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h. Operating Loss (09/20/2021)
A Notice of Material Event must be submitted to FHA within 30 business days of the end of each fiscal quarter in which a Mortgagee experiences an operating loss of 20 percent or greater of its net worth.
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I. DOING BUSINESS WITH FHA A. FHA Lenders and Mortgagees (09/20/2021)
7. Post-approval Changes
Following the initial notification, the Mortgagee must submit financial statements every quarter until it shows an operating profit for two consecutive quarters, or until it submits its financial reports as part of its recertification, whichever period is longer.