Yes, if a Sanction against a Mortgagee has been reported in the Nationwide Multistate Licensing System & Registry (NMLS), a Mortgagee must submit a Notice of Material Event to FHA using the Lender Electronic Assessment Portal (LEAP) and provide relevant documentation within 10 business days.
For additional information, see:
For additional information, see:
- Single Family Housing Policy Handbook 4000.1 I.A.7.a and I.A.7.u 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/