The document provides information on FHA loan origination through Fairway Wholesale Lending, including eligibility requirements for borrowers, acceptable sources of down payment and closing costs, maximum loan-to-value ratios and mortgage insurance premiums for different FHA refinance transaction types. Guidelines are presented on FHA underwriting criteria such as credit history, income, assets, occupancy, and citizenship status.

1. FAIRWAY
Wholesale Lending
A Division of Fairway Independent Mortgage Corporation
FHA Loan Origination
FHA Loan Origination
203(b) and 234 (c) Program
1

2. Why choose an FHA loan?
Many homebuyers today either do not have sufficient cash-to-close or they
do not meet the qualifying guidelines for conventional financing. FHA is
more lenient and forgiving when a borrower has credit issues. They also
allow the borrower to have more acceptable sources of down payment and
monthly income, as well as higher qualifying ratios.
HUD was created to help low-moderate income families. It has evolved
today for:
First-time home buyers
Borrowers with minimum established credit
Families who have had some credit problems but have overcome their problems and
are now credit-worthy
Fairway's FHA sponsorship requirements
No audited financial statements required for 2010 and beyond
!II Self prepared financial statements acceptable
!II Only a $25,000 minimum net worth required or state requirement, whichever is greater
II Sole Proprietors and Partnerships and LLC's with one owner/member
Home office allowed
iii A four (4) hour "FHA Loan Origination" training course is required for broker/partners
with little or no FHA lending experience
2

3. Definitions
Lender =Broker
4155.1
Discusses the types of transactions and properties eligible for
mortgage insurance, and FHA's requirements for determining the
borrower's ability and willingness to repay the debt. These underwriting
guidelines apply to mortgages insured under Sections 203(b) and 234(c) of
the National Housing Act, and are generally applicable to other single-family
mortgage insurance programs.
Mortgage References, Inc (MRI Quick Reference Guide)
This publication is designed to provide, only, a "user friendly" reference for
the everyday questions and issues that arise in the work of originating,
processing, and underwriting one to four-family FHA-insured mortgages
Definitions
Direct Endorsement (DE)
Direct Endorsement (DE) is the mechanism that enables HUD-Federal
Housing Administration (FHA)-approved lenders to consider single-family
mortgage applications without first submitting paperwork to HUD. The
purpose of the DE program is to simplify and expedite the process by which
lenders can obtain mortgage insurance endorsements from HUD. Under
FHA's Direct Endorsement (DE) program, approved Lenders may
underwrite and close mortgage loans without prior FHA review or approval.
The *Iender assumes responsibility for the obligation of the mortgage loan
without prior HUD review. This includes all aspects of the mortgage loan
application, the property analysis and borrower underwriting.
*Note: This assumes that the lender is a DE lender with unconditional
approval
3

4. Definitions
Technology Open To Approved Lenders (TOTAL) Mortgage Scorecard
FHA's TOTAL Mortgage Scorecard evaluates the overall creditworthiness
of the applicants based on a number of credit variables and, when
combined with the functionalities of the Automated Underwriting Systems
(AUS), indicates a recommended level of underwriting and documentation
to determine a loan's eligibility for insurance by FHA. Taken together,
TOTAL and AUS either conclude that the borrowers' credit and capacity for
repayment of the mortgage are acceptable or will refer the loan application
to a Direct Endorsement (DE) underwriter for further consideration and
review. It is FHA's policy that no borrower be denied a FHA-insured
mortgage solely on the basis of a risk assessment generated by the TOTAL
mortgage scorecard.
Eligible Borrowers
Borrower(s) meeting minimum age per state requirements
Non-occupant co-borrower(s)
CJ Limited to one unit property only
CJ Non-occupant co-borrower(s) may NOT be allowed on a Cash-Out
refinance
CJ "Kiddie Condos" are also eligible (owned by parents)
II Non-purchasing spouse
Military Personal
III Permanent resident alien
III Non-permanent resident alien
4

5. N on Occupying Borrowers aka "I<iddie Condo"
• Borrower(s) related by blood, marriage, or law, such as
1:1 spouses
1:1 parent-child
1:1 siblings
1:1 stepchildren
1:1 aunts-uncles
1:1 nieces-nephews, or
Unrelated individuals that can document evidence of a family-!ype, longstanding
and substantial relationship not arising out of the loan transactIon.
Refer to Section 603.02 pages 88-89 in the MRI Quick Reference Guide
See Attachment #1 - Guidelines from the HUD 4155.1 Chapter 2, Section B.3.a
Citizenship and Immigration Status
Lawful permanent resident alien - FHA insures mortgages using the same
terms and conditions as those for U.S. citizens. The mortgage file must
o include evidence of the permanent residency, and
o indicate that the borrower is a lawful permanent resident alien on the Uniform
Residential Loan Application (1003)
III Non-permanent resident alien - FHA insures mortgage made to non­
permanent resident aliens provided that the
o property will be the borrower's principal residence
o borrower has a valid SSN, and
o borrower is eligible to work in the U.S., as evidenced by an Employment
Authorization Document (EAD) issued by the U.S. Citizenship and Immigration
Services (USCIS)
Refer to Section 601.02 page 75 in the MRI Quick Reference Guide
See Attachment #2 - Guidelines from the HUD 4155.1 Chapter 4, Section A.3.a
5

6. FHA Maximum LTV Quick Summary Matrix
Transaction Type Maximum LTV
III Purchase II 96.5% (3.5% down payment)
III Rate and Term Refinance III 97.75%
III Streamline Refinance WITH III Lower of 97.75% or max loan
Appraisal amount calculation
Streamline Refinance WITHOUT N/A - Max loan amount
Appraisal calculation applies
Cash-Out Refinance 85.0%
Second Home Ineligible
Investment Property Ineligible
FHA allows One-Io-Four Family Living UnHs
Down Payment Requirements
The FHA down payment requirement is 3.5%
CJ Borrower(s) own funds
CJ 100% gift from a family member, relative etc. (see Gift
slide)
CJ Secured borrowed funds (see Secondary Financing slide)
III Sale Price X 96.5% = Base Loan Amount
Sales Price X 3.5% = Minimum Down Payment
6

7. Down Payment Requirements
Assuming a $100,000 sale price
1. What is the down payment?
2. What is the minimum amount the borrower must have in the
transaction?
If the seller is willing to contribute $1,500 towards closing
costs, and closing costs are $2,800, what is the borrower's
cash to close without prepaid expenses?
Down Payment Requirements
Assuming a $100,000 sale price answers
1. What is the down payment? $3,500
2. What is the minimum amount the borrower must
have in the transaction? $3,500
3. If the seller is willing to contribute $1,500 towards
closing costs, and closing costs are $2,800, what is
the borrower's cash to close without prepaid
expenses? $4,800
Down payment ($3,500) + Closing Costs ($2,800) - Seller
=
Contribution ($1,500) $4,800
7

8. An outright gift of cash investment is acceptable if the donor is:
The borrower's relative
The borrower's employer or labor union
A charitable organization
A government or public agency that has a program providing ownership
assistance to:
o Low and moderate income families or
o First-time homebuyers
A close friend with a clearly defined and documented interest in the
borrower
Refer to Section 302.03 and 302.04 in MRI Quick Reference Guide
Secondary Financing - Family Jlember
FHA permits lending from family members on a secured or unsecured
basis, up to 100% of the borrower's required funds to close. This may
include the down payment, closing costs, prepaid expenses and discount
points. If the loan from the family member, whether borrowed from an
acceptable source or the family member's own savings, is secured by the
subject property, only the family member provider may be the note holder.
FHA will not approve any form of securitization of the note that results in
any entity other than the family member being the note holder, whether at
settlement or at any time during the mortgage life cycle.
Refer to Section 303.04 pages 50-51 in the MRI Quick Reference Guide
8

9. FHA Refinances
Benefits of FHA Refinances
Q streamline with or without an appraisal
Q higher LTV limits on RatefTerm refinance (up to 97.75%)
Q higher LTV limits on Cash out refinance
Q allows for higher Oebt-to-Income ratios
Q liberal credit requirements
New FHA Refinance Transactions guidelines per Mortgage
Letter 2011-11. See Attachment # 3.
FAQ's on Mortgagee Letter 2011-11. See Attachment #4.
FHA Refinances
UFMIP Refunds
As of December 8, 2004, on FHA loans where an UFMIP was paid are no
longer
eligible for refunds. The only exception is that refunds of UFMIP
premiums
available to borrowers refinancing to another FHA-insured mortgage
(streamline)
within a tl UI)front Mortgage mlnnce Premiun Refund Percentages
Month of Year
Year 1 2 3 4 5 6 1 8 9 10 11 12
1 80 78 76 74 72 70 68 66 64 62 60 58
2 56 54 52 50 48 48 44 42 40 38 36 34
3 32 30 28 26 24 22 20 18 16 14 12 10
- - - ..._..... ~-.".-. ,­ _ _.-.
... __...'-­ ___ eo_
9

10. FHA Refinances
Maximum CLTV for Refinances
Rate and Tenn (or No Cash·Out) 97.75%
Refinances to borrowers in Negative Equity Position'" (Not eligible for Fairway Wholesale Lending) 115%
FHA·to-FHA Streamline with or without appraisal (Not eligible for Fairway Wholesale Lending) 125%
Cash-Out 85%
* This refinance option is only available through December 31,2012
FHA Maximum Mortgage Limits
Mortgage limit for any given area shall be set at 115% of the median house
price in that area set by HUD
III Minimum FHA loan limit: =$271,050
(Conforming limit of $417,000 X 65% = $271,050)
See Attachment # 5 - List for Illinois
Available at HUD website
https:/Ientp.hud.gov/idapp/html/hicost1.cfm
10

11. FHA Mortgage Insurance Premiums
On all FHA loans, Mortgage Insurance Premium (MIP) is required.
upfront mortgage insurance premium (UFMIP), and
annual insurance premium, which is collected in monthly installments
Upfront MIP (UFMIP): Effective for loans with case numbers assigned on
or after 10/4/2010, FHA has lowered its upfront MIP to 1% for:
purchase money transactions, and
refinance transactions, including
:J FHA-to-FHA credit qualifying refinances, and
:J non-credit qualifying streamlined refinanced transactions. (Fairway
requires a 640 minimum FICO score)
=
Base Loan Amount X factor (1%) Upfront MIP
See Attachment # 6 for FHA Mortgage Insurance Premiums Matrix
FHA Mortgage Insurance Premiums
Annual Insurance Premiums: An annual premium, as shown in basis
pOints on Attachment #4 , to be remitted on a monthly basis, will be charged
based on the initial LTV ratio and length of the mortgage term as shown on
Attachment #4
=
Base Loan Amount X factor divided by 12 Monthly MIP
The Upfront MIP and Monthly MIP are always calculated on the base loan
amount after the down payment. The Upfront MIP (UFMIP) can be
financed back into the base loan amount, rounded down to the nearest $1.
See Attachment # 6 for FHA Mortgage Insurance Premiums Matrix
11

12. Mortgage Insurance Premiums
For Mortgages with ... The annual MIP is ...
terms more than 15 years cancelled when the LTV ratio
reaches
78%, provided the borrower
has paid
terms 15 years and less and LTV
ratios of 90% and greater the annual MIP for at least five
years
terms 15 years and less and LTV cancelled when the LTV ratio
ratios of 89.99% and less reaches
78%, regardless of the length
Mortgage Insurance Premiums
FHA determines when a borrower has reached 78% LTV ratio based on the
lesser of the
Sales price, or
Appraised value at origination (new appraised values will not be
considered)
Example: If the lesser of the sales price or appraised value is $100,000, when
the loan amount reaches $78,000 FHA no longer collects an annual MIP on
the loan.
12

13. FHA Mortgage Insurance Premiums
Assuming a $100,000 sales price with a minimum down payment
What is the Base Loan Amount?
What is the UFMIP?
What is the Monthly MIP?
FHA Mortgage Insurance Premiums
Assuming a $100,000 sales price with a minimum down payment and a
30 year fixed rate product.
What is the Base Loan Amount? $100,000 X 96.5% =$96,500
What is the UFMIP? $96,500 X 1% =$965.00
3. What is the Monthly MIP? $96,500 X .90% divided by 12 =$72.38 (Do
NOT drop the cents)
Base Loan Amount + UFMIP =Total Loan Amount
=
$96,500 + $965 $97,465
13

14. Closing Costs and Seller Contribution Limit
Closing Costs
III Closing costs must be "reasonable" for services provided
III Cannot charge the borrower a "Tax Service" fee (it must be paid by seller or
lender)
ill Can only charge ACTUAL third-party fees
Seller Contribution
III Allows 6% for interested third parties such as Sellers, Real Estate Agents,
Builders, Developers or a combination of parties
May contribute up to 6% of the property's sales price toward the buyer's
actual closing costs, prepaid expenses, discount points, Buy-down fees,
Upfront MIP, 1st year advance payments of property taxes, HOA dues, all
escrow items (taxes, hazard insurance, flood insurance) and other financing
concessions
Closing Costs and Seller Contribution Limit
Assume a $100,000 sales price a minimum down payment, 30 year fixed at
4.75% interest and a seller contribution of $2,000 towards closing costs.
Closing costs are $3,200. Real Estates taxes are 1.5% of sales price.
Homeowners insurance is $480 annually. Prepaids are calculated at 1% of
sales price. Remember to round down the base loan amount to the nearest $1.
Base Loan Amount $ 96,500 Total Loan Amount $97,465
P&I 508.42 Down payment $ 3,500
RE taxes 125.00 Closing Costs 3,200
HOI 40.00 Prepaids 1,000
Monthly MIP 72.38 Discount pOints __ 0
Total Cash to Close $ 7,700
PITI: $ 745.80 Minus Seller Contribution
2,000
Borrower Cash to Close $ 5,700
14

15. Qualifying Ratios
II Standard qualifying ratios are PITI to Income of 31% (front) and Total Debt to
Income of 43% (back)
II Fairway Overlay - up to 55% (back) with AUS "Accept/Approve"
Energy Efficient Homes (EEH) - 33% (front) and 45% (back) when borrower is
purchasing or refinancing an EEH (Fairway does not allow for EEH)
Cash Reserves
II No cash reserves required for 1-2 units properties
iii Three (3) months PITI reserves required for 3-4 unit properties
o Cash reserves may come from gift and secondary financing
15

16. Credit
Fairway Overlays
III Requires a minimum of two reported credit scores for each borrower
III 640 is the minimum FICO score requirement, including all streamline refinances
• Non-traditional credit is not eligible
III Foreclosure
o If foreclosure was due to documented/proven hardship, then:
,. If seasoned> 36 months but = < 84 months, maximum LTV is 90%
,. If seasoned> or = 84 months, standard down payment policies apply
o If foreclosure was due to financial mismanagement, borrower must have a
minimum of 84 months seasoning and re-establish credit
Judgments must be paid in full or evidence of a satisfactory repayment plan must be
verified for a minimum period of 12 months.
Collections do not require payoff unless it is determined that the first lien position
could be potentially affected by future legal action. Analysis of credit history to be
determined by the DE Underwriter
See Attachment # 7 - HUD 4155.1 Chapter 4, Section C.2.d-e.
Refer to Section 402 pages 55-56 in the MRI Quick Reference Guide
Compensating Factors
Documentation: Compensating factors that are used to justify approval of
mortgage loans with ratios that exceed benchmark guidelines must be recorded
on the Underwriter Comments section of form HUD-92900-LT, FHA Loan
Underwriting and Transmittal Summary. Any compensating factor used to
justify mortgage approval must be supported by documentation.
Total Scorecard Accept Recommendation. The TOTAL Scorecard Accept
recommendation does not require documented compensating factors, even if
qualifying ratios have exceeded FHA benchmark guidelines.
Benchmark Guidelines: Attachment # 8 (HUD 4155.1 Chapter 4, Section
F.3.b) describes the compensating factors that may be used to justify approval
of mortgage loans with ratios that exceed FHA benchmark guidelines.
Refer to Section 405.02 pages 62-63 in the MRI Quick Reference Guide
16

17. Bankruptcy and Credit Counseling
Page 1 of2
• Chapter 7 Bankruptcy does not disqualify a borrower 'from obtaining an
FHA-insured mortgage, if at least two years have elapsed since the date of
the discharge of the bankruptcy. During this time, the borrower must:
Q Have re-established good credit (no derogatory credit) or
Q Chosen not to incur new credit obligations
See attached HUD 4155.1 Chapter 4, Section C.2.g
Chapter 13 Bankruptcy does not disqualify a borrower from obtaining an
FHA-insured mortgage, provided that the lender document that:
u One year of the pay-out under bankruptcy has elapsed and
u The borrower's payment performance has been satisfactory
u And all required payments have been made on time
Note: The borrower must receive written permission 'from the court to enter
into the mortgage transaction
Bankruptcy and Credit Counseling
Page 1 of2
Total Scorecard Accept Recommendation - Lender documentation must show
two years from the discharge date of a Chapter 13 bankruptcy. If the Chapter
13 bankruptcy has not been discharged for a minimum period of 2 years, the
loan must be downgraded to a Refer and be evaluated by a Direct
Endorsement (DE) underwriter
For more information on the TOTAL Scorecard recommendations, see the
TOTAL Mortgage Scorecard User Guide.
See Attachment # 9 - HUD 4155.1 Chapter 4, Section C.2.h
Refer to Section 402 pages 56-57 in the MRI Quick Reference Guide
17

18. Bankruptcy and Credit Counseling
Page 2 of2
Credit Counseling does not disqualify a borrower from obtaining an FHA-insured
mortgage, provided that the lender document that:
o One year of the pay-out under the plan has elapsed and
o The borrower's payment performance has been satisfactory and all required
payments have been made on time
Note: The borrower must receive written permission from the credit counseling
agency to enter into the mortgage transaction
See Attachment # 9 - HUD 4155.1 Chapter 4, Section C.2.i
Refer to Section 402 pages 56-57 in the MRI Quick Reference Guide
Bankruptcy and Credit Counseling
Page 2 of2
Credit Counseling does not disqualify a borrower from obtaining an FHA-insured
mortgage, provided that the lender document that:
o One year of the pay-out under the plan has elapsed and
o The borrower's payment performance has been satisfactory and all required
payments have been made on time
Note: The borrower must receive written permission from the credit counseling
agency to enter into the mortgage transaction
Continued on next page
18

19. Bankruptcy and Credit Counseling
Page 2 of2
Total Scorecard Accept Recommendation - The borrower's decision to
participate in credit counseling does not trigger a requirement for
additional documentation since the credit scores already reflect the
degradation in credit history. The borrower's credit history, not voluntary
participation in consumer credit counseling, is the important variable in
scoring the mortgage and, thus, no explanation or other documentation
is needed.
For more information on the TOTAL Scorecard recommendations, see the
TOTAL Mortgage Scorecard User Guide.
See Attachment # 9- HUD4155.1 Chapter 4, SectionC.2.i
Refer to Section 402 pages 56-57 in the MRI Quick Reference Guide
Loans
II Debt payments scheduled to begin or come due within 12 months of the
mortgage closing, must be included by the lender as antiCipated monthly
obligations during the underwriting analysis
Debt payments do not have to be classi·fied as projected obligations if the
borrower provides written evidence that the debt will be deferred to a period
outside the 12-month timeframe
Refer to Section 404.03 pages 60-61 in MRI Quick Reference Guide
19

20. "Lenders may pay the borrower's allowable closing costs and/or prepaid items by
premium pricing. Costs paid in this manner need not be included as part of the 6%
seller contribution limit." The funds derived from a premium priced mortgage:
• May never be used to pay any of the borrower's down payment
• Must be disclosed on the HUD-1 Settlement Statement. The HUD-1 must include a
itemized statement indicating which items are being paid on the borrower's behalf;
disclosing a lump sum is not acceptable. Also, the amount paid on the borrower's
behalf for each item may not exceed the allowable fee permitted by the jurisdictional
HOC.
lI! Must be used to reduce principal if the premium pricing agreement establishes a
specific dollar amount for closing costs and prepaid expenses with any remaining
funds, in excess of actual costs, reverting to the borrower
• May not be used for payment of debts, collection accounts, escrow shortages or
missed mortgage payments or judgments
See Attachment # 10 - HUD 4155.1 Chapter 5, Section A.2.i
Origination and Tax Service Fee
Lenders may charge and collect from the borrowers those
customary and reasonable costs necessary to close the
mortgage. With the exception that a "Tax Service Fee"
cannot be charged to a borrower, there are no more "Non­
Allowable" fees and charges as long as fees are
customary and reasonable and comply with Federal and
State disclosure laws and other applicable laws and
regulations
FHA no longer limits the origination fee to 1% of the
mortgage amount for its standard mortgage insurance
programs
20

21. Property Inspection Requirements
FHA no longer mandates automatic inspections for the following items and/or
conditions in existing properties:
IJ Wood Destroying Insects/Organisms: Inspections required only if evidence of
active infestation, mandated by the state or local jurisdiction, if customary to area
or at lender's discretion or if requested in the Purchase and Sales Agreement
o Well (individual water system): Test or inspection required if mandated by state
or local jurisdiction; if there is knowledge that the well water may be contaminated;
when water supply relies upon water purification system due to presence of
contaminants.
IJ Septic: Test or inspection required only if (1) evidence of system failure, (2) if
mandated by the state or local jurisdiction, (3) if customary to the area, or (4) at
lender's discretion. If home has been unoccupied for more than 30 days (and
does not meet one of the conditions noted above) the lender's underwriter must
decide if an inspection of the system is necessary.
Prohibition on Property Flipping
Page 1 of 4
Property Flipping - refers to the practice whereby recently acquired property is
resold for a considerable profit with an artificially inflated value, often abetted by
a lender's collusion with an appraiser
To be eligible for a mortgage insured by FHA
IJ a property must be purchased from the owner of record
o the transaction may not involve any sale or assignment of the sales contract, and
o the lender must obtain, and submit in the case binder to HUD, documentation
verifying that the seller is the owner of record.
Such documentation may include, but not limited to
IJ a property sales history report
o a copy of the recorded deed from the seller, or
o Other documentation, such as a copy of the property tax bill, title commitment, or
binder, demonstrating the seller(s)/owner(s) ownership of the property and the dates
it was acquired.
Note: This requirement applies to all FHA purchase money mortgages, regardless of the
time between re-sales.
21

22. I Prohibiti~n on Property Flipping
Page 2 of 4
If a property is re-sold 90 days or fewer following the date of acquisition by the
seller, the property is not eligible for a mortgage insured by FHA.
FHA defines the
o seller's date of acquisition as the date of settlement on the seller's purchase of that
property, and
o resale date as the date of execution of the sales contract by a buyer intending to
finance the property with an FHA-insured loan
A lender must obtain a second appraisal by another appraiser if
o The resale date of the property is between 91 and 180 days following the acquisition
of the property by the seller, and
o The resale price is 100 percent or more over the price paid by the seller when the
property was acquired
Note: The cost of the second appraisal may NOT be charged to the borrower.
--------_._-­
, Prohibitio;~n Proper~ Flipping
i Page 3 of 4
FHA reserves the right to require additional documentation from a lender to
support the resale value of the property if:
(J The resale date is more than 90 days after the date of acquisition by the seller, but
before the end of the twelfth month following the date of acquisition, and
(J The resale price is 5 percent or greater than the lowest sale price of the property
during the preceding 12 months.
At FHA's discretion, such documentation may include, but not limited to, an appraisal
from another appraiser.
The only exceptions to the 90 day resale restriction are for
o properties acquired by an employer or relocation agency in connection with the
relocation of an employee
(J re-sales by HUD under the Real Estate Owned (REO) program
(J sales by other United States Government agencies of single family properties
pursuant to programs operated by these agencies
22

23. Prohibition on Property Flipping
Page 4 of 4
D sales of properties by nonpro-fits approved to purchase HUD owned single family
properties at a discount with the resale restrictions
D sales of properties that are acquired by the seller by inheritance
D sales of properties by state and federally-chartered financial institutions and
government sponsored enterprises
D sale of properties by local and state government agencies, and
D sales of properties within Presidentially Declared Disaster Areas
Any subsequent re-sales of the properties described above must meet the 90 day
threshold in order for the mortgage to be eligible as security for FHA insurance.
Refer to Section 105 pages 15-17 in MRI Quick Reference Guide
See Attachment # 11- HUD 4155.2, Section 4.7.a-h
How do I stay informed and
Get the Answers I need
You can subscribe to Mortgage References, Inc. (MRI) "Quick
Reference Guide". We feel that this is the best FHA reference guide
in the industry. Please see Attachment # 12 - MRI order form.
http://www.hud.gov/offices/hsg/sfh/ref/hsgregst.cfm Here you can
subscribe to the FHA's Single Family Housing Industry Email List.
Please see Attachment # 12 - Screen shot.
http://www.fhaoutreach.gov/FHAFAQI Many questions posed to the
FHA Resource Center are answered here. There are over 1,200
questions and answers in the FHA online knowledge base from the
very basic eligibility questions to technical underwriting and appraisal
questions. Please see Attachment # 12 - Screen shot.
23

24. How do I stay informed and
Get the Answers I need
http://www.allregs.com/ We recommend subscribing to Allregs FREE email alert
service for lending industry update notices. Please see Attachment # 12 - Screen
shot.
www.adfinet.com We highly recommend this FREE regulations search engine.
Please see Attachment # 12 - Screen shot.
Email: jerrold.h.mayer@hud.gov "How do you sign up yourself as well as your entire
staff for FHA email updates?" It is easy ... just list email addresses like this:
xxx@abc.com
yyy@abc.com
zzz@abc.com
You can send one email or thousands. Email your list to: jerrold.h.mayer@hud.gov
How do I stay informed and
Get the Answers I need
http://portal.hud.gov/portal/page/portaI/HUD/groups/lenders FHA's "Lender
Partner" Resource Center. Please see Attachment # 12 - Screen shot.
http://www.hud.gov/offices/adm/hudclips/ Search site for Handbooks, Forms
and Mortgagee Letters. Please see Attachment # 12 - Screen shot
III http://www.hud.gov/offices/hsg/keywords.cfm Keyword Search Index. Please
see Attachment # 12 - Screen shot
.111 http://www.hud.gov/assistlsiteindex.cfm Site Search Index. Please see
Attachment # 12 - Screen shot
24

25. do I stay informed and
Get the Answers I need
http://wwwfhaoutreach.gov/FHAHandbook/prod/index.asp FHA Online Handbooks. Please
see Attachment # 12 - Screen shot.
Email: info@fhaoutreach.com You can email the FHA Resource Center for answers to
many questions you may have.
Call (800) CALL-FHA or (800) 225-5342 FHA Resource Center available Monday-Friday, 8
AM to 8 PM Eastern Time
http://www.hud.gov/officesladm/hudclips/handbooks/hsgh/4155.1 141551 HSGH.pdf The
4155.1 is the official 406 page Mortgage Credit Analysis Handbook for FHA.
For quicker access to FHA questions, the MRI Quick Reference Guide is a better
alternative. See Attachment # 12 for order form.
How do I stay informed and
Get the Answers I need
FHA TOTAL Mortgage Scorecard User Guide - Please see
Attachment # 13 for a copy.
III FHA TOTAL Mortgage Scorecard FAQ's - Please see
Attachment # 14 for a copy.
25

26. I FHA-Documentation Checklist, FHA For~s and
Fairway Specific Forms
I!iI FHA Documentation Checklist (for training purposes
only) and copy of Loan Submission Form. Please see
Attachment # 15 for documents.
FHA Mortgage Insurance Premiums - Please see
Attachment # 6.
FHA Specific Forms, Product Guidelines and Matrices
- Please see Attachment # 16.
26