Form HUD-92426 Multifamily Default Status Report

Multifamily
Default Status Report

U.S. Department of Housing
and Urban Development
Office of Housing
Federal Housing Commissioner

OMB Approval Nos. 2502-0041 (exp. 4/30/2007)

Mortgagees for all HUD’s multifamily insurance programs are required to notify HUD where a mortgage payment is more than 30 days past due. This
report triggers HUD's negotiation with the mortgagor, and an assignment of acquisition will result if HUD and the mortgagor do not plan for reinstating the
loan. This collection of information is authorized under Section 207 of the National Housing Act. The information is used to monitor mortgage compliance
with HUD loan servicing procedures and assignments and to avoid mortgage assignments. This information is required to obtain benefits. If information
is not collected HUD would not be able to monitor mortgagee compliance with the loan servicing and default prevention requirements. The information
is considered confidential. While no assurances of confidentiality is pledged to respondents, HUD generally discloses this data only in response to a
Freedom of Information request.
Public Reporting Burden for this collection of information is estimated to average 10 minutes per response, including the time for reviewing instructions, searching
existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This information is required to
obtain benefits. HUD may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB Control Number.
Part I — General Information
1. Date of Report

a-Initial Notice of Default
d-Election to Assign or Acquire

2. Purpose (check one)

3. Project Name

4. FHA Project Number

b-Update on Default Status
e-Withdraw Prior Election

5. Mortgagee Project Number

7. Mortgagee

8. Mortgagor and Management Agent

7a. Lender's Name

8a. Mortgagor Entity

c-Reinstatement
Insured
Coinsured

6. Sec. of Act

9. Principal Balance
$
10. Interest Rate

%
7b. Servicer's Name

11. Account Balances

8b. Management Agent

11a. Replacement Reserve
$
7c. Person to Contact

8c. Person to Contact

11b. Residual Receipts
$
11c. Other Reserves

7d. Contact Phone Number
Area Code
Telephone

–

8d. Contact Phone Number
Area Code
Telephone

–

–

$
11d. Misc. Escrow

–

$

Part II — Status of Default
1. Default Type (check)

7. Breakdown of Delinquency
Amount of
Delinquency
Item

Fiscal
Covenant

Regular Monthly
Payment

If yes, give date mortgage was reinstated.

2. Default Date

MM

DD

YYYY

3. Last Payment Received Date

MM

DD

$

MIP

$

$

Taxes

$

$

Special
Assessments

$

$

Insurance

$

$

Interest

$

$

Principal

$

$

Replacement
Reserve

$

$

Other

$

Total

$

MM

YYYY

5. Last Mortgagee Inspection Date

MM

DD

DD

YYYY

YYYY

6. Last Escrow Analysis Date

MM

DD

9. Mortgagee Generally Pays Between
1st thru the 5th
6th thru the 16th
17th thru the 30th or 31st

4. Amount of Last Payment

$

8. Default History
Has mortgage been in default before?
Yes
No

YYYY

$

0.00

0.00

On the initial report, attach a narrative describing: 1) cause of default; 2) prospects for reinstatement; and 3) any discussions you and the mortgagor have had
regarding the cause of default.
HUD Field Office Use Only. Identify the cause(s) of default. To do so, use the default codes shown in the MIDLIS Reporting Handbook. Enter a maximum of
three codes in order of importance. For covenant defaults, always enter “K” as the first code.
1

2

3

Previous editions are obsolete

Page 1 of 2

form HUD-92426 (12/86)
ref Handbook 4566.2

Part III — Status of Default

Part IV — Election/Withdrawal

This mortgage was reinstated on:
MM DD
YYYY

I Elect To: (Draw an “X” through one box.)

This mortgage was reinstated by:
(Draw an “X” through one box to indicate type).
RP

Payment of ......... $ ________________

RF

Modification effective on .... ___/___/___

RT

Correction of Covenant Default

LA

Assign this mortgage. I understand that the assignment must be recorded within 30 days after the
date of this form.

LF

Acquire this project through foreclosure. I understand that foreclosure proceedings must commence within 30 days (90 days for Section 608 mortgages) after the date on this form and that I
must notify you 30 days after foreclosure commences.

LD

Acquire through deed-in-lieu of foreclosure. A request for your approval is attached. (Note: HUD
approval is not required on coinsured loans.)

LW

Withdraw our prior notice of election to:

assign

acquire. That notice was dated:

_______/_______/_______

Part V — Mortgagee Signature

Part VI — HUD Acknowledgement of Receipt

Name

Name

Title

Title

Signature of Mortgagee Official

Date

Signature of HUD Field Office Manager

Date

Instructions for Completing Multifamily Default Status Report (Form HUD-92426)
A. General
Use this Form for the purposes shown in Part I, Item 2. Always
complete Parts I and VI. Complete Part II in all instances except when
you are reporting a reinstatement. Complete Parts III, IV and V only
when applicable.
1. Covenant Defaults. Use this Form to report covenant defaults
only if you have accelerated the mortgage. If you have not
accelerated the mortgage, report a covenant default by sending
a letter to the HUD Field Office.
2. Other Notices Not Covered by this Form. This Form applies
only to defaults, reinstatements and elections to assign a mortgage or acquire title to a property. Once you have filed a notice
of your election to assign or acquire, HUD's regulations and/or
administrative instructions require you to submit other notices
that are not covered by this Form. You must submit two copies of
each notice to HUD Headquarters' Office of Multifamily Housing
Management and one copy of each to the local Field Office's
Deputy Director for Management. You should mail the Headquarters copies by Certified Mail - Return Receipt Requested.
These notices include:
(a) Notice of Foreclosure. (Insured Mortgages Only) Within 30
days after instituting foreclosure proceedings, you must give
HUD written notice that you have commenced foreclosure.
(b) Notice of Delays in Starting or Completing Acquisition.
(Insured and Coinsured Mortgages) If you cannot meet the
deadlines for starting foreclosure, as stated in Part IV of this
Form, you must report this fact to HUD and explain the
reason for the delay. You must also report and explain any
delays in completing acquisition, whether by foreclosure or
deed-in-lieu.
(c) Notice of Acquisition. (Coinsured Mortgages Only) Within
30 days after you acquire title, you must inform HUD of the
acquisition.
B. Timing

1. Notice of Default. If a default continues for a period of 30 days,
you must submit this Form within 30 days thereafter, unless the
default is cured. For example, if a mortgagor does not pay the
March 1 and April 1 payments, you must submit this form by close
of business April 30.
(a) For fully insured mortgages you must continue to submit
this Form monthly until the mortgage has been reinstated or
you have filed an insurance claim.
(b) For coinsured projects, you must continue to submit this
Form monthly until the mortgage has been reinstated or until
the month after you have acquired the project. For example,
if you acquired the project on August 15, you must submit
default notices through September.
2. Notice of Reinstatement. Submit this Form within five calendar
days after the mortgage has been reinstated.
3. Notice of Election. Unless the HUD Field Office approves an
extension of time, you must submit this Form within 75 days after
the date of default, defined below.
4. Notice of Intention to File a Claim. When you submit your
Notice of Election to assign or acquire, you must declare whether
or not you intend to file a claim.
C. Date of Default (Part II, Item 2)
The date of default is the due date of the first unpaid payment, when
payments are applied in the order in which they come due. Example:
If an owner did not make the May and June payments but did make
one monthly payment on July 15th, the July payment would be
applied to the amount due for May and June 1 would be the date of
the default.
D. Distribution
1. Elections/Withdrawals. Send original and one copy to HUD
Headquarters, Office of Multifamily Housing Management. Send
one copy to the HUD Field Office having jurisdiction over the
project. HUD Headquarters will acknowledge receipt of the form
and return one copy to you.
2. All Others. Send original and two copies to the HUD Field Office
having jurisdiction over this Project. The HUD Field Office will
acknowledge receipt of the form and return one copy to you.

Previous editions are obsolete

Page 2 of 2

form HUD-92426 (12/86)
ref Handbook 4566.2