HUD Proposes New System to Streamline Lender Approval Process

Summary

The U.S. Department of Housing and Urban Development (HUD) is proposing to create a new electronic system, the Lender Electronic Assessment Portal (LEAP), to automate and streamline its lender approval and recertification process for the Federal Housing Administration (FHA). The new system will replace the existing HUD/FHA Lender Approval Files System of Records Notice (SORN) and will take full custody of the records currently maintained by HUD.