Transcription of Section C. Borrower Credit Analysis Overview
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Section C. Borrower Credit Analysis Overview
HUD 4, Section C4-C-1 Section C. Borrower Credit AnalysisOverviewIn This SectionThis Section contains the topics listed in the table NameSee Page1 General guidelines for Analyzing BorrowerCredit4-C-22 guidelines for Credit Report Review4-C-73 Evaluating Non-Traditional Credit andInsufficient Credit4-C-164 Borrower Liabilities: Recurring Obligations4-C-185 Borrower Liabilities: Contingent Liabilities4-C-216 Borrower Liabilities: Projected Obligations andObligations Not Considered Debt4-C-23 Chapter 4, Section CHUD General guidelines for Analyzing Borrower CreditIntroductionThis topic contains information on the general guidelines for analyzingborrower Credit , including past Credit performance analyzing Credit history documenting Analysis of delinquent accounts lack of established Credit history verifying and documenting non-traditional Credit providers, and non-traditional mortgage Credit report (NTMCR).Change DateMarch 1, CreditPerformancePast Credit performance is the most useful guide to determining a Borrower s attitude toward Credit obligations, and predicting a Borrower s future who have made payments on previous and current obligations in atimely manner represent a reduced risk.
Guidelines for Credit Report Review, Continued 4155.1 4.C.2.e Paying off Collections and Judgments FHA does not require that collection accounts be paid off as a condition of mortgage approval. However, court-ordered judgments must be paid off before the mortgage loan is eligible for FHA insurance endorsement.
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