P260 Transition
In 2010, a new system will be implemented for tracking HUD's REO properties. This new system is called P260. Part of this new system is a portal for Lenders to upload information such as pre-conveyance requests and scans of title documents.
Links to the new P260 Lender Portal
Live Sites - you can use the link for your time zone or you can use a different one if you want to - they all have the same functionality.
Click here to go to the Live Portal Site for Eastern Time Zone Users
Click here to go to the Live Portal Site for Central Time Zone Users
Click here to go to the Live Portal Site for Mountain Time Zone Users
Click here to go to the Live Portal Site for Pacific Time Zone Users
Finding Cases in P260
Click here for a Document on How to Find a Case in the P260 Portal
Click here for a short Video on How to Find a Case in the P260 Portal
Browser Comparability Information
P260 requires Internet Explorer 7 or greater. The IE option "Check for newer versions of stored pages" should be set to "every time I visit the webpage". IE should also be setup to allow pop-ups for the yardi.com domain.
Click here for more information on these IE settings.
HUD Announcement - May 11, 2010
Procedure for FHA Case Numbers not Available in P260
HUD would like to notify Mortgagees of the new procedure to provide a Point of Contact to your service providers and vendors in identifying and correcting the reporting errors that may delay or otherwise prevent you from receiving approval to convey properties to HUD.
Several Mortgagees, Field Service and Title vendors have notified HUD of FHA case numbers not found in the P260 Portal. We recognized this problem early on and have made adjustments to our download into the system. However, HUD continues to receive inquiries about loans still not found in P260.
After in-depth research, we have concluded there are multiple reasons why loans are not reporting in the P260 Portal, including:
- Mortgagees are not reporting correct and accurate loan status codes in the Single Family Default Monitoring System (SFDMS)
- FHA insurance is listed as "not insured" or "terminated"
- The holder or servicer ID is incorrect
- The Mortgagee has transferred servicing to another entity but continues to report, thus dual reporting occurs
- Vendors who work with multiple Mortgagees are logging in with one P260 ID but looking for a loan serviced by another Mortgagee (i.e. the vendor user has logged in with their ID for Bank of America but they are searching for a Wells Fargo case in P260)
Since the release of Mortgagee Letter 2010-16 in April 2010, which introduced the P260 Portal and the requirement that all Pre-Conveyance activity must be submitted through the portal, it is critical for Mortgagee reporting to be correct.
Note: The MCM has not been authorized to grant time extensions for pre-and-post conveyance activities due to incorrect reporting. Additionally, it remains the responsibility of the Mortgagee to ensure preservation and protection of the property asset regardless of whether the loan is in the P260 Portal.
As a Mortgagee, it is critical for you to reach out to your vendors and provide them with a point of contact in your organization to work with as these issues arise within your portfolio. It is important to keep them abreast of reporting corrections and advise them of a timeframe in which the loans should appear in the P260 Portal. The NSC is referring vendors back to your organization since it is your responsibility for correcting reporting problems.
If you need assistance with SFDMS reporting, please send an e-mail to the NSC's Reporting Department at sfdatarequest@hud.gov
Technical Support for P260
Contact the Yardi Help Desk
By phone - 805-699-2053.
By email - hudhelp@yardi.com -
In your email, please include the best telephone number to contact you at since the Help Desk often calls users in response to their email requests.
The Help Desk will be staffed during the hours of 9am to 5pm ET.
The Yardi Help Desk can answer questions relating to the operation of the Portal web site.
Contact the lender SuperUser to gain access to the portal.
Questions pertaining to HUD policies or requirements for the information entered into the portal should be directed to HUD or Michaelson, Connor & Boul, Inc.
Documentation
P260 Lender Portal Overview Powerpoint
MCM Lender Portal - Mortgagee Portal User Guide
MCM Lender Portal - Mortgagee Portal SuperUser Guide
MM3 Pre-conveyance diagrams
Putting Several Photos in One Attachment
Word 2007 Template for putting Several Photos in One Attachment
Training Videos
Attachement overview
MCM Lender Portal - Preconveyance Request- Extention of Time - Screen capture with narration
MCM Lender Portal - Preconveyance Request- Overallowables - Screen capture with narration
MCM Lender Portal - Preconveyance Request- Surchargable Damage - Screen capture with narration
Webinar Recording
Click here to play a recording of the webinar held on 3/18/2010 using the Go To Meeting webinar sevice.
This is a 85mg WMV file that should play in Windows Media Player - it might take awhile to download.
Information from HUD on this transition - April 2010
At the recent MBA conference in California, the Department announced that it has centralized its Mortgagee compliance functions into a single point of contact, designated as the Mortgagee Compliance Manager (MCM). The Mortgagee Compliance Manager implements the first phase of the new M&M III environment. The MCM was awarded to Michaelson, Connor & Boul, Inc. (MCB) whose office will be located in Oklahoma City. The MCM will be responsible for pre-and-post conveyance activity, including: verification and approval of reimbursable expenses for preservation and protection; title reviews; request for time extensions; inspection audits; and ensuring conveyed properties meet FHA standards.
-- Click here to go to the HUD MCM site
With the consolidation of Mortgagee compliance functions, HUD would like to introduce the department's new on-line, web-based Internet Portal, P260. This portal will eliminate the need for Mortgagees to submit paper requests for pre-and-post conveyance activities to HUD.
Lenders are required to attend one of the training sessions since the use of the P260 system is required under the new MCM structure. You may sign-up for the webinar on this page.
Each lender must designate a "SuperUser" within their organization who will be responsible for setting up P260 access for staff handling pre-and post conveyance activities.
The effective date of the requirements for the MCM and P260 Portal presented in this communication will be April 7, 2010. Further information regarding the MCM and P260 Portal will be announced via Mortgagee Letter(s) which will be published shortly.
Please direct any questions to the National Servicing Center via email at MCMNSC@hud.gov
Feel free to contact
William Collins - GTR (405) 609-8466, william.i.collins@hud.gov
Amy Foster - GTM (405) 609-8487, amy.d.foster@hud.gov
Kathi Cheatham - GTM (405) 609-8489, nancy.cheatham@hud.gov
Michaelson, Conner, and Boul can be reached at:
4400 Will Rogers Parkway, Suite 300
Oklahoma City, OK 73108
(877) 517-4488 or (405) 595-2000
mcm-info@mcbreo.com
SuperUser Designation
The "SuperUser" at each organization will be responsible for setting up P260 access for the staff handling pre-and post conveyance activities.
Lenders should email info on their designated SuperUser to Michaelson, Conner & Boul, Inc. at:
mc@mcbreo.com
Please include the First Name, Last Name, Title, Email, Phone Number, Mortgagee Name, Mortgagee Address and Mortgagee Number for the SuperUser.
Webinars
There are not any currently scheduled.
Webinar Recording
-- Click here to play - this is a 85mg WMV file that should play in Windows Media Player
This was recorded during the webinar held on 3/18/2010 using the Go To Meeting webinar sevice.
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