SHARE

August 25, 2022

HUD Announces Unique Entity Identifier Requirement for FHA Lenders

You've Reached Your
Free Article Limit This Month
Register for free to get unlimited access to all Law.com OnPractice content.
Register Now

Key Takeaways

  • The requirement must be implemented no later than December 31, 2022.

In Mortgagee Letter 2022-14 , dated August 23, 2022, the U.S. Department of Housing and Urban Development (HUD) announced a Unique Entity Identifier (UEI) requirement for Federal Housing Administration (FHA) lenders and mortgagees, and applicants for FHA approval.  The requirement must be implemented no later than December 31, 2022.

Existing FHA lenders and mortgagees under Title I or Title II  will need to provide a UEI as part of their institution data in the Lender Electronic Assessment Portal (LEAP), and applicants for FHA approval under such Titles will need to provide a UEI in their application. 

In the Mortgagee Letter, HUD explains that the "General Services Administration (GSA) has announced that all entities currently conducting or seeking to do business with the federal government must have a UEI registered in GSA's System of Award Management (SAM.gov). The UEI is an alpha-numeric identifier used by federal government agencies to maintain consistent name and address data about non-federal entities doing business with the government."

The Mortgagee Letter contains a link to a government website for entities to obtain more information on UEIs and to register for a UEI. 

HUD will accept feedback on the new requirement for 30 days from the date of the Mortgagee Letter

ALM expressly disclaims any express or implied warranty regarding the OnPractice Content, including any implied warranty that the OnPractice Content is accurate, has been corrected or is otherwise free from errors.

More From Ballard Spahr

New York Restricts Automated Decision Making in Employment

By Timothy Dickens Ballard Spahr August 29 , 2022

Businesses operating in New York City should be aware of a local law addressing the use of automated employment screening and decision-making tools coming into effect on January 1, 2023.

Status Update: Federal Contractor Vaccine Mandate Injunction Narrowed

By Lila A. Sevener Ballard Spahr August 29 , 2022

On August 26, 2022, the United States Court of Appeals for the Eleventh Circuit narrowed the nationwide injunction of Executive Order 14042, which requires federal contractors and employees who work on or in connection with a covered federal contract, or share a workplace with another employee who works on or in connection with such contracts, to be fully vaccinated against COVID-19.

Unions Cannot Force OSHA to Issue Permanent COVID Standard

By Shannon D. Farmer Ballard Spahr August 26 , 2022

On August 26, 2022, the U.S. Court of Appeals for the District of Columbia Circuit turned back efforts by a group of unions seeking to force the Occupational Safety and Health Administration (OSHA) to quickly issue a permanent rule establishing protections for healthcare workers from COVID-19.

More From Financial Services and Banking

Schedule A I-140: Fast-Track Green Card for Nurses and Physical Therapists

By Caterina Cappellari Greenberg Traurig May 26 , 2023

Most employment-based permanent residency applications require the applicant to go through the PERM labor certification process where the U.S. Department of Labor (DOL) certifies that there are not sufficient U.S. workers able, available, and qualified to fill a position.

Supreme Court Issues Decision Sharply Limiting Clean Water Act Jurisdiction over Wetlands

By Bernadette M. Rappold Greenberg Traurig May 26 , 2023

Sometimes the most monumental Supreme Court decisions spring from the most modest facts.

UK Imposes New Russia Sanctions on 86 People and Companies, Including Metal and Diamond Industries

By Annabel Thomas Greenberg Traurig May 24 , 2023

The UK announced on May 19 a new wave of sanctions against Russia with the aim of increasing pressure on President Putin.

Featured Stories
Closeclose
Search
Menu

Working...