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Types of Approved Mortgagees | FHA Handbook
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Types of Approved Mortgagees. HUD Handbook 4000.1. Types of Approved Mortgagees. Types of Approved Mortgagees. FHA approves Mortgagees as one of the following four types: Supervised, Nonsupervised, Government, or Investing. A Supervised Mortgagee must meet the general approval requirements set forth below. A Supervised Mortgagee may originate, underwrite, close, endorse, service, purchase, hold, or sell FHA-insured Mortgages. A Nonsupervised Mortgagee is a lending institution that has as its principal ac...
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Direct Endorsement Underwriters | FHA Handbook
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HUD Handbook 4000.1. This section of the FHA Single Family Housing Policy Handbook covers the eligibility requirements for Direct Endorsement (DE) Underwriters who participate in the program. The following information was adapted from HUD Handbook 4000.1 and is effective 03/14/16. Effective for case numbers assigned on or after March 14, 2016. Calculation of maximum mortgage amounts;. Underwriting the Property; and. Underwriting of the Borrower. The DE Underwriter also serves as the Mortgagee’s sub...
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General Mortgage Insurance Eligibility | FHA Handbook
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General Mortgage Insurance Eligibility. HUD Handbook 4000.1. General Mortgage Insurance Eligibility. General Mortgage Insurance Eligibility. Effective for case numbers assigned on or after September 14, 2015. Included in this section are:. Iv Property Eligibility and Acceptability Criteria. V Legal Restrictions on Conveyance (Free Assumability). A) Purchase/Construction to Permanent. 1) 203(k) Standard and Streamlined Rehabilitation Mortgages. 2) 203(h) and 203(k) for Disaster Victims. The Section 203(h)...
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Post-Approval Changes | FHA Handbook
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HUD Handbook 4000.1. Effective September 14, 2015. The Mortgagee has an ongoing requirement to notify FHA of any changes to the information outlined in its application for FHA approval or in FHA’s eligibility requirements. A Requirements for All Post-Approval Changes. I Types of Notification. A) Information Update An Information Update is any change to a Mortgagee’s basic institution or branch information in the FHA systems that can be directly managed by the Mortgagee. The Mortgagee must submit all Info...
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203(k) Consultants | FHA Handbook
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HUD Handbook 4000.1. This section of the FHA Single Family Housing Policy Handbook explains the application and certification process for FHA 203(k) consultants, as well as the process for recertification. The following information was adapted from HUD Handbook 4000.1 and is effective 03/14/16. A 203(k) Consultant Roster. Effective for case numbers assigned on or after March 14, 2016. B Application and Approval Process. Included in this section are:. Ii Submitting the Application. The General Services Ad...
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Nonprofits and Governmental Entities | FHA Handbook
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Nonprofits and Governmental Entities. HUD Handbook 4000.1. Nonprofits and Governmental Entities. This section of the FHA Single Family Housing Policy Handbook deals with Nonprofits and Governmental Entities that do business with the FHA. The following information was adapted from HUD Handbook 4000.1 and is effective 03/14/16. Effective for case numbers assigned on or after March 14, 2016. Included in this section are:. I Types of Single Family Nonprofit Programs. 2) Exclusive Listing Period Governmental ...
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Annual Recertification | FHA Handbook
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HUD Handbook 4000.1. This section of the FHA Single Family Housing Policy Handbook (HUD Handbook 4000.1) deals with the annual recertification process for mortgagees who participate in the FHA loan program. The following information was adapted from HUD Handbook 4000.1 and is effective September 14, 2015. A) Recertification Process To retain its FHA approval, a Mortgagee must, unless otherwise noted, complete FHA’s recertification process on an annual basis. Iii Exception for Recently Approved Mortgagees.
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Origination / Processing: Applications and Disclosures | FHA Handbook
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Origination / Processing: Applications and Disclosures. HUD Handbook 4000.1. Origination / Processing: Applications and Disclosures. A Applications and Disclosures (09/14/15). Effective for case numbers assigned on or after September 14, 2015. Included in this section are:. I Contents of the Mortgage Application Package. Ii Disclosures and Legal Compliance. Iii Application Document Processing. I Contents of the Mortgage Application Package. If after obtaining all documentation required below, the Mortgag...
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Application and Eligibility Requirements for Approval | FHA Handbook
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Application and Eligibility Requirements for Approval. HUD Handbook 4000.1. Application and Eligibility Requirements for Approval. This section of the Single Family Housing Policy Handbook covers application and eligibility requirements for approval. A Title I and Title II Program Applications. An applicant for FHA approval may apply for Title I and Title II approval separately or in the same application.3. Contact information (the primary contact information for all inquiries related to the application);.
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Types of Program Approvals | FHA Handbook
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Types of Program Approvals. HUD Handbook 4000.1. Types of Program Approvals. Types of Program Approvals. Effective September 14, 2015. FHA approves Mortgagees separately for participation in the Title I and Title II programs. FHA approval is conveyed to a specific legal Entity and cannot be shared with or extended to other Entities, such as a parent or subsidiary, or any Affiliates of the Mortgagee. A Title I (09/14/15). Included in this section are:. B Title II (09/14/15). A Title II Mortgagee is a Mort...