www.hudclips.org 


U. S. Department of Housing and Urban Development
Washington, D.C. 20410-8000

July 8, 1994
OFFICE OF THE ASSISTANT SECRETARY
FOR HOUSING-FEDERAL HOUSING COMMISSIONER
Mortgagee Letter 94-32
     TO:  ALL APPROVED MORTGAGEES
     SUBJECT:  Addendum to the Single Family Insurance Premium Payment
                 Information Package
 
          In April 1994, the Department added the capability for the
     electronic remittance of late and interest charges.  This feature
     was added to the existing options for transmitting upfront
     mortgage insurance premium funds and data with the use of an
     "Automated Clearing House" or ACH facility.
 
          While adding the feature mentioned above, the Application
     for HUD Single Family Premiums ACH Programs (Attachment A) was
     also revised.  Attachment A, will be the set-up form for
     "Upfront" premium remittance, Attachment B, for "Risk Based"
     premium remittance and Attachment C, for "530" premium
     remittance.  In addition, HUD will require verification of
     banking information to be submitted with the applications.
 
          Enclosed with this Mortgagee Letter is information on how to
     remit late and interest charges and the revised ACH applications.
     These attachments are addendums to the Single Family Premium
     Payment Information Package, Mortgagee Letter 94-9 .
 
          We welcome your comments and suggestions that would enhance
     the electronic transfer of upfront mortgage insurance premiums.
     For additional information on the use of this facility please
     contact the ACH Outreach Team on (703) 845-4991.
 
Sincerely yours,
 

Nicolas Retsinas
Assistant Secretary for Housing
- Federal Housing Commissioner
 
     Enclosures
 
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Company 00027 - Late Charge and Interest Only (Use for the remittance of
late charges and interest for purchase and refinance loans.)
 
                                                             Field Length
 
FIELD # - FIELD NAME                                        Min        Max
 
          1 - FHA CASE NUMBER:                              10         10
 
          2 - CLOSING DATE:                                  6          6
 
          3 - MORTGAGE TYPE (display only):                  0          1
 
          4 - TERM OF MORTGAGE /1:                           1          1
 
          5 - PERCENT FINANCED:                              1          3
 
          6 - PREMIUM AMOUNT (display only):                 0          0
 
          7 - LATE CHARGE:                                   0          5
 
          8 - INTEREST:                                      0          5
 
          9 - TOTAL AMOUNT (display only                     0          0
 
     All supplemental data entry fields are numeric.  For company 00027 the
     fields 6 and 9 will be calculated by the system.  If the deposit
     amount entered after the unit number does not equal the total amount
     in field 9, an error message will appear and instruct you to re-enter
     the deposit amount.
 
          Note:  Company 00027 was designed for the remittance of late
          charges and interest only.  This screen may not be used to
          transmit premiums or additional premiums.
 
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                                                            ATTACHMENT A
 
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     Sign-up Form for HUD Single Family Upfront Premiums ACH Program
 
     UP-FRONT PREMIUM REMITTANCE COMPANIES
 
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                                                            ATTACHMENT B
 
___________________________________________________________________________
 
     Sign-up Form for HUD Single Family Upfront Premiums ACH Program
 
     RISK BASED MONTHLY REMITTANCE COMPANY
 
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                                                            ATTACHMENT C
 
___________________________________________________________________________
 
     Sign-up Form for HUD Single Family Upfront Premiums ACH Program
 
     530 MONTHLY PREMIUM REMITTANCE COMPANY
 
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