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Table of Contents
HUD 4155.1, Mortgage Credit Analysis for Mortgage Insurance
HUD 4155.2, Lender’s Guide to the Single Family Mortgage Insurance Process
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4155-1 HUD 4155.1, Mortgage Credit Analysis for Mortgage Insurance
4155-2 HUD 4155.2, Lender’s Guide to the Single Family Mortgage Insurance Process
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15 Test Case Review Requirement
203(k) Cases Requiring Two Appraisals (not required on streamline (k))
245(a) GEM Maximum Insurable Mortgage
248 Borrower Eligibility Policy
248 MIP Payment
A
Acceptable Claim/Default Rate for LI Lenders
Acceptable Sources of Borrower Funds
Acceptable Sources of Borrower Funds
Access Standards
Accessing FHA Connection
Accessing the URS Module
Actions Taken for Approved Borrowers
Adding Non Taxable Income to a Borrower's Gross Income
Adding Solar Energy System Costs
Additional Borrower and Coborrower Eligibility
Additional Concerns for Calculating the Maximum Mortgage Amount on Manufactured Home CP Loan
Additional Credit Review Requirements
Additional Documentation
Additional Information on Loan Limit Appeals
Additional Information on MIPs (Reference)
Additional Information on Property Eligibility and Valuation
Additional Information on Required Second Appraisals for High Balance Loans in Declining Areas Reference
Additional Information on Section 248
Additional Information on the H4H Program Reference
Additional Instructions for the Graduated Payment Allonge Amending Note
Additional Instructions for the Graduated Payment Rider
Additional Interest Rate Buydown Instructions
Additional MIC Instructions
Additional Notes About the Model Adjustable Rate Note Form
Additional Paragraphs Instructions
Additional Polices Regarding Financing Terms and Conditions
Additional Required Inspections by Qualified Entities
Additional Requirements for Cooperatives
Additional Streamline Refinance Policies and Instructions Reference
Additional Sweat Equity Requirements
Additions to the Mortgage Amount for Repair and Improvement
ADP Codes
Advanced Mortgage Payment Requirements
Advancing Funds Is Prohibited
Affirmative Fair Housing Marketing
Age of the Mortgage Loan Application Documentation
Agent Request for Approval by the Local HOC
Alimony, Child Support and Maintenance Income Criteria
Alimony, Child Support, and Maintenance Income
Allowable Interest Rate Adjustments and Caps Under Section 251
Alternative VOE Documentation
Amortization Provisions
Amount of Financing for Eligible Borrowers
Amount Permitted on a Family Member Loan
Analyzing a Borrower's Employment Record
Analyzing Corporate Tax Returns
Analyzing Credit History
Analyzing Interest and Dividends
Analyzing IRS Form 1040 Schedule E
Analyzing Partnership Tax Returns
Analyzing Projected Income
Analyzing "S" Corporation Tax Returns
Analyzing the Business's Financial Strength
Analyzing the Stability of Rental Income
Annual Adjustment Notice Policy
Annual Adjustment Notice Record Retention
Annual Adjustment Notice Requirement
Annual MIP Payment Policy
Annual MIPs
Appeals for Higher Loan Limits
Applicability of Federal Statutes and Regulations to FHA Single Family Programs
Applicability of the Fair Housing Marketing Policy
Applicability of the Mortgage Calculation Process
Applicability of the Probation Sanction
Applicable LTV Ratio and Mortgage Limits
Application of Contingent Liability Policies
Application of Gift Funds when Closing a Construction Permanent Loan
Application of Sanctions Against a Lender
Applying State Laws to Mortgage and Note Forms
Appraisal Documentation
Appraisal Repair Requirements
Appraisal Reporting Forms
Appraisal Reporting Standards
Appraisal Requirements
Appraisal Requirements
Appraiser Responsibility for Analyzing Prior Sales of a Property
ARM Assumptions and Transfers of Servicing
ARM Interest Rate Adjustments and Caps
ARM Loan Maturity
ARM Pre Loan Disclosure
ARM Processing and Underwriting Requirement
ARM Suffix Codes
ARM Suffix Codes for Tracking ARM Activity
ARM to ARM Refinancing
ARM to Fixed Rate Refinancing
ARM Type Indicators
ARM Type Indicators
ARM Underwriting Requirements
ARMS
Assessment of Late Fees and Interest Charges
Assumability Restrictions
Assumptions
Authorized Section 245(a) GEM Plans and Payment Schedules
Authorized Section 245(a) GPM Plans
Automatic Cancellation of the Annual MIP
Automatic Case Number Cancellations by the System
Automobile Allowances and Expense Account Payments
Available URS Reports
B
Background Information on a Change in Home Location
Basic Criteria for Determining Maximum Mortgage Amount for Manufactured Home CP Loan
Basic EEM Program Requirements and Criteria
Basic Eligibility Requirements
Basic Nationwide Loan Limits
Basics of the LI Program
Basis for Annual MIP
Basis for Determination of MPS and MPR
Basis for Rejecting a Borrower for Federally Related Credit
Basis for Targeting Lenders
Basis for the Index
Benefits of the LI Program
Borrower Additions or Deletions to the Title
Borrower Age Limits
Borrower and Coborrower Requirements
Borrower Approval or Rejection
Borrower Authorization for Verification of Information
Borrower Cash to Close
Borrower Credit Analysis
Borrower Eligibility and Credit Analysis
Borrower Eligibility Requirements
Borrower Employment and Employment Related Income
Borrower Funds to Close
Borrower Liabilities: Contingent Liability
Borrower Liabilities: Projected Obligations and Obligations Not Considered Debt
Borrower Liabilities: Recurring Obligations
Borrower Must Be Current on Mortgage to Be Eligible for a Cash Out Refinance
Borrower Qualifying on the 1 Year ARM
Borrower Qualifying on the 3, 5, 7, or 10 Year ARM
Borrower Qualifying Ratios
Borrower Required Investment on a Purchase Transaction
Borrower Secondary Financing
Borrower Subordinate Financing
Borrower Use of Non-Approved Broker to Assist in Obtaining Mortgage Financing (Reference)
Borrower, Coborrower and Cosigner Eligibility Requirements
Borrowers Employed by a Family Owned Business
Borrowers Returning to Work After an Extended Absence
Borrowing Policy for Borrowers 60 Years of Age and Older
C
Calculating Annual Adjustments
Calculating Interest Rate Adjustments
Calculating Loans on HUD REO Sales With Repair Escrow
Calculating Maximum Mortgage Amounts on Purchase Transactions
Calculating Maximum Mortgage Amounts on Purchases
Calculating Qualifying Ratios for Eligible Investment Properties
Calculating the Energy- Related Mortgage Amount
Calculating the Existing Debt on a No Cash Out Refinance With an Appraisal
Canceling and Reinstating Case Numbers
Case Binder Assembly Requirements: DE Home Equity Conversion Mortgage (HECM) Cases
Case Binder Assembly Requirements: Direct Endorsement (DE) Cases
Case Binder Preparation and Submission
Case Number Transfer Involving a MAR
Case Number Transfer Involving a Rejected Loan
Cases Submitted for Reconsideration After Receiving an NOR
Cash Accumulated With Private Savings Clubs
Cash and Savings/Checking Accounts as Acceptable Sources of Funds
Cash Out Refinance Transactions
Cash Saved at Home
Categories for LI Mortgage Endorsement Processing
Changes After Insurance Endorsement
Changes Allowed/Not Allowed After Insurance Endorsement
Changes in Home Location After Insurance Endorsement
Changes That Affect DE Lender Approval Status
Chapter 13 Bankruptcy
Chapter 7 Bankruptcy
Charges Not Considered Interested Third Party Contributions
Circumstances in Which an Older Borrower May Borrow the Cash Investment
Circumstances Requiring Borrower Requalification
Citizenship and Immigration Status
Civil Money Penalties
Closing Certification Statements
Closing Certifications and Sales Contracts
Closing Cost and Minimum Cash Investment Requirements
Closing Costs
Closing Costs and Other Fees
Closing in Compliance With Loan Approval
Closing Instruments Requirement
Collateralized Loans
Collecting Customary and Reasonable Fees
Collections and Judgments
Combined Construction and Permanent Loans
Commission From the Sale of the Property
Commission Income
Common Documentation Problems
Common System Problems
Comparison of TOTAL to AUS
Compensating Factors
Compensating Factors Benchmark Guidelines
Complaints
Completion and Submission Instructions for the Underwriter Certification
Compliance Inspection Report
Compliance Inspection Requirements
Compliance With Regulations When Allowing Changes
Computing the Monthly Installment Payment
Conditions for Subtracting Sales Commissions
Conditions Under Which FHA Approval Is Not Required
Condominium Rider Example (Pg. 1)
Condominium Rider Example (Pg. 2)
Condominium Units Utility Expenses
Condominium Utility Expenses
Confidential Nature of Credit Information
Confidentiality Policy for Credit Information
Confirming Status of the MIC
Consideration of a Borrower's Past Payment History on Federally Related Debt
Construction Period Fees
Construction Permanent Mortgage Documentation Requirements for Closing and Endorsement
Construction Permanent Mortgage Features
Construction Permanent Mortgage Program Eligibility
Construction Permanent Mortgage Program Requirements
Construction Rider Example (Pg. 1)
Construction Rider Example (Pg. 2)
Construction Rider Example (Pg. 3)
Consumer Credit Counseling Payment Plans
Contents of the Mortgage Loan Application Package
Contingent Liability on Cosigned Obligations
Contingent Liability on Mortgage Assumptions
Contracts Between Servicing Lenders and DE Lenders
Cooperative Rider Example (Pg. 1)
Cooperative Rider Example (Pg. 2)
Correcting Case Numbers or ADP Codes on the Note and Security Instrument
Correcting Property Address Discrepancies
Correcting Two Common Types of Errors
Cosigner Requirements
Cost of Energy Efficient Improvements
Credit Card Payment for the Appraisal/ Credit Report
Credit Qualifying Streamline Refinances
Credit Report Requirements
Credit Report Retention and Discrepancy Reconciliation
Creditworthiness Review
Creditworthy Review
Criteria for Consideration as a Construction Permanent Mortgage
Criteria for Maximum Financing
Criteria for Requiring a Second Appraisal
D
Date For Collecting Interest
Date of Closing
Date of Loan Insurance
DE Case Binder Document Requirements
DE Case Suffix Codes
DE Lender Application and Approval Process
DE Lender Application and Approval/Lender Insurance Program (LI) Eligibility & Approval
DE Lender Approval Process
DE Lender Pre Closing Phase
DE Lender Unconditional Approval Phase
DE Processing Ineligibility
DE Program Participation Is a Privilege
DE Suffix Codes
DE Underwriter Responsibility for Determining if a Borrower Is Creditworthy
Debarment
Debt to Income Ratio Computation for Recurring Obligations
Debt to Income Ratios
Decline of New Interest Rate
Deficiency Letters and Lender Responses
Definition: Contingent Liability
Definition: Federal Debt
Definition: Investment Property
Definition: Self Employed Borrower
Definition: Family Member
Definition: Identity of Interest Transaction
Definition: Non Occupying Borrower Transaction
Definition: Principal Residence
Definition: Property Flipping
Definition: Secondary Residence
Definition: Third Party Contribution
Definitions of Handbook Terms
Delinquent Federal Debts
Description of a Condominium
Description of a Section 245(a) GPM
Description of a Streamline Refinance
Description of CAIVRS
Description of "Declining Market" for Purposes of Properties That Are Collateral for an FHA- Insured Mortgage
Description of Executive Order 11063
Description of FHA Connection
Description of Gift Funds
Description of Section 203(b) Insurance
Description of Section 203(h) Program
Description of Section 203(i) Insurance
Description of Section 203(k) Insurance
Description of Section 203(n) Program
Description of Section 220(h) Program
Description of Section 223(e) Program
Description of Section 535 Requirements
Description of Streamline 203 (k)
Description of the Fair Housing Act
Description of the H4H Program
Description of the Lender Performance Report
Description of the Neighborhood Watch Early Warning System
Description of the Section 203(h) Program
Description of the Section 220(d)(3)(A) Program
Description of the Section 233 Program
Description of the Section 234(c) Program
Description of the Section 238(c) Program
Description of the Section 245(a) GEM Program
Description of the Section 251 Program
Description of the Section 255 Program
Description of the Section 330(a) Requirements
Description of the Section 527 Requirements
Description of TOTAL
Description of URS Reports
Description: Corporation
Description: Partnership
Description: "S" Corporation
Designation of a Lender as an Authorized Agent
Determination of Credit Worthiness
Determination of Property Eligibility
Determination of the 203(b) Maximum Insurable Mortgage on Purchases
Determining If the Borrower Has Made the Required Down Payment When Building on Own Land
Determining Length of Ownership for a Manufactured Home
Determining New Monthly Payments
Determining Property Status for a Manufactured Home
Determining the Amount Needed for Closing
Determining the Calculated Interest Rate
Determining the Closing Certifications
Determining the Current Index Figures
Determining the Energy Package
Determining the New Adjusted Interest Rate
Determining When a Borrower Reaches the LTV Ratio for Annual MIP Cancellation
Developing a Credit History
Developing Credit Information
Direct Endorsement (DE) Program Lender Application
Direct Endorsement (DE) Program Lender Approval
Direct Endorsement Program
Disaster Relief Grants and Loans
Disbursing Funds
Disclosing Sales Transaction Terms
Disclosure to the Borrower on Eligibility for Insurance
Discount Points
Discussion of Lender Approval Conditions
Documentation of a Borrower's Financial Position
Documentation of the Use of Compensating Factors
Documentation Required for Endorsement
Documentation Required to Verify Rental Income
Documentation Requirements for Closing
Documenting an Analysis of Delinquent Accounts
Documenting CAIVRS Authorization
Documenting the Transfer of Gift Funds
Documents Needed During the Review
Draw on Loan to Payoff Lot
Duration of an Indemnification Agreement
Duration of LI Program Approval
E
EAD Required as Evidence of Work Status
Earnest Money Deposit
EEH General Underwriting Policy
EEH General Underwriting Procedures
EEH Policy Guidance for Streamline Refinances
EEH Qualifying Ratios
EEH Underwriting Procedures for New Construction Mortgages
EEM Maximum Allowable Financing
Effect of Changes on the Existing Contract of Insurance
Effect of Foreclosures and Delinquencies on Lender Notification Obligation
Effect of Withdrawal of DE and/or FHA Approval on Cases in Process
Effective Date for the Adjusted Interest Rate
Effective Date of Probation
Effective Date of the DE Lender Status Withdrawal
Effective Dates for the H4H Program
Effective Income
Elements of Lender Probation
Elements of the Review
Eligibility for Cash Out Refinances
Eligibility for Federally Related Credit
Eligibility for Participation in the Pre Closing Review Phase
Eligibility of Proposed and New Construction in SFHAs
Eligibility of State and Local Government Agencies
Eligibility Requirements for Nonprofit Organizations and State and Local Government Agencies
Eligibility Requirements for Principal Residences
Eligibility Requirements for Secondary Residences
Eligible EEH Properties
Eligible EEM Properties and Programs
Eligible Occupancy/ Property Types for Section 245(a) GPMs
Eligible Properties
Eligible Transactions/ Mortgages
Elimination of Refunds
Emergency Procedure for Change in Home Location After Insurance
Employee Improprieties May Be Attributed to the Organization
Employer Assistance Plans
Employer Differential Payments
Employer Programs as Acceptable Sources of Funds
Employer's Guarantee Plans
Enabling Legislation for FHA's Single Family Programs
Enabling Legislation for Single Family Insurance Programs
Endorsement Package Submission
Endorsement Processing for Approved LI Lenders
Energy Efficient Homes
Energy Efficient Mortgage Calculation
Energy Efficient Mortgage Program
Energy Efficient Mortgage Worksheet
Energy- Related Weatherization Items
Engineer's Certification on Foundation Compliance for Manufactured Homes
Ensuring the Absence of Sanctions Against or Delinquent Federal Debt Owed by an Underwriter
Entry of Narrative Information into URS
Entry of Ratings and Deficiency Codes into URS
Equal Credit Opportunity Act (ECOA)
Equity Credit
Equity in the Land as a Borrower's Down Payment
Escrow Account Required for FHA Endorsement Prior to Improvement Installation
Escrow Agreement Requirements
Escrow of Funds for Completion of Construction
Establishing a Borrower's Earnings Trend
Establishing an Overtime and Bonus Income Earning Trend
Establishing the Adjusted Interest Rate
Establishment of the Interest Rate
Estimating Real Estate Taxes When Determining Debt to Income Ratios
Evaluating a Late Endorsement Request
Evaluating Borrowers With Insufficient Credit
Evaluating Non Traditional Credit
Evaluating Non Traditional Credit and Insufficient Credit
Evaluating Nontraditional/In sufficient Credit Reference
Evidence of Employment
Evidence of Social Security Number
Examples: Civil Money Penalty Infractions
Examples: Late Endorsement Processing/ Certification Requirement
Exceptions to the 90 Day Restriction
Exceptions to the Eligibility Rule
Exceptions to the FHA Policy Limiting the Number of Mortgages Per Borrower
Exceptions to the Maximum LTV Factor for Identity of Interest LTV Transactions
Exceptions to Using Staff Technicians
Excessive Loan Amounts
Exclusion of Rental Income From Property Being Vacated by the Borrower
Executing Certifications
Executive Order 11063 (as Amended by Executive Order 12259)
Exemption From Contingent Liability Policy on Mortgage Assumptions
Exhibit 1: Home Mortgage ADP Codes
Exhibit 1: Model Mortgage Form
Exhibit 1: Mortgage Lender Approval Format
Exhibit 1: Pre-Endorsement Review Approval/Rejection Checklist for HECM Files
Exhibit 1: Single Family HOC Jurisdictions
Exhibit 1: Single-Family Homeownership Center Jurisdictions
Exhibit 10: Tax-Exempt Financing Rider
Exhibit 11: Rider for Section 248 Mortgage
Exhibit 12: Rider for Section 247 Mortgage
Exhibit 13: Non-Owner Occupancy Rider
Exhibit 14: Water Purification Equipment Rider
Exhibit 15: Cooperative Rider
Exhibit 16: Construction Rider for Construction/Permanent Mortgage
Exhibit 2: Model Note Form
Exhibit 2: Pre-Endorsement Review Approval/Rejection Checklist for Non-HECM Files
Exhibit 2: Program Identification Codes
Exhibit 2: Single Family Originating Lending Areas
Exhibit 2: Unconditional Direct Endorsement Approval Letter Format
Exhibit 3: FHA Common System Errors and Documentation Problems
Exhibit 3: Model Adjustable Rate Note Form
Exhibit 3: Mortgage Lender Disapproval Letter Format
Exhibit 3: Request for MIC Correction Format
Exhibit 4: Graduated Payment Rider
Exhibit 4: Mortgage Lender Probation Letter Format
Exhibit 5: Graduated Payment Allonge Amending Note
Exhibit 5: Pre-Closing Sanction Letter Format
Exhibit 6: Growing Equity Allonge Amending Note
Exhibit 6: Withdrawal of DE Lender Approval Letter Format
Exhibit 7: Condominium Rider
Exhibit 8: Rehabilitation Loan Rider
Exhibit 9: Planned Unit Development Rider
Exhibits
F
Failure to Provide a Timely/Accurate Annual Adjustment Notice
Fair Credit Reporting Act (FCRA)
Fair Housing and Other Civil Rights Requirements
Family Member Secondary Financing
Fannie Mae/Freddie Mac Forms
Features of a Credit Qualifying Streamline Refinance
Federal Income Tax Returns
Fees for Lock Ins or Rate Locks
FHA Connection
FHA Connection Error Messages
FHA Connection Functionality
FHA Criteria for Determining Late Requests for Insurance Endorsement
FHA General Credit Policy
FHA Insurance Program Documentation and Education
FHA Policy on Appraisal and Inspection Fees
FHA Policy on Appraisal Extensions
FHA Policy on Appraisal Repair Requirements
FHA Policy on Appraisal Requirements for Sales Concessions
FHA Policy on Appraisal Reuse
FHA Policy on Appraisals
FHA Policy on Approving a Change in First Payment Date/Maturity
FHA Policy on Assumptions
FHA Policy on LI Lender Pre Insurance Review
FHA Policy on Objections to Title for Customary Easements, Restrictions and Encroachments
FHA Policy on Requests for an Increase in Value
FHA Policy on Risk Based Premiums
FHA Policy on Satisfying Repair Requirements
FHA Policy Requiring the Use of an FHA Approved Lender or Broker for Loan Origination
FHA Preference for Verification of Nontraditional Credit References
FHA Prepayment Policy
FHA Procedures for Processing a Request for a Partial Release of Security
FHA Requirement for Establishing Owner-Occupancy
FHA Requirement for Government Unit That Established the Nonprofit Entity
FHA Requirement for Mortgage Note and Security Instrument
FHA Underwriting and Approval Required for Employee Loans
FHA's TOTAL Mortgage Scorecard
FHAC B2G
FHAC Loan Endorsement Processing
Final URLA and Addendum Requirement
Financing From Family Members
Financing From Government Agencies
Financing From Nonprofit Organizations
Financing From Private Individuals or Other Organizations
Financing Limit
Financing Limit When Paying Off Land Contracts
Financing Limits When Building on Own Land
Fixed Rate to ARM Refinancing
Flood Insurance for Condominiums
Flood Insurance for Manufactured Homes
Flood Insurance Requirements for Existing Construction
Form and Content of the Security Instrument
Format for Credit References on an NTMCR
Format for Request for MIC Correction
Format for Request for MIC Correction (Cont.)
Formulas for Determining Maximum Mortgage Amount on a Manufactured Home CP Loan
Foundation Requirements for Manufactured Homes
Four C's of Credit
Frequency of Interest Rate Changes
G
General Acceptability Standards and Property Eligibility
General Documentation Requirements for Self- Employed Borrowers
General Documentation Standards
General Documentation Standards
General Guidelines for Analyzing Borrower Credit
General Information About Debt to Income Ratios
General Information on Acceptable Sources of Borrower Funds
General Information on ARMs
General Information on Assumptions
General Information on Borrower Qualifying
General Information on Case Binder Preparation and Submission
General Information on Changes After Insurance Endorsement
General Information on DE Lender Approval
General Information on Fair Housing and Other Civil Rights Requirements
General Information on FHA Loan Processing and Review
General Information on FHA Mortgage Insurance Programs, the Mortgage Insurance Process, and Loan Origination Requirements/Restrictions
General Information on Home Mortgage Insurance Programs
General Information on Lender Monitoring
General Information on Lender Sanctions
General Information on Mortgage and Note Forms
General Information on Mortgage Credit Analysis
General Information on Property Requirements and Restrictions
General Information on Property Valuation and Eligibility
General Information on Refinance Transactions
General Information on Secondary Financing
General Information on Self Employed Borrowers and Income Analysis
General Information on Settlement Requirements
General Information on Streamline Refinances
General Information on Streamline Refinances
General Information on the EEM Program
General Information on the HOPE for Homeowners (H4H) Program
General Information on the Lender Insurance (LI) Program
General Information on the Underwriting Process
General Information on Title Exceptions
General Information on Traditional and Non-Traditional Credit Reports
General Information on Transactions Affecting Maximum Mortgage Calculations
General Information on Underwriting and Underwriters
General Lender Responsibilities at Loan Closing
General Loan Closing Requirements
General Loan Correspondent Policy
General LTV Reduction Requirement Information
General Mortgage Credit Analysis Documents
General Policy on Adjusting Income Based on a Review of IRS Form 1040
General Policy on Borrower Income Analysis
General Policy on the Eligibility of Nonprofit Organizations
General Waiver for Title Conditions
Gift Fund Required Documentation
Gift Letter Requirement
Gifts as an Acceptable Source of Funds
Gifts from Charitable Organizations That Lose or Give Up Their Federal Tax- Exempt Status
Glossary
Glossary of Handbook Terms
Government Actions for Which FHA Approval Is Not Required
Government Agencies That Can Provide Secondary Financing
Government Agency Secondary Financing
Government Assistance Programs
GPM to ARM Refinancing
GPM to Fixed Rate Refinancing
Graduated Payment Allonge Amending Note
Graduated Payment Rider Example
Granting Unconditional Approval
Grounds for Civil Money Penalties
Growing Equity Allonge Amending Note Example
Guidelines for Analyzing IRS Form 1040
Guidelines for Credit Report Review
Guidelines for Determining That a Borrower Has Sufficient Credit References
H
Handling Corrections to Original Instruments After Insurance Endorsement
Handling Incorrect CAIVRS Information
Handling Loans That Are Ineligible for Endorsement
HECM Case Binder Document Requirements
Help Screen Information
HERS Report Requirements
HERS Representative Certification Statement
Hierarchy of Credit Review
HOC Actions Upon Receipt and Review of the Uniform Case Binder
HOC and DE Lender Responsibilities for Determining Eligibility and Verifying HUD Approval
HOC Application Review Requirements
HOC Authority to Impose Additional Requirements
HOC Information
HOC Information
HOC Loan Processing Tasks
HOC PETR Responsibilities
HOC Processing of Lender Responses
HOC Responsibilities for Nonprofit Agency Approval
Holding Period Prior to Borrower Eligibility
Home Energy Rating System (HERS) Report Requirements
Home Equity Conversion Mortgage
Home Mortgage Insurance Programs
Hope for Homeowners (H4H) Program
How a Family Member Can Help With Property Purchase
HUD Real Estate Owned (REO) Acquisitions
Hybrid ARM Eligibility
I
Identity of Interest Transactions
Ignoring or Setting Aside an Appraisal
Importance of Careful Underwriting Analysis
Importance of DE Lender Program Monitoring
Importance of the PETR
Importance of the Role of the Underwriter
Inaccurate Annual Adjustment Notice
Inapplicability of Property Flipping Restrictions to New Construction
Income Analysis: Corporate Tax Returns (IRS Form 1120)
Income Analysis: Individual Tax Returns (IRS Form 1040)
Income Analysis: Partnership Tax Returns (IRS Form 1065)
Income Analysis: "S" Corporation Tax Returns (IRS Form 1120S)
Income Documentation Requirement
Income from Roommates in a Single Family Property
Income From Seasonal Employment
Inducements to Purchase
Ineligibility of Delinquent Borrowers for Cash Out Refinances
Ineligibility of Delinquent Mortgages
Ineligible Borrowers
Ineligible Mortgage Transactions
Information Required From the Lender
Instructions for Completing the Model Mortgage Form
Insurance Endorsement Processing
Interest Rate Adjustments Over the Term of the Mortgage
Interest Rate Changes
Interest Rate Index
Interest Rate Information
Interested Third Party Contribution Amounts
Interested Third Party Contributions
Investment and Trust Income
Investment Property Eligibility and Underwriting Requirements
Investments as an Acceptable Source of Funds
Investors Assuming Mortgages
IRAs, Thrift Savings Plans, and 401(k)s and Keogh Accounts
L
Language Preceding Uniform Covenants
Late Requests for Endorsement
Lawful Permanent Resident Aliens
LDP Sanction
Lead- Based Paint Standards
Left Side of Binder Checklist
Lender Advancement of the Principal Loan Reduction
Lender Certification
Lender Code of Ethics
Lender Discretion on Requiring a Flood Elevation Certificate and/or Flood Insurance
Lender Eligibility Requirements
Lender Initiation of the Endorsement Process
Lender Insurance (LI) Program Eligibility & Approval
Lender Insurance Program Eligibility & Approval Requirements
Lender Monitoring Overview
Lender Monitoring Tools
Lender Notification at Conclusion of Review
Lender Notification of Probation
Lender Notification to Approved Borrowers
Lender Obligation to Complete Improvements Regardless of Escrow Reserves
Lender Performance Reports
Lender Probation
Lender Request Requirements
Lender Requirements for Record Keeping
Lender Requirements Regarding Sales Concessions
Lender Requirements When Taking Adverse Action Against a Borrower
Lender Responsibilities
Lender Responsibilities for the EEM Escrow Account
Lender Responsibilities Regarding Title Objections
Lender Responsibility for Appraisers
Lender Responsibility for Borrower Screening
Lender Responsibility for Borrower Screening Using CAIVRS
Lender Responsibility for Credit Documentation and Borrower Qualifying
Lender Responsibility for Determining Mortgage and Note Compliance
Lender Responsibility for Ensuring That an Entity Is a Charitable Organization
Lender Responsibility for Estimating Settlement Requirements
Lender Responsibility for Follow Up After Sending the Notice
Lender Responsibility for Providing Appraised Value Documentation to the Borrower
Lender Responsibility for Reporting Violations and Program Abuses
Lender Responsibility for Resolving Conflicting Information
Lender Responsibility for Verifying Borrower Eligibility
Lender Responsibility for Verifying the Acceptability of Gift Fund Sources
Lender Responsibility When Qualifying a Borrower
Lender Restrictions per the ECOA
Lender Sanctions
Lender's Rights Under the Original Contract
Lender/HOC Informal Conference and Follow Up
Lending Areas
LI Lender eCB Submission Requirements
LI Lender Submission Requirements for Case Binders Selected for PETR
LI Loan Endorsement Processing
LI Program Approval Requirements
LI Program Eligibility Requirements
Limitation on Number of FHA- Insured Mortgages Per Borrower
Limitation on the Number of ARMs That FHA May Insure Under Section 251
Limitation on the Number of Secondary Residences
Living Trusts
Living Trusts and Security Instruments
Loan Application and Endorsement Process Overview
Loan Application and Finance-Related Policies
Loan Application Submission to the HOC
Loan Closing
Loan Closing Documentation Requirements
Loan Closing Policies
Loan Endorsement
Loan Limits for High Cost Areas
Loan Submission and Endorsement Process for LI Lenders
Loan Submission and Endorsement Process for Non LI Lenders
Loan Transactions for Building on Own Land
Loan Transactions for Paying Off Land Contracts
Loan Transactions in Which a Private Investor May Obtain an FHA- Insured Mortgage
Loans and Grants as Acceptable Sources of Funds
Loans Exceeding the Maximum Allowable Amount
Loans Exceeding the Statutory Loan Limit
Loans Involving a Business Relationship Posing a Possible Conflict of Interest
Loans Involving HUD Employees, Relationships Posing a Possible Conflict of Interest, and Lender Employees
Loans Involving HUD/FHA Employees
Loans Involving Lender Employees
Locating Additional Information on Section 247
Locating Information on Various Statutes and Regulations
Locating Terms and Definitions Related to ARMs
Location of the LDP and GSA Lists
LTV Factor When Paying Off Land Contracts
LTV for Two to Four Unit Properties
LTV Limits
LTV Limits When Building on Own Land
LTV Reduction Requirements
M
Making Changes to the Note for the Permanent Loan
Manufactured Home Construction-Permanent Loans
Manufactured Home CP Loan is a Purchase Transaction
Manufactured Housing Condominium Projects (MHCP)
Maximum Insurable Mortgage
Maximum Insurable Mortgage
Maximum Insurable Mortgage Calculation
Maximum Loan Limits, Mortgage Amounts and Mortgage Term
Maximum LTV Factor for Non Occupying Borrower Transaction
Maximum LTV Factor on Identity of Interest Transactions
Maximum LTV Factors and UFMIP for Various Types of Refinance Transactions
Maximum LTV for Proposed/ Existing Construction
Maximum LTV Ratios
Maximum Mortgage Amount
Maximum Mortgage Amount
Maximum Mortgage Amount Calculation
Maximum Mortgage Amount Calculation Based on Length of Ownership
Maximum Mortgage Amounts on No Cash Out/Cash Out Refinance Transactions
Maximum Mortgage Amounts on Purchases
Maximum Mortgage Amounts on Refinance Transactions
Maximum Mortgage Amounts on Streamline Refinances
Maximum Mortgage Amounts/Cash Investment Requirements on Purchase Transactions
Maximum Mortgage Calculation
Maximum Mortgage Calculation for Manufactured Home CP Loan Based on Allowable LTV
Maximum Mortgage Calculation for Manufactured Home CP Loan Based on Existing Indebtedness
Maximum Mortgage Calculation for Manufactured Home CP Loan Based on Total Cost or Itemized Value
Maximum Mortgage Term
Maximum Mortgage Terms
Maximum Number of ARM Units
Maximum Percentage of Financing
Maximum Refinancing Term
Methods for Reporting Fraud or Abuse
Methods of TRMCR Submission
MIC Section of ACT Code
Military Income
Military Personnel Eligibility
Military, Government Agency, and Assistance Program Income
Minimum Length of Self Employment
Model Adjustable Rate Note Form Example
Model ARM and Note
Model Mortgage Form Example (pg.1)
Model Mortgage Form Example (pg.10)
Model Mortgage Form Example (pg.2)
Model Mortgage Form Example (pg.3)
Model Mortgage Form Example (pg.4)
Model Mortgage Form Example (pg.5)
Model Mortgage Form Example (pg.6)
Model Mortgage Form Example (pg.7)
Model Mortgage Form Example (pg.8)
Model Mortgage Form Example (pg.9)
Model Mortgage Form Format
Model Mortgage Form Rider Requirements
Model Note Form Allonge Requirements
Model Note Form Example
Model Note Form Format
Monitoring Lender Performance
Mortgage Amount for HUD REO Sales With Repair Escrow (Reference)
Mortgage and Note Form Exhibits
Mortgage and Note Form Requirements in Special Circumstances
Mortgage and Note Form Special Requirements for Specific States and Localities
Mortgage and Note Format
Mortgage and Note Forms
Mortgage and Note Requirements for ARMs
Mortgage Broker Fees
Mortgage Calculation for a Property Acquired Less Than One Year Before Loan Application
Mortgage Credit Analysis and Borrower Approval
Mortgage Credit Certificates
Mortgage Form Requirements
Mortgage Insurance Certificates
Mortgage Insurance for Disaster Victims
Mortgage Insurance Funds
Mortgage Insurance Premiums (MIPs)
Mortgage Insurance Program Overview
Mortgage Lender Approval Letter Instructions
Mortgage Lender Approval Text Format
Mortgage Lender Disapproval Letter Text Format
Mortgage Lender Letter Exhibits
Mortgage Lender Probation Letter Text Format
Mortgage Loan Application Document Processing
Mortgage Loan Application Documentation Requirements
Mortgage Loan Application Documentation Requirements
Mortgage Loan Application Name Requirements
Mortgage Loan Program Exhibits
Mortgage Loan Requirements and Eligibility Criteria
Mortgage Loan Submission and Endorsement Process
Mortgage Note and Security Instrument Requirements
Mortgage Payment Expense to Effective Income Ratio
Mortgages Must Be Current to Be Eligible for Streamline Refinances Without an Appraisal
Mortgages Must Be Current to Be Eligible for Streamline Refinances Without an Appraisal
Mortgages Not Subject to the 1989 Act
Mortgages on Which Advance Notice of Prepayment Is Required
Mortgages Subject to the 1989 Act
MRB Withdrawal of Basic FHA Approval
N
National Housing Act Provisions on Loan Limits
Need to Obtain Borrower Percentage of Ownership Information
Neighborhood Watch Early Warning System
Net Rental Income Calculation for Three and Four Unit Properties
Net Sales Proceeds From a Property
New Borrower Using an Existing Appraisal
No Cash Out Refinance Transactions With an Appraisal
No Cost Refinances
Non Emergency Procedure for Change in Home Location After Insurance
Non Employment Related Borrower Income
Non Endorsed Cases After 18 Months
Non LI Loan Endorsement Processing
Non Occupying Borrowers
Non Realty or Personal Property
Non Taxable and Projected Income
Non Traditional Mortgage Credit Report
Non- Lawful Residency
Non- Owner Occupancy Rider Example (Pg. 1)
Non- Owner Occupancy Rider Example (Pg. 2)
Non- Permanent Resident Aliens
Non- Purchasing Spouse Credit History
Non- Purchasing Spouse Debt
Non- Uniform Covenants
Non- Uniform Covenants: Paragraphs Subsequent to Paragraph 18
Non-Purchasing Spouses
Non-Traditional Credit Report (NTMCR) Requirements
Nonprofit Agency Secondary Financing
Nonprofit Organizations Not Meeting HUD Approval Requirements
Note as a Negotiable Instrument
Note Interest Rate for Older Borrowers
Note on Paragraph (c) Sentence 2
Note Requirements
Notes Receivable Income
Notice Failure for More Than One Year
Notification of Case Number Cancellation
Notification of Changes Affecting DE Approval Status
Notification of Withdrawal of DE Lender Status
O
Obligations Not Considered Debt
Obtaining a Copy of the Homestead Lease Issued by DHHL for a Section 247 Mortgage
Obtaining an MIC When There Is an Excessive Loan Amount
Obtaining Internet Access to CAIVRS
Obtaining Mortgage and Note Forms
Onsite and Remote Lender Monitoring Reviews
Open End Advances
Options for Form Modifications for ARMs
Organizations and Private Individuals Providing Secondary Financing
Other Fees and Charges
Other Housing Act Requirements
Other Lender Monitoring Tools
Other Loan Program Exhibits
Overtime and Bonus Income
Overview of FHA Single Family Mortgage Insurance Programs
Overview of the DE Lender Approval Process
Overview of the DE Program Lender Application and Approval Process
Overview of the FHA Connection
Overview of the Loan Submission and Endorsement Process
Overview of the Mortgage Loan Application and Insurance Endorsement Process
Owner Occupants Assuming Property as a Secondary Residence
P
P&L TOTAL Scorecard Accept/Refer Requirements
Paragraph 18 Instructions
Paragraph 18: Foreclosure Procedure
Part- Time Primary Employment
Partial Release of Security
Past Credit Performance
Paying off Collections and Judgments
Paying Unearned Fees
Payment Factors for Principal and Interest Payments
Payment of Consumer Debt Must Result in Sales Price Reduction
Payments Considered Inducements to Purchase
Percentage of Financing Available
Performance of Onsite and Remote Lender Monitoring Reviews
Perimeter Enclosures for Manufactured Homes
Permanent Loan Interest Rate
Permissible Borrower Secondary Financing
Permissible Geographic Areas
Personal Property Inducements
PETR Deficiency Codes
PETR Deficiency Codes
PETR Ratings
PETR Ratings
PETR Review Levels
PETR URS Data Entry Requirements
Planned Unit Development Rider Example (Pg. 1)
Planned Unit Development Rider Example (Pg. 2)
Policies for Loans Secured by Secondary Liens
Policies on Changes After Endorsement
Policies on Interest Rates and Related Fees
Policies on Prepayment
Policy Exceptions Regarding the Exclusion of Rental Income From a Principal Residence Being Vacated by a Borrower
Policy on Adding Repair and Improvement Costs to Sales Price
Policy on Assumptions
Policy on Closing Costs,
Policy on DE Approval Through a HOC Other Than the Local Field Office
Policy on DE Program Participation by Entities With a Possible Conflict of Interest
Policy on Imposing Sanctions
Policy on Loan Correspondents Closing a Loan
Policy on Sales Contracts
Policy on Subordinate Financing on Streamline Refinances Without an Appraisal
Policy on Subordinate Financing on Streamline Refinances Without an Appraisal
Policy on the Use of Indemnification Agreements
Policy on Withdrawing DE Lender Approval Status
Policy Prohibiting Documents Signed in Blank
Policy Prohibiting the Use of Documents Handled by Third Parties
Policy Requiring a Second Appraisal on High Balance Loans in Declining Areas
Policy Requiring Use of Comparables for Appraisal Reporting in Declining Markets
Post Endorsement Technical Review (PETR) Procedures
Post Endorsement Technical Reviews (PETRs)
Power of Attorney
Pre Closing (Test) Case Processing
Pre Closing (Test) Case Processing Overview
Pre Closing Test Cases
Pre- Closing Sanction Letter Text Format (Pg. 1)
Pre- Closing Sanction Letter Text Format (Pg. 2)
Pre- Closing Sanction Letter Text Format (Pg. 3)
Pre- Endorsement Review Approval/Rejectio n Checklist for HECM
Pre-Endorsement Checklist Exhibits
Premium Pricing on FHA- Insured Mortgages
Prepared By
Prepared By
Prepared By
Prepared By
Prepared By
Previous Mortgage Foreclosure
Prior Lender Sanctions
Process for Obtaining User IDs
Process for Referring a Case for Consideration of a Civil Money Penalty
Processing a Non Emergency Request for a Change in Home Location
Processing a Partial Release of Security Request
Processing a Release From Liability
Processing an EEM
Processing an Emergency Request for a Change in Home Location After Insurance
Processing and Underwriting Requirements
Processing Group Title Exceptions
Processing Requests for Waivers of Objection to Title
Program Identification Codes
Prohibited Payments and Loans
Prohibited Practices in Loan Terms & Conditions and Availability
Prohibited Practices in Making Loans
Prohibited Practices in the Selling, Brokering, or Appraising of Real Estate
Prohibition on Property Flipping
Projected Income for a New Job
Projected Obligations
Projecting and Collecting Real Estate Tax Payments
Properties in SHFA Ineligible for FHA Insurance
Properties With Defective Conditions
Property Eligibility for FHA Insurance
Property Eligibility Requirements Specific to Manufactured Homes
Property Eligibility Under Section 223(e)
Property Held in Living Trusts
Property Ownership Requirements and Restrictions
Property Related Acceptable Sources of Funds
Property Standards for Houses and MPR for Site Built and Manufactured Housing
Property Valuation and Appraisals
Providing Below Market/Non Interest Loans
Purpose
Purpose
Purpose
Purpose
Purpose
Purpose of a Mortgage Credit Analysis
Purpose of a Refinance Transaction
Purpose of a Streamline Refinance
Purpose of a Temporary Interest Rate Buydown
Purpose of FHA Mortgage Insurance Programs
Purpose of MIPs
Purpose of NTMCRs
Purpose of Onsite and Remote Lender Monitoring Reviews
Purpose of Property Valuation
Purpose of the EEM Program
Purpose of the FCRA
Purpose of the PETR
Purpose of the PETR
Purpose of the Pre Endorsement Review
Purpose of Underwriting
Purpose of Using Pre Closing (Test) Cases
Q
Qualifying Commission Income Earned for Less Than One Year
Qualifying Part- Time Income
Quality Control Plan
R
Re- Using an Appraisal
Real Estate Broker Fees
Real Estate Certification
Reasons for an Emergency Request for a Change of Location After Insurance
Reasons for Mandatory Rejection of a Borrower
Reasons for Returning a Lender to Pre Closing Review Status
Recent and/ or Undisclosed Debts and Inquiries
Reduction of Alimony Payment for Qualifying Ratio Calculation
Reference Chart: UFMIP and Annual MIP for Mortgages With Terms Less Than 15 Years
Reference Chart: UFMIP and Annual MIP for Mortgages With Terms More Than 15 Years
Refinance Authorization Numbers for FHA- to- FHA Refinances
Refinance Transaction Overview
Refinance Transactions on Manufactured Homes
Refinancing to a Shorter Term Mortgage
Refinancing to Buy Out Ex- Spouse or Coborrower Equity
Regulation B Requirement for Borrower Notification of Action Taken
Regulation B Time Limit for Borrower Notification
Regulations Governing Lender Insurance
Rehabilitation Loan Rider Example (Pg. 1)
Rehabilitation Loan Rider Example (Pg. 2)
Reinstatement of Case Numbers
Rejecting Charges and Fees
Rejection of "Existing" or Newly Constructed Property
Remitting UFMIP
Rent Credit
Rental Income
Rental Income From Borrower Occupied Property
Repair and Improvement Amount That Can Be Added to Sales Price
Repair and Improvement Exclusions
Repairs and Improvements
Repayment Terms for Secondary Mortgages
Reporting Fraud and Abuse
Reporting Requirements for Appraisals in Declining Markets
Request for Endorsement
Requesting a Hardship Exception
Requesting an FHA Case Number
Requesting and Downloading the MIC
Requesting Corrected and Duplicate MICs
Requests for an FHA Case Number
Requests to Amend an Application to Include Special Assessments
Required Borrower Disclosure
Required Borrower Evidence of Residence and Destruction
Required Credit Report Information
Required Demographic Information
Required Disclosure Statement When Initial Addendum Is Not Completed
Required Documents for Mortgage Credit Analysis
Required Elements of the Lender Pre Insurance Review
Required Information for the HERS Report
Required Inspection by HERS Representative
Required Inspections for New Construction Manufactured Homes
Required Insurance Amount
Required Language for the Amendatory Clause to the Sales Contract
Required Monthly Payment for Secondary Loans
Required Notice Content
Required Notifications on Rejected Borrowers
Required RMCR Information
Required Section 203(k) Documentation
Required TRMCR Borrower Credit- Related Information
Required TRMCR Format
Required Usage of a Credit Qualifying Streamline Refinance
Requirement for an Amendatory Clause to the Sales Contract
Requirement for HOC Determination of Undue Hardship
Requirement for HOC Establishment of a Lender Applicant File
Requirement for Issuing a Deficiency Letter
Requirement for Obtaining Firm Commitment
Requirement for Percentage of Cases Reviewed for DE Lenders Released From Probation Status
Requirement for Percentage of Cases Reviewed for Existing DE Lenders
Requirement for Percentage of Cases Reviewed for New DE Lenders
Requirement for PETRs on Loans From LI Program Participants
Requirement for Streamline Refinance Transactions
Requirement That DE Lenders Use FHA Connection
Requirement to Enter Appraisal Information Into FHA Connection
Requirement to Perform PETRs
Requirement to Provide HUD- 92564- CN to Borrower
Requirement to Register Underwriter in FHA Connection
Requirements for Case Binder Submission by a Lender Other Than the Originating Lender
Requirements for Case Binder Submission by a Lender With Conditional DE Approval
Requirements for Case Binder Submission for HUD/FHA Employee Cases
Requirements for Condominium Eligibility
Requirements for Insurance Check Endorsement by FHA
Requirements for Late Endorsement Request Certification
Requirements for LI Lender Pre Insurance Review
Requirements for Mortgage Loans Involving Lender Employees
Requirements for Nonprofit Approval by HUD
Requirements for Private Savings Clubs
Requirements for Properties in Special Flood Hazard Areas (SFHA)
Requirements for Rejected Loans
Requirements for Release Requests When FHA Approval Is Required
Requirements for Second Appraisals on High Balance Loans for Properties in Declining Areas
Requirements for Secondary Residences
Requirements for Sponsors of Loan Correspondents
Requirements for the Addition of a New Underwriter
Requirements for the HERS Representative
Requirements for the Transferring Lender
Requirements for Underwriting and Loan Application Documentation
Requirements of the ECOA and Regulation B
Requirements Regarding Donor Source of Funds
Requirements When a Borrower Is Rejected on the Basis of Credit Report Information
Requirements When There Are Delays in Uniform Case Binder Submission
Resales Occurring Between 91 Days and 12 Months Following Acquisition
Rescoring and Tolerance Levels
Residency Requirements
Residential Mortgage Credit Report (RMCR)
RESPA Prohibition of Duplicative Fees
Responsibility for Determining Property Eligibility in SFHA
Restriction on a Borrower Being a Co- Obligor on the Note Securing a Borrowed Down Payment
Restriction on Addition of Non- Occupant Coborrower for Credit Underwriting Compliance
Restriction on Advanced Mortgage Payments
Restriction on Borrower Cash Back at Closing on a Streamline Refinance With an Appraisal
Restriction on Collecting Payment Increases
Restriction on Investment Properties for Hotel and Transient Use
Restriction on Re- Sales Occurring 90 Days or Less After Acquisition
Restrictions of the HUD Reform Act of 1989
Restrictions on Non Residential Use
Restrictions on the Use of Non FHA-Approved Mortgage Brokers
Retirement Income
Reviewing HUD LDP and GSA Exclusion Lists
Reviewing Previous Rental or Mortgage Payment History
Revolving Account Monthly Payment Calculation
Rider for Section 247 Mortgage Example
Rider for Section 248 Mortgage Example (Pg. 1)
Rider for Section 248 Mortgage Example (Pg. 2)
Right Side of Binder Checklist
Risk Based Premiums for FHA Mortgage Insurance
Risk on Cash Out Refinancing for Debt Consolidation
Risk- Based Evaluation of Loans
Roles in the Principal/ Authorized Agent Relationship
S
Salary, Wage and Other Employment Related Income
Sale Must Be by the Owner of Record
Sale of Personal Property Documentation Requirement
Sanctions Against Individuals and Other Program Participants
Sanctions for False Certifications
Satisfying Repair Requirements
Savings and Checking Accounts
Savings Bonds
Second Appraisal Required on Properties Sold Between 91 and 180 Days After Acquisition
Secondary Financing by a Nonprofit Agency Considered an Instrumentality of the Government
Secondary Financing by a Nonprofit Agency Not Considered an Instrumentality of the Government
Secondary Financing Documentation Requirements
Secondary Financing for Borrowers 60 Years of Age and Older
Section 203(b) Home Mortgage Insurance
Section 203(b) Maximum LTV Ratios
Section 203(b) MIP Payment
Section 203(b) Mortgage Term
Section 203(b) Refinancing Policy
Section 203(b) Required Borrower Minimum Down Payment Policy
Section 203(b) Statutory Loan Limits
Section 203(h) Closing Costs and Prepaid Expenses
Section 203(h) Eligibility Requirements
Section 203(h) Example Scenarios and General Underwriting Guidance
Section 203(h) Home Mortgage Insurance for Disaster Victims
Section 203(h) Maximum Insurable Mortgage/ LTV Ratio
Section 203(h) Maximum Mortgage Amounts
Section 203(h) Minimum Borrower Cash Investment
Section 203(h) Mortgage Term
Section 203(h) Refinancing Policy
Section 203(h) Underwriting Guidance
Section 203(i) Home Mortgage Insurance for Outlying Areas
Section 203(i) Maximum Insurable Mortgage
Section 203(i) Minimum Borrower Down Payment
Section 203(i) MIP Payment
Section 203(i) Mortgage Term
Section 203(i) Refinancing Policy
Section 203(i) Statutory Loan Limit/ LTV
Section 203(k) Collection of a Supplemental Origination Fee
Section 203(k) Eligibility for Insurance Before Rehabilitation Begins
Section 203(k) Eligible Improvements
Section 203(k) Financing Percentages
Section 203(k) Maximum Insurable Mortgage
Section 203(k) Minimum Borrower Down Payment
Section 203(k) MIP Payment
Section 203(k) Mortgage Term
Section 203(k) Refinancing Policy
Section 203(k) Rehabilitation Home Mortgage Insurance and Streamlined Limited Repair Program
Section 203(k) to Section 203(b) Refinancing
Section 203(n) Minimum Borrower Investment
Section 203(n) MIP Payment
Section 203(n) Mortgage Term
Section 203(n) Occupancy Requirements
Section 203(n) Refinancing Policy
Section 203(n) Single Family Cooperative Program
Section 203.49 (c) Regulation on Setting Interest Rates
Section 220 (d)(3)(A) Urban Renewal Mortgage Insurance
Section 220(d)(3)(A) Area Eligibility Policy
Section 220(d)(3)(A) LTV Ratios
Section 220(d)(3)(A) Maximum Insurable Mortgage
Section 220(d)(3)(A) Minimum Borrower Down Payment
Section 220(d)(3)(A) MIP Payment
Section 220(d)(3)(A) Mortgage Term
Section 220(d)(3)(A) Refinancing Policy
Section 220(d)(3)(A) Statutory Loan Limits
Section 220(h) Insured Improvement Loans Urban Renewal
Section 220(h) Maximum Insurable Mortgage
Section 220(h) Minimum Borrower Investment
Section 220(h) MIP Payment
Section 220(h) Mortgage Term
Section 220(h) Property Eligibility Policy
Section 220(h) Refinancing Policy
Section 223(e) Maximum Insurable Mortgage
Section 223(e) Minimum Borrower Investment
Section 223(e) MIP Payment
Section 223(e) Miscellaneous Housing Insurance
Section 223(e) Mortgage Term
Section 223(e) Property Eligibility Policy
Section 223(e) Refinancing Policy
Section 233 Maximum Insurable Mortgage
Section 233 Minimum Borrower Investment
Section 233 MIP Payment
Section 233 Mortgage Insurance for Experimental Housing
Section 233 Mortgage Term
Section 233 Property Eligibility Policy
Section 233 Refinancing Policy
Section 234(c) Borrower Eligibility Policy
Section 234(c) Maximum Insurable Mortgage
Section 234(c) Minimum Borrower Investment
Section 234(c) MIP Payment
Section 234(c) Mortgage Insurance for Condominium Units
Section 234(c) Mortgage Term
Section 234(c) Project Eligibility Policy
Section 234(c) Refinancing Policy
Section 235 to Section 203(b) Refinancing
Section 238(c) Application Eligibility
Section 238(c) Area Eligibility Policy
Section 238(c) MIP Payment
Section 238(c) Mortgage Insurance in Military Impacted Areas (MIAs)
Section 245(a) GEM Minimum Borrower Investment
Section 245(a) GEM MIP Payment
Section 245(a) GEM Mortgage Term
Section 245(a) GEM Refinancing Policy
Section 245(a) GPM Maximum Insurable Mortgage
Section 245(a) GPM MIP Payment
Section 245(a) GPM Mortgage Term
Section 245(a) GPM Refinancing Policy
Section 245(a) Graduated Payment Mortgages (GPMs) and Growing Equity Mortgages (GEMs)
Section 247 Borrower Eligibility Policy
Section 247 MIP Payment
Section 247 Property Eligibility Policy
Section 247 Refinancing Policy
Section 247 Single Family Mortgage Insurance on Hawaiian Home Lands (HHL)
Section 248 Eligibility Policy
Section 248 Policy on Eviction Procedures
Section 248 Refinancing Policy
Section 248 Single Family Mortgage Insurance on Indian Lands (IL)
Section 251 Adjustable Rate Mortgages (ARMs)
Section 251 Interest Rate Adjustment Frequency
Section 251 Interest Rate Governing Index
Section 251 Maximum Insurable Mortgage
Section 251 Minimum Borrower Investment Policy
Section 251 MIP Payment
Section 251 Mortgage Term
Section 251 Property Eligibility Policy
Section 251 Refinancing Policy
Section 251 Required Disclosures
Section 255 Borrower and Property Eligibility Policy
Section 255 Home Equity Conversion Mortgage (HECM)
Section 255 MIP Payment
Section 255 Plan Payments and Interest Rates
Section 255 Refinancing Policy
Section 8 Home Ownership Vouchers
Sections of the Lender Performance Report
Security Instrument and Note Signature Requirement
Seek Guidance From the HOC for Corrections to Original Instruments
Seller Concessions and Verification of Sales
Sending the Adjustment Notice
Sending the Letter
Sending the Letter
Sending the Sanction Letter
Services and Facilities Standards
Services That May Be Provided by a Non FHA Approved Broker
Settlement Requirements
Settlement Requirements Needed to Close
Seven Unit Exemptions
Seven Unit Limitation for Investors
Seven Unit Limitation for Investors
Signature Requirements and Use of Power of Attorney for Application Forms
Signature Requirements at Loan Closing
Signatures
Signing and Dating Mortgage Insurance Applications
Signing in Blank
Signing Mortgage Loan Application Forms
Site Condition Standards
Site Condominiums Requirements
Skipped Payments Are Not Acceptable
Social Security Income
Source of Buydown Funds
Special Requirements for Indian Reservations
Special Requirements for Iowa, North Dakota, and Wisconsin
Special Requirements for New Mexico
Special Requirements for New York
Special Requirements for New York and Maine
Special Requirements for Northern Mariana Islands
Special Requirements for Pennsylvania
Special Requirements for Puerto Rico
Special Requirements for South Dakota
Special Requirements for Texas
Special Underwriting
Special Underwriting Instructions
Special Underwriting Requirements for HECMs
Specific Loan Origination Functions and Services That Must Be Provided by an FHA Approved Lender or Broker
Specific Requirements for Market Trend Data Sources
Specific Requirements for Reporting Comparable Listings/ Pending Sales for Appraisals in Declining Markets
Specific Requirements of the Fair Housing Policy
Stability of Income
Statutory and Regulatory Requirements
Statutory Loan Limits
Stocks and Bonds
Streamline Refinance Borrower and Property Related Requirements
Streamline Refinances
Streamline Refinances For Non Owner Occupant Properties
Streamline Refinances With an Appraisal (No Credit Qualifying)
Streamline Refinances Without an Appraisal
Streamline Refinancing Mortgage Limits
Submission by Assignee in the Name of the Originating Lender
Submission of Case Binders by Lenders Participating in the LI Program
Submission Requirement for All Approved Lenders
Submitting a Request for Certificate of Eligibility on a Section 247 Mortgage
Submitting a Test Case Closing Package
Subordinate Liens
Subordinate Liens and CLTV Ratios on Cash Out Refinances
Summary of Required Loan Documents Unique to the Section 247 Program
Sweat Equity Considered a Cash Equivalent
System Code and Error Exhibits
T
Targeting Lenders for PETRs
Tax Exempt Financing
Tax Liens Affecting Eligibility for Federally Related Credit
Tax- Exempt Financing Rider Example (Pg.1)
Tax- Exempt Financing Rider Example (Pg.2)
Temporary Interest Rate Buydowns
Temporary Interest Rate Buydowns
Term of an Appraisal
Term of the Firm Commitment or Underwriter's Approval
Term of the Firm Commitment or Underwriter's Approval of the Borrower
Termination of LI Approval
Terminology Use in This Section
Termite Control for Manufactured Homes
Terms and Definitions
Terms of an Indemnification Agreement
Test Case Review Documentation Requirements
The Fair Housing Act
Three and Four Unit Property Mortgage Limit
Three and Four Unit Property Mortgage Reserves
Three Repository Merged Credit Report (TRMCR)
Timeframe for Case Binder Receipt by the HOC
Timeframe for Processing Pre Closing (Test) Cases
Timeframe for Start of Amortization
Timeframe for Submission of Loan Application
Timeframe for Submitting the Uniform Case Binder
Timing of Loan Closing and Insurance
Timing of the New Monthly Payment
Title Exceptions
Title Exceptions not Covered by the General Waiver
Title Insurance
Title Issues for Manufactured Homes
Total Fixed Payment to Effective Income Ratio
TOTAL Scorecard Accept/Refer Feedback Certificate for VOE
TOTAL Scorecard Accept/Refer Recommendation
TOTAL Scoring Recommendations
TOTAL User Guide
Tracking ARMs
Trade Equity
Trade- In of Manufactured Home
Transactions Affecting Maximum Mortgage Calculations
Transactions Involving Properties for Proposed Construction, Under Construction or Existing Construction Less Than One Year Old
Transactions Involving Three and Four Unit Properties
Transferring Case Numbers Between Lenders
Transfers of Servicing Among Lenders
Treatment of Amounts Exceeding Contribution Limit
Trust Income
Two Acceptable Index Types
Two Phases of the DE Lender Approval
Types of ARMs Insured by FHA
Types of Business Structures
Types of Changes Requiring Prior FHA Approval
Types of Lender Monitoring Tools
Types of Lender Sanctions
Types of Lender Sanctions
Types of Loan Endorsement Reviews
Types of MIPs
Types of MIPs Collected by FHA
Types of Mortgage Insurance Programs
Types of Neighborhood Watch Reports
Types of Non Taxable Income
Types of Permissible Streamline Refinances
Types of Personal Property
Types of Prepaid Items (Including Per Diem Interest)
Types of Recurring Obligations
Types of Refinances
Types of Repairs
Types of Sales Concessions
Types of Sanctions
Types of Traditional Credit Reports
Types of Transactions
U
UFMIP 5 Year Refund Schedule
UFMIP 7 Year Refund Schedule
UFMIP Amount
UFMIP Amounts
UFMIP Late Fees and Interest
UFMIP Payment Policy
UFMIP Refunds
Unconditional Approval Accepted by Other HOCs
Unconditional Direct Endorsement (DE) Approval Letter Text Format
Underwriter Qualification Criteria and Responsibilities
Underwriter Qualifications
Underwriter Responsibilities
Underwriting Considerations on Investment Properties
Underwriting Criteria for Non Occupying Borrowers
Underwriting Guidance for Borrowers With Insufficient Credit
Underwriting Overview
Underwriting Report System (URS) Reports
Underwriting Requirements for Qualifying the Borrower
Underwriting the EEM
Uniform Case Binder Requirements
Uniform Covenants
Uniform Covenants
Up Front Mortgage Insurance Premiums (UFMIPs)
Up- Front Mortgage Insurance Payments
URS Report Requests and Retrieval
Use of a Power of Attorney for Mortgage Loan Application Execution
Use of an AUS
Use of an NTMCR When There Is Insufficient Credit Report Information
Use of Appraisals
Use of Copies in the Uniform Case Binders
Use of Indemnification Agreements
Use of Mortgage Lender Staff Appraiser and Inspector
Use of Mortgage Lender Staff Underwriter
Use of Non- Traditional Credit Reports
Use of the Engineer's Certification on Foundation Compliance for Manufactured Homes for Future Loans
Use of the Principal/Authorized Agent Relationship
Use of Truncated Social Security Numbers on Credit Reports (Reference)
Use of Truncated SSNs on Credit Reports
Use of Warehouse Lines- of- Credit for Construction Permanent Loans on Manufactured Homes
User ID Requirement and Types of IDs
Using a Signed Initial URLA and Addendum
Using Additional Language
Using CAIVRS to Determine Eligibility for FHA-Insured Mortgage Transactions
Using Current Leases to Analyze Rental Income
Using Down Payment Assistance Programs
Using Equity When Building on Own Land
Using Equity When Paying Off Land Contracts
Using Mortgage Riders/Note Allonges for Special Circumstances
Using Section 203(k) With 203(h) for Rehabilitation Mortgages
Using Self Adhesive Labels
V
v203(h) MIP Payment
v203(n) Maximum Insurable Mortgage
VA Benefits
Valid First Liens
Variations in the Property Appraisal and Underwriting Process
Verification Form Authorization
Verification of Compliance With Property Requirements
Verification of Deposit
Verification of Employment and Asset Information Sent Via Fax or Internet
Verification of UFMIP Payment Prior to Insurance
Verifying a Borrower's Financial Position
Verifying and Documenting Non Traditional Credit Providers
Verifying Borrower Credit Information
Verifying Cash Saved at Home
Verifying Employment History
Veteran Eligibility Documentation Requirements
VOD/VOE Authenticity
W
Waiting Period for Borrowers With Past Delinquencies and Defaults
Waiting Period for Borrowers With Past Delinquencies and Defaults
Waiver of Objections to Title
Water Purification Equipment Rider Example (Pg. 1)
Water Purification Equipment Rider Example (Pg. 2)
What FHA Insures
What FHA Will and Will Not Insure
What Is Included in the Monthly Payment Calculation for Three and Four Unit Properties
What Is Secondary Financing?
When an LI Lender May Need to Submit a Case Binder
When an RMCR Is Required
When Energy Related Items Cannot Be Completed Prior to Closing
When FHA Approval Is or Is Not Required for a Partial Release of Security
When the Real Estate Certification Is Not Needed
When to Submit DE Cases
When Unacceptable Underwriting Is Demonstrated on the 15 Test Cases
When Use of an NTMCR Is Not Permitted
When Work Differs From the Approved Energy Package
Where to Access FHA Connection
Who Can Hold a Secondary Lien
Who Can Provide a Gift
Who Can Provide Collateralized Loans
Who Cannot Provide a Gift
Who Completes the Mortgage Loan Application
Who Determines if an Assumptor Is Creditworthy
Who Imposes a Civil Money Penalty
Who Is Eligible for FHA Mortgage Insurance
Who May Close and Fund
Who May Perform an Appraisal
Who May Perform the Underwriting and Appraisal
Who May Receive a Civil Money Penalty
Who Processes HUD Employee Applications
Who Requests Indemnification
Who Signs the Addendum
Withdrawal Letter Text Format
Withdrawal of Direct Endorsement (DE) Authority
Withdrawn Condominium Approvals
Written Verification of the Age of Mortgage Loan Application Documents
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