Relief for Small HUD Lenders
On December 21, 2012, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2012-29. This letter eliminates the requirement for small HUD lenders (i.e. less than $500 million) to submit internal control and compliance reports from their external auditors.
The full letter can be read here.
For more information, please contact Jeff Skaggs or your BNN advisor at 1.800.244.7444.