Implementation of The Privacy Act of 1974, as Amended; Amendment to Existing Systems of Records, Computerized Homes Underwriting Management System-Development of New System of Records, Loan Application Management System

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HUD is amending the Computerized Homes Underwriting Management System (CHUMS) to reflect changes to the following sections, which involve lenders and program administrators of Federal Housing Administrations (FHA) Mortgage Insurance Programs: first time homebuyers, Home Equity Conversion Mortgages for home owners, 203(k) for the rehabilitation of existing properties, Veteran Affairs certified FHA loans, and other FHA mortgage insurance programs. The changes to the amended system of records are to the "Purposes" and "Routine Uses of Records Maintained in the System" captions. Additionally, HUD proposes to provide notice of a new system, the Loan Application Management System (LAMS), which is expected to replace CHUMS. Both proposals reflect the present status of the information contained in the systems and new data sharing practices, as well as enhancements to improve program services. The existing scope, objectives, and business processes in place for this program remain unchanged. A more detailed description of the present system is contained in notice "Purpose" caption. This notice supersedes the previous notice published in the Federal Register for CHUMS on December 28, 2010 at