WASHINGTON, D.C. – May 25, 2015 – (RealEstateRama) — The U.S. Department of Housing and Urban Development (HUD) recently published a noticeseeking public comment on proposed revisions to the HUD Addendum to Uniform Residential Loan Application, also known as the 92900-A, the loan certification document signed by lenders. HUD is providing a 60-day comment period on proposed revisions to the form and is requesting all public comments be received by July 14, 2015. Read HUD’s notice.
Proposed revisions to language in the form include, but are not limited to, changes to achieve the following:
- Differentiate between initial and final Uniform Residential Loan Application;
- Revise mortgagee certification on debarment and suspension to be loan specific;
- Remove references to Handbooks no longer in use by Single Family Housing;
- Update language regarding acceptable sources of funds;
- Provide current non-discrimination language; and
- Update terminology reflected in the new Single Family Housing Policy Handbook 4000.1.
“The comment period provides FHA an opportunity to hear directly from the industry,” said Principal Deputy Assistant Secretary Ed Golding. “We want to ensure we’re providing clear guidelines for what lenders are responsible for in a common sense way. Ultimately, we’re working to improve clarity in a manner that will be beneficial to lenders and borrowers alike.”
Interested parties may view a draft of the formatted proposed revisions on FHA’s Single Family Drafting Table web page. However, all comments on the proposed revisions must be submitted using the instructions found in the Federal Register Notice.
HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available on the Internet
at www.hud.gov and http://espanol.hud.gov.