Credit Watch Program

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Mortgagee Letter 99-15, Mortgagee Approval for Single Family Programs - Clarification of Procedures for Terminating Origination Approval Agreements and Placement in Credit Watch Status - Superceding Mortgagee Letter 95-37, advises that HUD/FHA will be using its regulatory authority to terminate lenders' authorization to originate single family loans or, alternatively, place lenders on Credit Watch Status (an evaluation period) in geographic areas where the lender has a high rate of early defaults and claims. However, the placement of lenders on Credit Watch Status was eliminated per Mortgagee Letter 01-23.

Read Mortgagee Letter 99-15 in detail.

Mortgagee letter 01-23 announces the elimination of the placement of mortgagees on Credit Watch status.

Mortgagee Letter 02-20 announces the implementation of a reduction in the threshold for the Credit Watch Termination initiative.