgagee Letter 2016-06 (“ML 16-06”), providing the revised and finalized Form 92900-A, HUD/VA Addendum to the Uniform Residential Loan Application (“Form 92900-A”). The final revised Form 92900-A must be used with FHA case numbers assigned on or after August 1, 2016. FHA-approved mortgagees may not use the new form until the August 1, 2016 effective date.

Among other things, the new Form 92900-A revises various loan-level certifications. HUD previously issued proposed revisions to the Form 92900-A in May and September of 2015. The final Form 92900-A is attached to ML 16-06 and contains certain additional revisions from the prior draft of this disclosure that HUD released on September 1, 2015.

Also on March 15, 2016, HUD published a notice in the Federal Register, soliciting comments required in order to finalize proposed revisions to lender-level certifications. These revisions relate to the annual certification statements included in the FHA Lender Electronic Assessment Portal (LEAP) and the initial certification statements included in the FHA Online Application for Lender Approval. Comments are due by April 14, 2016.

The revised Form 92900-A is attached to ML 16-06, available at:
http://portal.hud.gov/hudportal/documents/huddoc?id=16-06ml.pdf.

The notice requesting comments regarding proposed revisions to lender-level certifications is available at:
https://www.gpo.gov/fdsys/pkg/FR-2016-03-15/pdf/2016-05779.pdf.

HUD also published the following important supplemental documents regarding proposed revisions to lender-level certifications: