Questions and Answers
What is a late/interest adjustment?
Removal of late and/or interest charges that were assessed for late or missing Single Family monthly (periodic) mortgage insurance premiums for a specified case within a given period.
What are valid reasons for a late/interest adjustment?
The established criteria for the Department of Housing and Urban Development (HUD) to approve an adjustment are:
- Disaster conditions at lender or HUD site
- Transmission problem at HUD site
- System problem at HUD site
How can I get late/interest charges adjusted?
Send a request through e-mail to the Interest and Late Charge Review Committee in HUD's Single Family Insurance Operations Division. The request must include:
- Subject line of the e-mail message must include the lender ID and indicate the program type (Periodic or Upfront) Late/Interest Adjustment Request
- Lender name and ID
- Federal Housing Administration (FHA) case numbers of affected cases
- Reason for the adjustment
- Period for which an adjustment is to be processed (month(s) and year)
- Indication of whether the adjustment is for late, interest, or both
- Lender contact name, email, and telephone number
Upon request, you must submit documentation needed to support the late/interest adjustment.