Regulation & law · 20/10/2014

HUD Amends Computerized Homes Underwriting Management System to Reflect Changes in FHA Mortgage Insurance Programs

The U.S. Department of Housing and Urban Development (HUD) is amending the Computerized Homes Underwriting Management System (CHUMS) to update its systems of records and reflect changes to various FHA mortgage insurance programs, including those for first-time homebuyers, Home Equity Conversion Mortgages, and 203(k) rehabilitation loans. The changes aim to improve program services and enhance data sharing practices, with a proposed replacement system, the Loan Application Management System (LAMS), expected to be implemented in the future.