What is the definition of a small supervised mortgagee?

A Small Supervised Mortgagee is a Supervised Mortgagee that has consolidated assets below the threshold for audited financial reporting established by the Federal Banking Agency with oversight of the Mortgagee. Thresholds are codified at 12 CFR 363.1(a), 562.4(b)(2), and 715.4(c), and are subject to change.

The Electronic Code of Regulations (e-CFR) is available at http://www.ecfr.gov/cgi-bin/ECFR?page=browse.

For additional information see Handbook 4000.1 I.A.2.a.i.(B) available at http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/handbooks/hsgh.