A Notice of Material Event is the method of submitting a required notice to FHA of a change to the information provided by a Mortgagee at application as evidence of approval eligibility, or a change that affects a Mortgagee’s standing as an FHA-approved Mortgagee. Mortgagee changes that require submission of a Notice of Material Event include, but are not limited to, the following:
A Mortgagee must submit a Notice of Material Event to FHA using the Lender Electronic Assessment Portal (LEAP) within 10 business days of the change, unless otherwise specified in Single Family Housing Policy Handbook 4000.1.
For additional information, see:
- Change in Partnership or Principal Owners
- Liquid Assets or Net Worth Deficiency
- Operating Loss
- Changes to Fidelity Bond
- Changes to Errors and Omissions Insurance
- Principal Activity Change of Nonsupervised Mortgagee
- Supervision Change
- Change in Business Form
- Bankruptcy
- Change to Lending License(s)
- Unresolved Findings or Sanctions
A Mortgagee must submit a Notice of Material Event to FHA using the Lender Electronic Assessment Portal (LEAP) within 10 business days of the change, unless otherwise specified in Single Family Housing Policy Handbook 4000.1.
For additional information, see:
- Handbook 4000.1 I.A.7 at: https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh
- LEAP User Manual available at: https://www.hud.gov/program_offices/housing/sfh/lender/