HUD has centralized its Mortgagee compliance functions into a single point of contact, designated as the Mortgagee Compliance Manager (MCM) (see Mortgagee Letter 10-16 for further information). The installation of the Mortgagee Compliance Manager is the first phase implemented under the new M&M III property disposition procedures. ML 10-16 also introduced HUD's Internet portal, P260. Under M&M III, all documentation related to Mortgagee compliance must now be electronically scanned and uploaded into P260. ML 2015-23 introduced HUD’s new Mortgagee Compliance Manager, Information Systems Networks, Corp., (ISN) and provided the contractor’s mailing address and contact information.
Mortgagees - HUD uploads FHA cases to P260 once a month on the first Sunday following the 15th of every month. Only FHA cases that are being reported correctly to SFDMS that are at least 60+ days delinquent and are actively insured are included in the data upload. It is each servicer’s responsibility to accurately report to HUD’s SFDMS system to ensure all appropriate cases are included in each monthly download. For additional information concerning cases not in P260, please click the following link: “P260 Case Research”.
As a reminder for P260 access:
Mortgagees - You will be required to be the primary SuperUser and to set up access for any vendor or agent you use in managing your Property Preservation & Protection work. Per the instructions and requirements under ML 2009-42, the Mortgagee remains fully responsible for proper servicing as the actions of the servicer/agent will be considered to be the actions of the Mortgagee. You may assign your vendor/agent a SuperUser status in the P260 Portal and, in turn, they will have the access needed to set up their staff assigned to your company's preservation work.
Vendors/Agents - Your lender must give you access to the P260 Portal. Your access can be that of a SuperUser so you may provide access to your staff. Additionally, you must have a separate login for each lender you represent or for which you need access into the P260 Portal.
Information Systems Networks, Corp., (ISN) can be reached at:
Shepherd Mall Office Complex
2401 NW 23rd Street, Suite 1D
Oklahoma City, OK 73107
Toll Free: (888) 619-7835
FAX: (405) 602-1520
ISN Customer Service
Reconsideration/Rescission Requests - Demands/Reconveyances
Re-Acquisition (return a property to HUD inventory)
Notification of Violations
HECM (Reverse Mortgages) Overallowables