The Mortgagee must review all Test Case results in the Loan Review System (LRS). Generally, test cases will be given a 7-calendar day turnaround time for initial reviews and 5-calendar days for reconsideration files, commencing with the date received.
Review results will be documented in accordance with the Title II Loan Reviews/Findings section of Handbook 4000.1. (Section V.C.3.b.iv.) and the Single Family Housing Loan Quality Assessment Methodology (available at: https://www.hud.gov/program_offices/housing/sfh/lender).
For additional information see:
Handbook 4000.1, Sections I.A.5.a.iii.(A) and V.C.3.b.iv available at: https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh
Loan Review System web page available at: https://www.hud.gov/program_offices/housing/sfh/lender/loan_review_system
HUD Policy Determination