Transcription of FHA TOTAL Mortgage Scorecard User Guide
{{id}} {{{paragraph}}}
HOUSING AND URBAN DEVELOPMENT FHA TOTAL Mortgage Scorecard User Guide 12/29/2011 FHA TOTAL Mortgage Scorecard User Guide December 29, 2011 Page 2 TABLE OF CONTENTS INTRODUCTION Chapter Overview 4 Use of the TOTAL Scorecard User Guide CHAPTER 1 LOAN SUBMISSION REQUIREMENTS 6 Lenders Responsibility for Accuracy of Data Entry Data Entry Requirements to Identify a Sponsored Origination/Third Party Origination Basic Information on FHA Standards and Definitions Property and Program Eligibility Loan Purpose FHA Insurance Product 7 Property Types Plan Type Loan Application Information and Definitions Type of Mortgage and Terms of
Adjustable Rate Mortgage (ARM) If the mortgage being underwritten is a 1 year ARM with a loan-to-value (LTV) ratio equal to or greater than 95 percent, calculate the Principal and Interest using a rate 1 percentage point above the loan’s initial interest rate. FHA’s 3, 5, 7, and 10 year ARMs
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document:
{{id}} {{{paragraph}}}