Lender Assessment Overview--Detailed Guide

Lender Assessment

Overview

The Lender Assessment Subsystem (LASS) is an electronic system to allow lenders to submit required annual audited financial data and other audit information to demonstrate compliance with FHA mandatory certification and recertification requirements in reporting net worth, liquidity, and other information. As of September 30, 2002, it is mandatory that this audited data be submitted electronically via LASS.

Information resources to assist in this process, may be found:

• in the Frequently Asked Questions on LASS policy and
• in the Frequently Asked Questions on LASS system which provides links to general information and instruction guides for LASS lenders, LASS auditors, and LASS application coordinators.

Refer also to the Independent User Registration information applicable to LASS users and the Application Coordinators who assist them.