FHA Mortgagee Letter on Reserve for Replacement Escrow Administration

The Federal Housing Administration sent a Mortgagee Letter that describes the procedures by which HUD will approve lender delegated reserve for replacement escrow administration. Lenders who wish to participate should submit a written request the Director of the Multifamily Asset and Counterparty Oversight Division, Department of HUD, 451 7th St. SW, Room 6151, Washington, DC 20410-8000 and to terry.g.clark@hud.gov.