ISN was awarded the Mortgagee Compliance Manager contract by the U.S. Department of Housing and Urban Development (HUD) in June 2015. We look forward to working with all stakeholders on the program. ISN oversees the conveyance process for FHA insured homes from mortgage lenders to HUD. ISN assists with the conveyance of homes with good and marketable title and to ensure the home has been properly maintained.
ISN reviews claims that are filed against FHA insurance funds considering two primary objectives:
- Ensure that the conveyance of the physical property is in compliance with HUD guidelines as well as the requirements contained in the Code of Federal Regulations.
- Audit expenses claimed by the mortgagee to confirm that expenses are accurate, reasonable and were actually incurred.
ISN processes approximately 70,000 different types of transactions each month that are submitted by the Mortgagees.
Examples of the types of transactions include:
- Overallowable Requests and Appeals
- Extensions of Time Requests and Appeals
- Surchargeable Damage Requests and Appeals
- Requests from Foreclosed Homeowners for Occupied Conveyance
- 27011-A Claim Reviews
- 27011-BCDE Claim Reviews
- Title Packages
- Post Conveyance Demands for HOA, Utility, Taxes or Damage Discovered at Conveyance
- Reconvey the Property Back to the Mortgagee as a Result of Title Issues or Damages
ISN will provide dynamic, easily accessible information on best practices, new developments, changes to Mortgagee Letters, and a question and answer (Q&A) portal to help facilitate transactions.
Our Contact Information
Local Phone: (405) 546-7500 Toll Free: (888) 619-7835 Fax: (405) 602-1520