HUD has released Mortgagee Letter 2006-30 titled,  Guidance on Handbook 4060.1 REV-2, FHA Title II Mortgagee Approval Handbook.

This mortgagee letter provides guidance on certain provisions in Handbook 4060.1 REV-2, issued August 2006.

Included in this Mortgagee Letter;

• Notice that FHA will not monitor the employees compensation reporting requirement (Paragraph 2-9(A)) until March 1, 2007.
• Guidance concerning origination of Home Equity Conversion Mortgages.
• Notice HUD has delayed  the requirement that underwriting and processing centers be registered as branch offices until its data systems are modified to collect the information.

Any questions or comments regaridng this Mortgagee Letter, should be directed to the Lender Approval and Recertification Division at (202) 708-3976 or via email at
FHALender@hud.gov.

To view the Mortgagee Letter in its entirety, please click here.