Residential MortgageCompliance Monitor

FHA Publishes Update to Handbook 4000.1

June 30, 2016, HUD issued a Transmittal Memorandum to the following entities:

  • All FHA Approved Mortgagees
  • All Direct Endorsement Underwriters
  • All FHA Roster Appraisers
  • All FHA Roster Inspectors
  • All FHA Approved 203(k) Consultants
  • All HUD Approved Housing Counselors
  • All HUD Approved Nonprofit Organizations
  • All Governmental Entity Participants
  • All Real Estate Brokers
  • All Closing Agents
The information provided is reproduced below:
1. This Transmits:
The incorporation of previously published updates to Handbook 4000.1, FHA Single Family Housing Policy Handbook.
2. Explanation of Materials Transmitted:
This revision to the FHA Single Family Housing Policy Handbook, or Handbook 4000.1 (Handbook), is being published to update existing sections. To prepare for future publications of additional sections of the Handbook, changes to the table of contents in Section II, as previously announced on March 14, 2016, have been made as noted below:
II. Origination Through Post-Closing/Endorsement
  • A.    Title II Insured Housing Programs Forward Mortgages
  • B.    Title II Insured Housing Programs Reverse Mortgages (Previously Section II.C)
  • C.    Condominium Project Approvals (Previously Section II.D)
  • D.    Appraiser and Property Requirements for Title II Forward and Reverse Mortgages (Previously Section II.B)
  • E.    Title I Insured Programs
  • F.    Appraiser and Property Requirements for Title I
Additionally, a list of content updates being made to the Handbook is posted in the PDF version of this article on our website. Click here to view the PDF.
3. Implementation:
All updates made to the Handbook are effective immediately, and does not change any previously announced effective dates.

4. Superseded Policy:
Previous versions of Handbook 4000.1 are amended as described in this Transmittal. Below is a list of Mortgagee Letters, Housing Notices, and/or Handbooks containing content related to these sections of Handbook 4000.1 that are hereby superseded in their entirety and are cancelled on June 30, 2016. All previously superseded or cancelled Mortgagee Letters, Housing Notices, and/or Handbooks remain cancelled or superseded, but will continue to be available for informational purposes only on HUD’s website along with the items listed below. Policy documents that have been superseded in full by the Handbook can always be found on HUD’s Client Information Policy Systems (HUDClips) web pages, accessible from the Single Family Housing Superseded Policy Documents page at http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/sfhsuperseded

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Anna DeSimone founded Bankers Advisory in 1986 and is a nationally recognized authority in residential mortgage lending. She has received numerous industry awards and has authored more than 40 best practices guides and hundreds of articles.

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Residential Mortgage Compliance Monitor is an educational resource for financial institutions, providing announcements, legislative summaries, and policy changes issued by state and national regulators. Announcements also cover mortgage lending rules of HUD, Fannie Mae, Freddie Mac, and other mortgage agencies.