HUD P260 Training

HUD has issued the following announcement regarding training on the department’s new on-line, web-based Internet Portal, P260.

At the recent MBA conference in California, the Department announced that it has centralized its Mortgagee compliance functions into a single point of contact, designated as the Mortgagee Compliance Manager (MCM).  The Mortgagee Compliance Manager implements the first phase of the new M&M III environment.    The MCM was awarded to Michaelson, Conner & Boul, Inc. (MCB) whose office will be located in Oklahoma City. The MCM will be responsible for pre-and-post conveyance activity, including: verification and approval of reimbursable expenses for preservation and protection; title reviews; request for time extensions; inspection audits; and ensuring conveyed properties meet FHA standards. 

With the consolidation of Mortgagee compliance functions, HUD would like to introduce the department’s new on-line, web-based Internet Portal, P260.  This portal will eliminate the need for Mortgagees to submit paper requests for pre-and-post conveyance activities to HUD.  Lenders are required to attend one of the training sessions since the use of  the P260 system is required under the new MCM structure. 

You may sign-up at:  http://support.yardi.com/hudtraining_mm3_lenders.asp

HUD has provided several opportunities for your organization to become familiar with this new web-based tool. Mortgagee user training on the new P260 system will be held on the dates listed below.  All training sessions will be held at  11:00am (PST), 12:00pm (MST), 1:00pm (CST), 2:00pm (EST).

Week 1:  March 11th & 12th
Week 2:  March  16th, 17th, 18th
Week 3:  March 24th and 25th  

In addition to registration information, this website also provides Portal User Guides and training videos which recap the online training webinars.  

Each lender must designate a “SuperUser” within their organization who will be responsible for setting up P260 access for staff handling pre-and post conveyance activities.  

The effective date of the requirements for the MCM and P260 Portal presented in this communication  will be April 7, 2010.  Further information regarding the MCM and P260 Portal will be announced via Mortgagee Letter(s) which will be published shortly. 

Please forward this e-mail to appropriate Preservation, Conveyance and Foreclosure contacts within your organization if they did not receive this communication.

NSC can answer any questions you may have.  Feel free to contact William Collins – GTR (405) 609-8466, william.i.collins@hud.gov;  Amy Foster – GTM (405) 609-8487, amy.d.foster@hud.gov; or  Kathi Cheatham – GTM (405) 609-8489, nancy.cheatham@hud.gov

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 700 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.
OneCommunity

Stay informed about the latest industry news and events with our All Client Alert email newsfeed.

Ask The CEO

Got a question about Safeguard in the industry? Let us know in our Ask the CEO online Q&A section.