The Federal Housing Administration is extending its timelines for lender recertification for certain Title I and Title II lenders and mortgagees.
The agency has announced that due to some difficulties relating to the Lender Electronic Access Portal 3.0 system, it is extending the deadlines for recertification packages accordingly. For those submitting financial information and annual renewal fees previously due June 30, 2014, the deadline has been extended to July 15.
The extensions are available for Title I and Title II lenders and mortgagees with fiscal years ending December 31, 2013; January 31, 2014; February 28, 2014; and March 31, 2014.
The administration also noted it will be working through problems associated with LEAP 3.0 immediately.
“FHA understands that some users are having difficulty executing certain functions in LEAP 3.0, and has extended the deadline accordingly,” the administration said in a notice to lenders. “FHA is working diligently to resolve these issues so that LEAP may operate at its full capacity as quickly as possible.”
Written by Elizabeth Ecker
