Search results with tag "Total scorecard"
Section C. Borrower Credit Analysis Overview
www.hud.govThe TOTAL Scorecard Refer recommendation requires the borrower to provide an explanation for major indications of derogatory credit, such as judgments and collections, and any minor indications within the past two years. Reference: For more information on the TOTAL Scorecard recommendations, see the TOTAL Mortgage Scorecard User Guide.
FHA TOTAL Mortgage Scorecard User Guide
mortgage-u.comUse of the TOTAL Scorecard User Guide For ease of reading, we have chosen to use “lender” in lieu of “mortgagee” throughout this User Guide. The definition of lender is to be interpreted as an FHA-approved mortgagee as described in 24 CFR § 202.2. For information on topics that …
Section B. Acceptable Sources of Borrower Funds Overview
www.hud.govTOTAL Scorecard Accept/Approve or Refer Recommendation If the loan receives an Accept/Approve or Refer recommendation from the Technology Open To Approved Lenders (TOTAL) Scorecard, the lender must obtain an explanation and documentation for recent large deposits in excess of 2% of the property sales price, and
FHA Program Conforming and High Balance Loans Primary ...
www.homebridgewholesale.comIf the borrower currently has an FHA mortgage the borrower is not eligible for FHA financing on a purchase transaction • Purchase transactions: The maximum LTV is 100% (A borrower minimum investment is not required) NOTE: If the LTV exceeds 96.50% (> 96.50% to 100% LTV) TOTAL Scorecard will issue an “Approve/Ineligible” finding.