Effective with the November 13, 2013, issuance of Mortgagee Letter 2013-41 (ML 2013-41) by the FHA, all Single Family FHA-approved lenders must self-report to FHA in accordance with the guidance set forth in ML 2013-41. The self-reporting requirements in ML 2013-41cover the following: • What must be reported to FHA; • Timeframe for lenders’ internal reporting to senior management; • Timeframe for lenders’ external reporting to FHA; • How findings should be reported to FHA; • FHA’s review process; and • The repercussions of failing to report to FHA. The self-reporting guidance in ML 2013-41 replaces Section 7-3, Paragraphs (I) and (J), of HUD Handbook 4060.1, REV-2. Download complete memorandum below
