Approximately
7,500 lenders are required to submit annual audited financial and compliance data
in order to demonstrate compliance with FHA mandatory net worth, liquidity and
other requirements.
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LASS
Update: HUD
approved Title I & II Nonsupervised Mortgagees and Loan Correspondents with
FYE on or after January 31, 2004 who have issued consolidated financial statements,
are required to electronically file their annual financial statements for recertification
using the Lender Assessment Subsystem (LASS). Where the nonsupervised mortgagee
or loan correspondent (lender) is a parent or subsidiary entity and the lender's
financial statements are audited as part of consolidated financial statements,
information on the lender's assets, liabilities and results of operation should
be included in the consolidating schedules within the footnotes of the consolidated
financial statements. The information for the lender on those consolidating schedules,
which do not include the cash flow statement, constitutes the financial information
to be submitted via LASS. |
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LASS
Points of Contact Auditors - For questions regarding Independent User
registration and Secure Systems access please continue to contact the REAC Technical
Assistance Center at (888) 245-4860 Lenders and Brokers - For FHA Connections
assistance please continue to contact your Home Ownership Center or email sfadmin@hud.gov.
Atlanta - (888) 696-4687 Philadelphia - (215) 656-0578 Denver -
(800) 543-9378 Santa Anna - (888) 827-5605 For all other LASS technical
assistance please contact the LASS technical support team at (202) 755-7400 Ext.
163 or email LASS@hud.gov.
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LASS
Goes Electronic
LASS (Lender Assessment Subsystem) is available for submissions of the audited
financial and compliance data required for annual FHA recertification. Lenders
can access LASS through the HUD FHA Connection and auditors can access LASS through
Secure Systems. Effective with fiscal year ending September 30, 2002 and after,
it is mandatory that audited financial and compliance data be submitted electronically
via LASS. More... |
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Enhancements
to the Exigent Health & Safety Pilot Website Released June 28, 2002. This release
of the EH&S; Pilot Website includes several updates implemented for the Office
of Housing. Please see the EH&S; Tips Sheet for helpful tips about this release.
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Need
help converting your financial statements to the LASS standard form? We have created
a financial data template "Line
Definitions Guide" that will help you understand the definition and
description of each line item on the LASS Financial templates.
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Unique
IPA Identifier (UII) and auditor validation of submission data required when
submitting audited financial information to REAC. Updated June 27,
2001
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Learn
how to register for an UII. | | | |
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