My Mortgagee is considered a Small Supervised Mortgagee, what happens if our consolidated assets increase?

A Supervised Mortgagee’s financial reporting requirements in the Lender Electronic Assessment Portal (LEAP) are based on the Mortgagee’s consolidated assets as reported at the end of the Mortgagee’s previous fiscal year end.
 
If a Supervised Mortgagee’s consolidated assets increase so that they are above the threshold for a Small Supervised Mortgagee, LEAP will recognize the increase in consolidated assets and apply the appropriate financial reporting requirements to the Mortgagee’s next annual recertification financial data submission.
 
HUD Policy Determination
 
Handbook 4000.1 Section I.A.2.a and I.A.8.d are 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-04798