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, email@example.com; Amy Foster – GTM (405) 609-8487, firstname.lastname@example.org; or Kathi Cheatham – GTM (405) 609-8489, email@example.com.
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