FHA’s Lender Electronic Assessment Portal (LEAP) version 3.0 was deployed on May 27, 2014. All of FHA’s approximately 2,900 approved lenders will now use LEAP for their annual recertifications, and to execute post-approval business updates and changes. Mortgagee Letter 2014-09, published on May 27, 2014, provides more information regarding these processes. The Mortgagee Letter provides specific information on the following FHA-required actions and activities that mortgagees must now execute using LEAP:
- FHA’s Annual Recertification Process
- Post-approval Updates and Business Changes
Please note: Lenders with a December 2013, January 2014, or February 2014 fiscal year end must complete all recertification steps in LEAP no later than 30 days from system deployment. The recertification due date for all other lenders remains 90 days after each lender’s fiscal year end, and all lenders still have at least 30 days from the deployment of LEAP 3.0 to complete their recertifications.
Please reference the documents below for additional information regarding the transition to LEAP 3.0.
LEAP Transition Information
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