www.hudclips.org 


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

 
OFFICE OF THE ASSISTANT SECRETARY
FOR HOUSING-FEDERAL HOUSING COMMISSIONER
 
July 16, 1997
 
MORTGAGEE LETTER 97-30
 
TO: ALL APPROVED MORTGAGEES
 
SUBJECT: Registering FHA-insured Loans with Mortgage Electronic
Registration System, Inc. (MERS)
 
This Mortgagee Letter is to provide information regarding registering
FHA-insured loans with MERS. The Department will permit HUD-approved
mortgagees to register their FHA-insured loans with MERS, provided the
mortgagees continue to comply with all Departmental regulations, reporting
requirements and other established policies.
 
Mortgagees will continue to be responsible for informing FHA of any changes
related to the mortgage such as change of holder/servicer, foreclosure
initiation and terminations.
 
To maximize opportunities to mortgagees, the Department is looking into the
possibility/advantages of accepting certain types of information from MERS
rather than having the mortgagee report directly to the Department.
 
Sincerely yours,

Nicolas P. Retsinas
Assistant Secretary for Housing-
Federal Housing Commissioner