New Effective Dates for Transition to FHA Catalyst: Single Family Default Monitoring System Reporting Module
The effective dates of the transition of the Single Family Default Monitoring System (SFDMS) from FHA Connection (FHAC) to FHA Catalyst, updates and additions of default reporting error codes, and streamlining of the data elements, originally announced in HUD Mortgagee Letter 2021-21, have been revised. The original effective date for mortgagees’ requirement to report in the SFDMS module through FHA Catalyst or Electronic Data Interchange (EDI) and the required use of the updated/added default reporting error codes and data elements was December 1, 2021. WBK addressed Mortgagee Letter 2021-21 here.
HUD Mortgagee Letter 2021-30 delayed the effective dates for implementation of the FHA Catalyst: SFDMS Reporting Module and associated changes and required mortgagees to continue reporting defaults in FHAC until the transition. It further noted that the FHA Catalyst: SFDMS Reporting Module would not be available for use until the transition.
HUD Mortgagee Letter 2021-31 recently revised the effective dates. The new effective dates are as follows:
- Last day that mortgagees will have access to FHAC for default reporting is February 7, 2022. (On March 1, 2022, SFDMS reporting capabilities will move from FHAC to the FHA Catalyst platform.)
- Mortgagees must report in the SFDMS module through FHA Catalyst or EDI beginning on March 1, 2022.
- Updated Default Reporting Error Codes found in the SFDMS are effective March 1, 2022.
