source:
  type: guide
  id: hud-4000-1-iii-n-mortgage-insurance-premium-remittance
  authority: FHA Single Family Housing Policy Handbook 4000.1, Part III — n. Mortgage
    Insurance Premium Remittance (04/29/2024)
  description: FHA Single Family Housing Policy Handbook 4000.1, Part III — n. Mortgage
    Insurance Premium Remittance (04/29/2024).
  coverage_tier: operative
obligations:
- id: hud-4000-1-iii-n-mortgage-insurance-premium-remittance-full
  canonical_id: hud-4000-1-iii-n-mortgage-insurance-premium-remittance-full
  section: FHA Single Family Housing Policy Handbook 4000.1, Part III — n. Mortgage
    Insurance Premium Remittance (04/29/2024)
  type: do
  tags:
  - regulator-direct
  - fha
  - hud-handbook
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: FHA Single Family Housing Policy Handbook 4000.1, Part III — n. Mortgage
      Insurance Premium Remittance (04/29/2024)
    source_class: hud-handbook
    source_url: https://www.hud.gov/hud-partners/single-family-handbook-4000-1
    snapshot_id: 8c03836f77f317e1
    fetched_at: '2026-05-23T00:28:40Z'
    content_hash: sha256:411430f29b13f9b54a2ebb0e6f6e7087ecd2b90d0da22eb0c8c792eaa2d7d0df
    paragraph_quote: 'n. Mortgage Insurance Premium Remittance (04/29/2024) i. Definition
      Annual or Periodic MIPs refer to those MIPs that are remitted to HUD each month.
      ii. Standard The Mortgagee must remit one-twelfth of the annual MIP due to HUD
      each month by authorizing HERMIT to collect the full premium from the Mortgagee’s
      bank account. When payment is remitted, the Mortgagee must add the payment to
      the Borrower’s outstanding balance. If the HECM is transferred or sold to another
      Mortgagee, the transfer must be completed in HERMIT before the end of the month
      in order to ensure the MIP is remitted by the correct Mortgagee. III. SERVICING
      AND LOSS MITIGATION B. Title II Insured Housing Programs Reverse Mortgages 1.
      Servicing of FHA-Insured HECMs Handbook 4000.1 1466 Last Revised: 11/26/2025
      iii. Mortgage Insurance Premium Reports (A) Use of HERMIT The Mortgagee can
      access the Premiums Batch status in HERMIT to determine monthly collections
      of MIP after endorsement. (B) Reports of a Transfer or Sale The Mortgagee may
      confirm a transfer or sale of the HECM has been completed in HERMIT by reviewing
      the Status of Servicer Transfer Import File in HERMIT to ensure the MIP will
      be remitted by the correct Mortgagee.'
  judgment: false
