HUD Temporarily Suspends General Insurance and Special Risk Insurance Endorsement Authority for Selected Single Family, Multifamily and Title I Insurance Programs
|September 15, 2003|
Washington, DC – HUD announced in three seperate letters to lenders that it will temporarily cease endorsing any new single family mortgages and some mutifamily mortgages that are to be insured under either the General Insurance (GI) Fund or the Special Risk Insurance (SRI) Fund.
The temporary suspension is effective on or after September 16, 2003.
The action will remain in effect until the enactment of supplemental commitment authority for FY 2003 or new commitment authority for FY 2004. Lenders were advised that they should continue to submit loan manifest forms in a timely fashion in order to protect the ability to register the loans for insurance in the future.