FHA Single Family Housing Policy Handbook 4000.1, Part I — h. Operating Loss (09/20/2021)

hud-4000-1-i-h-operating-loss

FHA Single Family Housing Policy Handbook 4000.1, Part I — h. Operating Loss (09/20/2021).

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  authority: FHA Single Family Housing Policy Handbook 4000.1, Part I — h. Operating Loss (09/20/2021)
  description: FHA Single Family Housing Policy Handbook 4000.1, Part I — h. Operating Loss (09/20/2021).
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      paragraph_quote: h. Operating Loss (09/20/2021) A Notice of Material Event must be submitted to FHA within 30 business days of the end of each fiscal quarter in which a Mortgagee experiences an operating loss of 20 percent or greater of its net worth. Following the initial notification, the Mortgagee must submit financial statements every quarter until it shows an operating profit for two consecutive quarters, or until it submits its financial reports as part of its recertification, whichever period is longer.

Verbatim regulatory text (1)

Verbatim provisions from FHA Single Family Housing Policy Handbook 4000.1, Part I — h. Operating Loss (09/20/2021) — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

FHA Single Family Housing Policy Handbook 4000.1, Part I — h. Operating Loss (09/20/2021)

h. Operating Loss (09/20/2021) A Notice of Material Event must be submitted to FHA within 30 business days of the end of each fiscal quarter in which a Mortgagee experiences an operating loss of 20 percent or greater of its net worth. Following the initial notification, the Mortgagee must submit financial statements every quarter until it shows an operating profit for two consecutive quarters, or until it submits its financial reports as part of its recertification, whichever period is longer.

Source: FHA Single Family Housing Policy Handbook 4000.1, Part I — h. Operating Loss (09/20/2021) · source URL · snapshot 8c03836f77f317e1