on behalf of hud the fha welcome to our session on how to manually underwrite an fha mortgage n.
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On Behalf of HUD & The FHA Welcome to our session on How to Manually Underwrite an FHA Mortgage. Housekeeping Phone lines ~ Q&A ~ Polling Activities. Phone lines – muted Questions – chat panel Interactivity – voting tools and polling questions. 2. Your Instructor. Judy Nash-Ellis.

I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
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Phone lines ~ Q&A ~ Polling Activities

  • Phone lines – muted
  • Questions – chat panel
  • Interactivity – voting tools and polling questions


your instructor
Your Instructor

Judy Nash-Ellis


fha subject matter expert
FHA Subject Matter Expert

Welcome to our guest, Lisa Ellis, Credit Policy Specialist from FHA, Office of Single Family Program Development - who will be responding to participant questions and offering additional guidance during today’s webinar



Polling Questions

How long have you been in the mortgage industry?

How long have you been working with FHA mortgage loans?


hud s mission
HUD’s Mission


  • Create affordable homes for all.
  • Work to strengthen the housing market.
  • Bolster the economy and protect the consumer.
  • Improve the quality of life for all free from
  • discrimination.
  • Transform the way HUD does business
course objectives
Course Objectives


  • Know policies and processes to manually underwrite
  • an FHA mortgage loan application.
  • Explain which transactions require a manual underwrite.
  • Describe the manual underwrite documentation
  • requirements.
  • Analyze/determine acceptable credit risk for an FHA
  • loan endorsement:
      • Recognize compensating factors in making an
      • overall risk decision on a loan.
  • Resources:
  • HB 4155.1 - http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/handbooks/hsgh/4155.1
  • TOTAL Scorecard User Guide - http://portal.hud.gov/hudportal/documents/huddoc?id=total_userguide.pdf
  • Mortgagee Letters - http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/letters/mortgagee
course overview
Course Overview
  • LTV Requirements
  • Income Documentation
  • Cash Investment Requirements
  • Asset Documentation
  • Required Reserves
  • Ratios
  • Compensating Factors
  • Credit
  • Major occurrences
  • Last 24 months
  • Short Sales
  • Previous bankruptcy or foreclosure
  • Collections
  • Consumer Credit Counseling
  • Mortgagee Letter 2013-5
  • LDP/GSA Requirements
  • CAIVRS Requirements
  • LDP/GSA Details
  • CAIVRS Details
  • Manual Underwrite


when is manual underwriting required
When is Manual Underwriting Required?


When a loan receives a Refer through TOTAL?

When a loan cannot be scored through TOTAL due to insufficient credit or other factors?

When a downgrade is required where there is additional information not considered through TOTAL or documentation requirements per the TOTAL findings

cannot be met?

D. Streamline refinancing?

E. All of the above.



E. All of the above.

manual underwrite1
Manual Underwrite


  • A Refer from TOTAL.
  • Downgrade to a Refer.
  • Streamline refinances, credit and income review and documentation not required.
  • DE Underwriter will review and document the file:
      • Credit, Income, & Assets
      • MPS & MPR.


  • Follow the Hierarchy of Credit Review (HB 4155, Chapter 4 C. ):
    • 1st: Previous housing expenses INCLUDING utilities.
    • 2nd: installment debts.
    • 3rd: revolving debts.
credit scores
Credit Scores

When a credit score is available, it must be used to determine

eligibility for FHA insured financing.

Decision Credit Score:

Credit Score Used.

Credit Report Reflects:

Three credit scores (one from each repository) - the

middle score is used.

Two credit scores - the lower of the two scores is used.

One credit score - that score is used.


credit scores cont d
Credit Scores Cont’d …


  • Case Numbers Assigned on or after 10/04/10:
    • When the decision credit score is: • 580 and above: Maximum financing. • 500-579: Maximum LTV 90.00%. • 499 and below: Not eligible for FHA insured financing.
    • Does not apply to:
      • HECM.
      • Title I.
      • Sections 247, 248, 223(e) and 238.
      • Resource: ML 10-29:
  • http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/10-29ml.pdf


  • Review credit for the past two years.
  • Overall review of entire reported accounts:
    • Items over two years and not major should not be considered.
    • Major indications of derogatory credit, such as a judgment, bankruptcy and foreclosure. All require sufficient written explanation.
  • Accounts reviewed for patterns of delinquency:
    • Disregard for financial obligations.
    • Inability to manage debt.
    • Factors that are beyond the borrower’s control.
    • Issue was isolated.
  • All explanations must make sense and be consistent.
  • Most situations will need documentation to support decision.
credit cont d
Credit Cont’d …


  • Housing payment must be documented:
    • Credit Report.
    • Verification of Mortgage.
    • Verification of Rent:
        • Identity of Interest transactions require more documentation.
    • Review of canceled checks for past
    • 12 months.
    • Letter rent free.
credit cont d1
Credit Cont’d …


  • Major items:
    • Judgments.
    • Tax Liens.
    • Collections and Charge-offs.
    • Bankruptcy.
    • Short Sales.
    • Consumer Credit Counseling.


  • Court-Ordered Judgments must be
  • paid off:
    • Unless – Acceptable Repayment.
  • Repayment Plan with Creditor:
    • Agreement with creditor to make regular and timely payments.
    • Payments made according to agreement.
    • Payment must be included in Ratios to qualify.
tax liens
Tax Liens


  • IRS routinely takes second position
  • May remain unpaid if lien holder subordinates.
  • If in a repayment plan, include in qualifying ratios.


Reference: Handbook 4155.1 4.C.2.d.

  • Delinquent credit that has NOT
  • gone to court.
  • Not required to be paid in full.
  • Borrower must explain in
  • writing, all collections.


  • Chapter 13:
    • Repayment of some or all debt.
  • Chapter 7:
    • Discharges all debt.
chapter 13 requirements
Chapter 13 Requirements


  • 12 months of payments.
  • Permission to enter mortgage transaction.
  • Complete copy of bankruptcy paperwork.
chapter 7 requirements
Chapter 7 Requirements


  • Two years since DISCHARGE.
  • Extenuating circumstances - Over one year from DISCHARGE.
bankruptcy scenario
Bankruptcy Scenario


  • Tom and Betty Jones filed for
  • Chapter 7 Bankruptcy which was
  • discharged in August 2010.
  • Are they eligible for an FHA
  • loan?


Yes. The borrower is eligible for an FHA loan since the

bankruptcy was discharged more than two years ago.



  • Occurs when a borrower cannot pay the mortgage payment over a period of time.
  • Borrower must wait three years before they are eligible for FHA financing, starting from the date the borrower lost control of the property.
  • A “C” code will appear in the Credit Alert Verification Reporting System (CAIRVS).
foreclosure scenario
Foreclosure Scenario

James William’s property was foreclosed and an FHA claim was paid March 2009. According to documentation submitted with the December 2012 loan application, the borrower’s wife became ill and passed away October 2008. The borrower’s credit report showed all debts are current with no lates except for unpaid medical collections dating back to 2009.

James found a property priced at $210,000 and has $62,050 in savings to apply toward the purchase of the property.

Since the borrower documented circumstances beyond his control, and the claim was paid March 2009 is this borrower eligible for another FHA insured loan?



Yes, the borrower is eligible for another FHA insured mortgage. It has been three years since the claim was paid.

This scenario shows the borrower documented circumstances beyond his control but it was not necessary in this case.


mortgagee letter 09 52
Mortgagee Letter 09-52


Mortgagee Letters: http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/letters/mortgagee

pfs short sale scenario
PFS/Short Sale Scenario


Mary Smith recently relocated from Colorado to Florida due to a job transfer. She sold her home in Colorado using a short sale. She was current on her mortgage in Colorado at the time of the short sale but had late payments six months prior to the short sale. The short sale occurred three months ago.

Is this borrower eligible for a FHA loan?



No, the borrower is not eligible for an FHA loan since the borrower had mortgage lates within 12 months prior to the short sale and 12 months have not passed since the date of the short sale. This is required regardless of the fact that this is a relocation situation. (Ref: ML 09-52). Scenario does not meet credit history requirement and not eligible for FHA financing.

Reference: Mortgagee Letter 2009-52.

consumer credit counseling
Consumer Credit Counseling


  • One year of repayment under the plan.
  • Document all accounts included in the plan.
  • Document the repayment plan with no lates during the course of enrollment.
  • Written permission from the agency to enter into the mortgage transaction.
credit explanations
Credit Explanations


  • All derogatory credit (past 24 months) and for major occurrences.
  • Document the file to support your credit decision.
mortgage letter 2013 5
Mortgage Letter 2013-5


  • Manual Underwriting:
    • Decision Credit Scores below 620.
    • Debt to Income Over 43%.
  • Effective Date:
    • Case Nos. Assigned on or after April 1, 2013.
  • Applies to EEMs:
    • Debt to Income Up to 45%.
    • Compensating Factors Exceeding 45%.
mortgage letter 2013 5 cont d
Mortgage Letter 2013-5 Cont’d …



  • Applies to FHA’s Refinance of Borrowers in Negative Equity Positions.
  • All must be scored through TOTAL except:
    • Streamline Refinance.
    • HECMs.
    • Title 1.
    • Loans involving borrowers without credit scores.
  • Resource: ML 13-5:
let s review
Let’s Review
  • Credit
  • Major occurrences
  • Last 24 months
  • Short Sales
  • Judgments
  • Previous bankruptcy or foreclosure
  • Collections
  • Consumer Credit Counseling
  • Mortgagee Letter 2013-05


what lists must be checked to determine eligibility
What Lists Must be Checked to Determine Eligibility


LDP - Limited Denial of Participation - Individuals who have been barred from doing business with the Federal Government.

System for Award Management (SAM) - U.S. General Services Administration – List of parties who have been barred from doing business with the Federal Government.

CAIVRS - HUD’s Credit Alert Verification Reporting System. It includes individuals with Delinquent or Defaulted Debt and/or for whom an insurance claim has been paid.

hud limited denial of participation ldp and federal lists
HUD Limited Denial of Participation (LDP) and Federal Lists


  • To check HUD's LDP lists go to:http://portal.hud.gov/hudportal/HUD?src=/topics/limited_denials_of_participation.
  • To check the SAM list of excluded parties go to:


ldp sam


  • If the borrower, seller, listing or selling real estate agent or loan officer is on the LDP and/or SAM lists, then the application must be rejected.
  • Exception can be made if a seller is on the SAM list but the property being sold is the seller’s principal residence.



caivrs cont d
CAIVRS Cont’d …


  • Access via FHA Connection only.
  • Must have access to FHA Connection.
caivrs has delinquent borrower s records from
CAIVRS has Delinquent Borrower’s Records From


  • The Department of Housing and Urban Development (HUD).
  • The Department of Veterans Affairs (VA).
  • The Department of Education (DOE).
  • The Department of Agriculture (USDA).
  • The Small Business Administration (SBA).
  • The Federal Deposit Insurance Corporation (FDIC).
  • The Department of Justice (DOJ).
delinquent federal debts
Delinquent Federal Debts


Liens against property

Federal Student Loan


Federal Taxes

Title 1


caivrs cont d1
CAIVRS Cont’d …


  • A negative alert for CAIVRS requires the application to be referred to a DE Underwriter.
  • Loan is determined eligible if:
    • The CAIVRS does not belong to your applicant(s).
    • Bona fide legal assumption.
    • Divorce.
    • Bankruptcy for documented circumstances beyond borrowers
    • control.
    • Property delinquency related directly to a Presidentially-
    • declared disaster areas.
let s do a knowledge check
Let’s Do A Knowledge Check

CAIVRS can be accessed by telephone.


When you have a clear CAIVRS but there is defaulted

student loans on the credit report, the lender may proceed

Because the CAIVRS did not show anything but an “A”.


A positive hit (i.e., a match) on LDP/SAM is allowed if it

is on the seller and the property is currently the seller’s

primary residence.


You always need a clear CAIVRS to be able to close an

FHA loan.





CAIVRS can be accessed by telephone?

  • False

When you have a clear CAIVRS but there is defaulted

student loans on credit report, the lender may go ahead and

proceed because the CAIVRS did not show

anything but an “A”.

  • True


A positive hit (i.e., a match) on LDP/GSA is allowed if it

is on the seller and the property is currently the seller’s

primary residence.

  • True

You always need a clear CAIVRS to be able to close an FHA


  • False
let s review1
Let’s Review
  • LDP/SAM Requirements
  • CAIVRS Requirements
  • LDP/SAMDetails
  • CAIVRS Details
  • Manual Underwrite


invalid credit
Invalid Credit


  • Disputed Accounts
    • Account is not taken into account by the credit agency scoring system.
    • Must be referred to a DE Underwriter.
    • Exception for any of the following:
        • Account zero balance.
        • Marked paid in full or resolved.
        • The account is less than $500 AND over two years old.
non traditional or insufficient credit
Non-Traditional or Insufficient Credit


  • Non-traditional credit is provided to support making a credit decision. HUD has broken it down by “Groups.”
    • Applicants will have no or very limited credit.
    • Non-traditional credit CANNOT be used to compensate for derogatory credit.
    • Insufficient credit is determined when the non-traditional credit references are of Group II only.
non traditional credit requirements
Non-Traditional Credit Requirements

Housing-Related Credit


Cell Phone

Day Care

Group 1

Group 2


  • Must have three satisfactory credit references:
  • One from “Group 1”.
  • Two from “Group 2”.
  • OR
  • If only Group 2:
  • 31/43 ratios.
  • Two months of reserves.
non occupying co borrower
Non-Occupying Co-borrower


  • May be used to provide more depth to file and offset weakness.
  • Cannot be used to provide qualifying score.
  • If OCCUPYING BORROWER has only non-traditional credit and Group II references:
    • 31/43 ratios MAX no comp factors to exceed.
    • Two months of cash/liquid reserves.
let s take a look
Let’s Take A Look


  • Case Study - Thomas Jones.
  • Letters for non-traditional credit.
  • Determine if the case is FHA eligible and if so what
  • restrictions, if any, apply.
thomas jones case study
Thomas Jones Case Study

Thomas Jones has inquired about financing for a home purchase. He has found a home that is reasonably priced. The purchase price is $100,000. He has $3,600 down. Thomas has opened no credit, has no scores, and has no derogatory credit.



November 29, 2011

To Whom It May Concern:

I am writing as a credit reference for Thomas Jones. Thomas has been a customer of ours for two years. He opened an account with us to purchase a vehicle – 2007 Volkswagen Jetta. His monthly payment of $400 has been paid on time each and every month. Please feel free to contact us if you would require anything further.


Stephen Smith




November 21, 2011

 To Whom It May Concern:

I have been requested by our client to provide information regarding his insurance policy and payments. Thomas Jones (policy #12345A) has been with us for five years. His payment for auto insurance is paid on time each month. I can attach his pay history for you if you need it, but can tell you that he is a great customer!


David Tall

Office Manager



St. Joseph Daycare

November 22, 2011

Thomas Jones has had his child here for 13 months. His account is paid in advance and we truly enjoy having his son here. The amount he pays is $600 per month. We are glad to hear he is looking to purchase a home. Please let us know if we can provide anything further.

Thank you,

Sister Agnes


thomas jones case study questions
Thomas Jones Case Study Questions


  • VOR 0X30 for 24 months.Can we offer maximum financing?Yes/No?Can we have a non-occupying co-borrower?Yes/No?


  • Maximum LTV is permitted.
  • No more than one 30-day delinquency on payments due to any Group II reference.
  • No collection accounts/court records reporting (other than medical) filed within the past 12 months.
  • Non-occupying co-borrower is permitted; however the occupant’s ratios must not exceed 31/43 and no compensating factors are permitted.
  • Two months of liquid reserves are required – no gifts allowed.
non traditional credit with total
Non-Traditional Credit with TOTAL


  • One set of scores will give
  • you a decision.
  • No scores receive a Refer.

Polling Questions

Is renting from a family member documentation considered a non-traditional credit?

Yes or No?

Is a cell phone expense a non-traditional credit requirement for a housing-related credit? Yes or No?



Question 1:

The answer is yes; renting from a

family member documentation is

a non-traditional credit.

Question 2:

The answer is no, a cell phone is

not a non-traditional credit

requirement for a housing-related



maximum loan to value
Maximum Loan to Value


  • 96.5% Maximum Mortgage: 3.5% Required Down Payment.
  • Transactions Impacting Loan to Value (LTV).
    • Identity-of-Interest Transactions.
      • 85% LTV
        • Exceptions
    • Non-Occupying Borrowers.
      • 75% LTV
        • Exceptions
    • Properties Under Construction or Existing Less Than One Year.
      • 90% LTV
        • Exceptions
transactions affecting ltv
Transactions Affecting LTV


  • Identity of Interest.
  • Non-Occupying Co-Borrowers.
  • Transactions Involving Property Types.
income documentation
Income Documentation


  • Gaps: Greater than 30 days in past two years.
  • Alimony/Child Support: Past 12 months, three-year continuance.
  • Self-Employed: Less than 5% income from business activity.
  • Social Security: Document with one of the following:
      • Federal Tax Returns, Bank Statement, Proof of Income Letter, or Social Security Benefit Statement, SSA-
  • 1099/1024S. Refer to HUD Mortgagee Letter 2012-15.
  • Pension/Annuity: Verification and three-year continuance.
income documentation salaried borrowers
Income DocumentationSalaried Borrowers
  • Complete two-year work history with two years W-2s or Verification of Employment (VOE). Military discharge papers and college transcripts may also be used.
  • VOE (written or electronic) and most recent paystub.
  • OR
  • VOE (verbal) and all paystubs covering most recent 30-day period and W-2s for previous two years and signed IRS form 4506 for two previous tax years.


income documentation commissioned borrowers
Income DocumentationCommissioned Borrowers
  • Commissions earned represent 25% or more of the annual income.
  • Document using salaried employee requirements.
  • Most recent two years of personal tax returns.
  • Form 2106 for unreimbursed business expenses.


income documentation self employed borrowers
Income DocumentationSelf-Employed Borrowers


  • Most recent past two years of personal Federal Tax Returns.
  • Most recent past two years of business returns.
  • Profit and Loss and Balance sheets – if more than one quarter has elapsed from the last tax filing.
  • Business credit reports for corporations and S corporations.
cash investment requirements
Cash Investment Requirements


  • Acceptable Sources:
    • Cash-on-Hand.
    • Savings/Checking Accounts.
    • Private Savings Clubs.
    • Loan and Grants.
    • Gifts.
    • Sweat Equity.
    • Sale of Personnel Property.
    • Secondary Financing.
cash on hand and collateralized loans
Cash on Hand and Collateralized Loans


  • Cash on Hand:
    • Must be deposited or escrowed.
    • Explanation Letter and Budget.
  • Collateralized Loans:
    • Funds can be borrowed.
      • Secured asset.
    • Life insurance.
    • Loans secured by 401(k):
      • Do not require consideration of repayment for qualifying purposes.
private savings clubs sale of personal property
Private Savings Clubs & Sale of Personal Property


  • Private Savings Clubs:
    • Documentation must include the following:
      • an account ledger.
      • receipts from the transactions.
      • verification from club treasurer.
  • Lender must be able to re-verify the information provided.
  • Sale of Personal Property:
      • Evidence of sale.
      • Estimate of worth – Published Value or Appraisal.
      • Lesser of sales price or value.


  • Gifts:
    • Acceptable Donors:
      • Relative.
      • close friend with a defined interest.
      • borrower’s employer or labor union.
      • government agency or public entity.
    • Repayment may not be expected or implied.
    • A gift letter is required.
secondary financing
Secondary Financing


  • ML 12-03 Expands Definition of Family Member.
  • Can be used for down payment, closing costs, prepaid expenses, or discount points.
  • Can be recorded or not recorded.
  • Payment can be deferred.
  • Ignore CLTV.
sweat equity
Sweat Equity


  • Existing Construction:
    • Only repairs or improvements listed on the appraisal or conditional commitment.
  • Proposed Construction:
    • Sales contract must list tasks.
    • Use Marshall & Swift to determine value.
    • Only on the property being purchased.
asset documentation
Asset Documentation


  • Stock/bond Accounts
    • Liquidation required if used for
    • closing.
  • Depository Accounts are verified by:
    • Verification of Deposit (VOD).
    • Two months of bank statements
    • provided they have a beginning and
    • ending balance. If only ending
    • balance then three months are
    • required.
asset documentation cont d
Asset Documentation Cont’d …


  • Retirement Accounts
  • Use 60% of the most recent
  • account statements.
  • Document terms and
  • conditions of withdrawal.
  • Must show liquidated if
  • being used for cash to close.
required reserves
Required Reserves


  • Required on 3 and 4 Unit Properties:
    • Three Months Cash Reserves After Closing.
    • PITI.
    • Cannot be from a Gift.
  • Required for Occupying Co-Borrowers with Only Non-traditional Credit or Group II References:
    • Two Months’ Cash Reserves from Own Funds.


  • Standard ratios are 31% for housing and 43% total debts.
  • Borrowers who qualify under FHA’s Energy Efficient Homes (EEH), the ratios are 33% for housing and 45% for total debts.
compensating factors
Compensating Factors


  • You may exceed ratios provided you have compensating
  • factors:
      • No payment shock.
      • Large down payment (10% or more).
      • Ability to save.
      • Previous credit history/mortgage payments.
      • Compensation not reflected in effective income.
      • Cash reserves (Can’t come from loan proceeds).
      • Non-taxable income that was not grossed up.
      • Potential for increased earnings.
      • Primary wage-earner relocation.
35/48 Ratios.

585 Credit Score:

The delinquent credit is due to daughter’s hospitalization 18 months ago with minimal health insurance coverage.

All revolving and installment debts are current:

The last 30-day late payment on the car was 14 months ago and the last late payment on a couple of charge cards was over six months ago.

The borrower has medical collections totaling about $5,000 but has been making payments as agreed for almost nine months.

Borrower has worked for his current employer for 14 months as a financial analyst:

He was previously a self-employed financial planner for two years.

Housing and Rent:

Rent payment $1000 per month and has been 0 X 30 days late in the last 12 months.

The new housing expense is $1200 per month.

All of the funds to close are from the borrower’s own funds and he has a 401(k) with a balance of $74,000 for reserves.

The borrower has eight payments of $350 left on his car loan - payment not included in the debt ratio.

Case Study Review




  • Yes, there are compensating factors:
    • Applicant was self employed and under insured. Delinquency is from an isolated situation.
    • All derogatory credit was around the time of the issue with the daughter’s hospitalization and medical bills.
    • Now regular salaried employee with medical insurance for 14 months.
    • New housing payment reflects minimum payment shock.
    • The borrower’s auto will be paid off in eight months allowing for additional funds.
let s review2
Let’s Review
  • LTV Requirements
  • Income Documentation
  • Cash Investment Requirements
  • Asset Documentation
  • Required Reserves
  • Ratios
  • Compensating Factors


session summary
Session Summary


  • As we conclude today’s session , we are now able to:
  • Discuss the policies and processes to manually underwrite an FHA mortgage loan application.
  • Explain which transactions require a manual underwrite.
  • Describe the manual underwrite documentation requirements.
  • Analyze/determine acceptable credit risk for an FHA loan endorsement:
      • Recognize compensating factors in making an overall risk decision on a loan.
next steps resources


  • Course Evaluation
  • Recorded version of webinar will be available on the HUD website
  • Webinar FAQs will be available on HUD website
  • FHA Knowledge Database:
    • http://portal.hud.gov/hudportal/HUD?src=/FHAFAQ
  • CALLFHA (800) CALLFHA – (800) 225-5342 or email us at answers@hud.gov.
Next Steps & Resources


additional resources
Additional Resources
  • Sources:
  • Home Page on HUD website
  • http://www.hud.gov
  • Mortgagee Letters
  • http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/letters/mortgagee
  • Handbook
  • http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/handbks_forms
  • FHA Knowledge Database
  • http://portal.hud.gov/hudportal/HUD?src=/FHAFAQ.


thanks for attending this course

We look forward to your participation in other training events.

Thanks for attending this course!
  • Overview of HUD/FHA Programs
  • Home Mortgage Insurance for Disaster Victims 203(h)
  • FHA 203(k) Rehabilitation Mortgage Insurance Program
  • FHA Energy Efficient Mortgage (EEM)
  • FHA Home Equity Conversion Mortgage (HECM)
  • Credit Underwriting - Borrower Analysis
  • Credit Underwriting - Loan Calculations
  • Fundamentals of DE Credit Review & TOTAL Scorecard
  • DE Lender & DE Underwriter Roles & Responsibilities
  • FHA Condominium Approval Process
  • Fundamentals of Insurance Endorsement
  • FHA Appraisal Requirements - Property Types
  • How to Review an FHA Appraisal