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Reconciliation

Questions and Answers

What is the purpose of the Reconciliation report file?

The Reconciliation report file provides information about your FHA cases that are not reconciled from the prior billing period.

Where can I retrieve my Reconciliation report files?

Reconciliation information is available through the FHA Connection or, for large volume lenders and service bureaus, through the Alternate Report Retrieval process (i.e., secure file transfer process).

Do you have access to the FHA Connection? If not, please refer to Mortgagee Letter 97-33 (July 24, 1997) for information about gaining access. After signing on to the FHA Connection, select Single Family FHA, followed by Single Family Servicing, then Monthly Premiums. Select the Retrieve Files button to access your files.

When can I retrieve my Reconciliation report files?

Reconciliation information for the prior billing cycle is available by the 17th of the month.

Can I retrieve Reconciliation report files from previous months?

Three months worth of the latest Reconciliation report files, including the current month's, are available from the FHA Connection.

What do I do with the Reconciliation report file? Should we indicate what should be changed and return it to HUD?

You should take appropriate action to correct whatever appears on your Reconciliation file. Do not return it to HUD with changes. 

My Reconciliation report file shows I have a discrepancy type M01: overpayment. What do I do to correct it?

The Single Family Premium Collection Subsystem-Periodic (SFPCS-P) Information Packet contains Reconciliation Report Scenarios for M01 Overpayments that outline common overpayment situations (including payments on invalid cases) and what you should do in each case. Review the reasons and compare to the case in question. If you are unable to resolve the discrepancy after researching your records and comparing to HUD's records, contact your Lender Representative. 

My Reconciliation report file shows I have a discrepancy type M02: underpayment. What do I do to correct it?

The SFPCS-P Information Packet contains Reconciliation Report Scenarios for M02 Underpayments that outline common underpayment situations and what you should do in each case. Review the reasons and compare to the case in question. If you are unable to resolve the discrepancy after researching your records and comparing to HUD's records, contact your Lender Representative. 

My Reconciliation report file shows I have a discrepancy type M20: payment for nonendorsed case. What do I do to correct it?

The SFPCS-P Information Packet contains Reconciliation Report Scenarios for M20 Payment for Nonendorsed Case that outline common situations showing payments on nonendorsed cases. (You should expect to see the payments you remitted for your nonendorsed cases; normally no action is required to "reconcile" these cases.) Review the reasons and compare to the case in question. If you are unable to resolve the discrepancy after researching your records and comparing to HUD's records, contact a Periodic Lender Representative.

My Reconciliation report file shows I have a discrepancy type M21: payment for non-billed case. What do I do to correct it?

The SFPCS-P Information Packet contains Reconciliation Report Scenarios for M21 Payment for Non-billed Case that outline common situations involving non-billed cases and what you should do in each case. Review the reasons and compare to the case in question. If you are unable to resolve the discrepancy after researching your records and comparing to HUD's records, contact a Periodic Lender Representative.