How are Large and Small Supervised Mortgagees defined?

A Supervised Mortgagee is a financial institution that is a member of the Federal Reserve System (FRS) or whose accounts are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA) – collectively referred to as “Federal Banking Agencies."

 
Large Supervised Mortgagee
A Large Supervised Mortgagee is a Supervised Mortgagee that has consolidated assets greater than or equal to the threshold for audited financial reporting established by the Federal Banking Agency with oversight of the Mortgagee.  Thresholds are codified at 12 CFR §§ 363.1(a), 562.4(b)(2) and 715.4(c), and are subject to change.
 
Small Supervised Mortgagee
A Small Supervised Mortgagee is a Supervised Mortgagee that has consolidated assets below the threshold for audited financial reporting established by the Federal Banking Agency with oversight of the Mortgagee.  Thresholds are codified at 12 CFR §§ 363.1(a), 562.4(b)(2), and 715.4(c), and are subject to change.
 
The Electronic Code of Regulations (e-CFR) is available at http://www.ecfr.gov/ 

For additional information see Handbook 4000.1 I.A.2.a.i. available at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh

All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: KA-03119