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FHA launches new partial claim payoff portal

The Federal Housing Administration (FHA) announced on Thursday the launch of a new portal for the Department of Housing and Urban Development’s Single Family Mortgage Asset Recovery Technology (SMART) system.

The streamlined SMART portal allows borrowers and servicers to request payoff amounts in real time for FHA partial claims or subordination checklists, which are used to refinance FHA loans.

Additionally, the portal can be used by third parties, including title companies, originating lenders, and attorneys acting on behalf of borrowers and title companies, the administration said.

The launch of this new portal may be a signal that the FHA — after what seems details ⇒

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