HUD has announced that Lender Electronic Assessment Portal (LEAP) will go-live on May 9, 2014. Re-certification deadlines for Lenders with a December 31, 2013 year-end would automatically be extended 30 days after the go-live date; therefore, Lenders will have until June 9, 2014, in order to provide them with 30 days of system access to complete the process. Additionally, individual extensions have been granted to Lenders with January 31, 2014 and February 28, 2014 year-ends, since the go-live date will occur after the annual re-certification deadline. Lenders with a March 31, 2014 year-end re-certification deadline will revert back to the normal 90-day submission deadline.
Additional information and webinars about the updated LEAP system and annual re-certification process can be found on the HUD website or by contacting FHA’s Resource Center at firstname.lastname@example.org or 1-800-CALLFHA (1-800-225-5342).