The Federal Housing Administration (FHA) on Monday announced a series of updates to its case binder software module, “Catalyst”, which implement so-called “various enhancements” to improve the speed, accuracy and security of the system. This is evident from an FHA information notice distributed to RMD.
“These enhancements allow mortgages to respond faster, more securely, and more accurately to the FHA’s request for electronic file folders while receiving updates on filing status,” FHA said in its update notice.
Among the updates, FHA added a new drop-down menu to the submission type and location options, adding a “different” option to the case binder submission type and a “HUD-HQ” option to the location options. These options can be used by the US Department of Housing and Urban Development (HUD) to “request a case folder for an administrative purpose that does not fit into existing drop-down categories and to determine the location of the person requesting the case folder” , Explains FHA.
This allows the submitting mortgage borrower to indicate why a case folder is being submitted in more detail and where it should be routed within the FHA Catalyst system.
There are also new updates to the types of notifications mortgages can receive while using the module, including a warning if a virus scan fails at the time the case binder is uploaded and if the system applies a hard stop then a message will appear if The file name of the Fallbinder exceeds the character restrictions that prevent the file from being uploaded, ”said the information notice.
In addition, mortgages are advised to keep all appropriate contact information up to date on both the LEAP (Lender Electronic Assessment Portal) and FHA Connection (FHAC) as all mortgages may receive emails regarding requests from FHAC to upload case ties when Keeping the contact information up to date ensures that these communications are received as they are sent.
Read the FHA outline of the applicable changes in FHA INFO # 21-30 at the HUD.