|HUD No. 20-210
HUD Public Affairs
December 16, 2020
FHA ACHIEVES FULL FHA CATALYST DIGITAL CLAIM SUBMISSION CAPABILITIES FOR SINGLE FAMILY FORWARD MORTGAGES
Latest FHA Catalyst: Claims Module expansion eliminates paper submission processes for all forward mortgage claim types
WASHINGTON - Today, the Federal Housing Administration (FHA) implemented additional functionality in its FHA Catalyst: Claims Module, achieving full, digital submission capabilities for all FHA Single Family Title II forward mortgage claim types and the elimination of manual, labor intensive paper-based claim submission processes for servicers of FHA-insured mortgages.
New claim types available in the module beginning today include electronic submissions for FHAâ€™s Claims Without Conveyance of Title (CWCOT) program, augmenting the programmatic streamlining made to this alternative conveyance method announced by FHA in July. Servicers submitting claims to FHA for insurance can now use the FHA Catalyst: Claims Module for all 17 Single Family forward mortgage claim types, including FHAâ€™s special COVID-19 National Emergency Standalone Partial Claim and other home retention claim types designed to help homeowners regain sustainable homeownership as they recover from the financial effects of the COVID-19 global pandemic.
â€śToday marks another milestone for FHAâ€™s technology modernization effort. The FHA Catalyst: Claims Module not only solved a great need for automation in one part of our operations, but it also served as the flagship module for our entire modernization strategy,â€ť said Assistant Secretary for Housing and Federal Housing Commissioner Dana Wade.
â€śIn one year, weâ€™ve eliminated over 1.5 million pieces of paper flooding FHA by implementing the FHA Catalyst: Claims Module,â€ť said Deputy Assistant Secretary for Finance and Budget Susan Betts. â€śThrough their work on FHA Catalyst, FHAâ€™s Finance and Budget Claims Processing Team addressed the document processing challenges that stemmed from a lack of technology.â€ť
â€śWith FHA Catalyst, we're able to rapidly deliver high value functionality at lightning quick speed. We are mapping the success of the claims module across the loan lifecycle and across FHA," said the Chief Digital Services Officer Arthur Chin.
In addition to forward mortgage claim submissions, today lenders and servicers participating in FHAâ€™s Single Family insurance programs can use FHA Catalyst modules for the electronic submission of case binders and appraisals, and for access to FHAâ€™s new automated underwriting system. Multifamily Accelerated Processing lenders can also use the FHA Catalyst: Multifamily Applications Module to electronically submit applications for FHA insurance on multifamily properties.
FHA Catalyst is FHAâ€™s multi-year technology modernization initiative and is supported by a $40 million appropriation from Congress. FHA Catalyst is a secure, flexible, cloud-based platform that provides a modern, automated system for use by lenders, servicers, and other FHA program participants, while enabling FHA to efficiently and effectively manage its programs and processes. Find out more about FHA Catalyst at https://fha.gov/fha-catalyst.html.