Very Broad and Very Fast: The New Federal Housing Administration’s 12-Hour Cyber Incident Notification Rule
Debevoise Data Blog
MAY 27, 2024
On May 23, 2024, the U.S. Department of Housing and Urban Development (“HUD”) announced that, effective immediately, Federal Housing Administration (“FHA”)-approved Mortgagees are subject to a drastically heightened cybersecurity incident reporting regime. HUD issued this new requirement (the “HUD Notification Requirement”) without the need for notice or comment in Mortgagee Letter 2024-10 (the “Letter”), which amends the Single Family Housing Policy Handbook 4000.1 (the “Handbook”) to require F
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