All FHA-approved lenders are required to submit their audited financial statements through the Lender’s Electronic Assessment Portal (LEAP) within 90 days of the close of their fiscal year.
The FHA has now extended the 90-day filing period for audited financial statements to April 30 for all approved lenders whose financial statement reporting period ended Dec. 31, 2019. While there is an additional 30-day window, lenders that can submit their audited financial statements before April 30 are still encouraged to do so.
All LEAP recertification submissions must be based on the signed issued paper copy of the audit of the lender’s financial statements, supplemental information and the signed independent auditor’s report containing the auditor’s opinion. A signed hardcopy of these financial statements, as well as the supporting information and the signed independent auditor’s report(s), must be submitted electronically.
We will continue to communicate any additional updates we receive from the FHA.