The Supplemental Performance Metric (SPM) does not replace the Compare Ratio. The SPM is used as additional information for evaluating a Mortgagee’s performance.
In contrast to the Compare Ratio, which evaluates a Mortgagee’s origination and underwriting performance against the performance of other institutions, the SPM compares a Mortgagee’s default and claim rates on mortgages originated or underwritten within specific credit score bands against target default and claim benchmarks for those same credit score bands.
A Mortgagee’s SPM and Compare Ratio are available in the Neighborhood Watch Early Warning System.
A comprehensive list of Help topics can be found in Neighborhood Watch under the “Help/About” tab on the Neighborhood Watch home page.
Neighborhood Watch can be accessed by approved Mortgagees at https://entp.hud.gov/sfnw/nw/
Public access to Neighborhood Watch is available at https://entp.hud.gov/sfnw/public/
For more information access FHA's Supplemental Performance Metric Fact Sheet at https://www.hud.gov/sites/documents/SF_SPMFACTSHEET.PDF
HQ Policy; FHA INFO #14-24 https://www.hud.gov/program_offices/housing/sfh/FHA_info_messages