Module 4: Manual Underwriting of the Borrower

Single Family Housing Policy Handbook 4000.1 - Title II Insured Housing Program Forward

Mortgages Origination through Post-Closing/Endorsement

Module 4: Manual Underwriting of the Borrower

As of June 30, 2016

Presented by:

Eric McDowel, Senior Underwriter

John Phillips, Branch Chief

Philadelphia Homeownership Center

The information in this document is current as of the Last Update date noted above. This document does

not establish or modify the policy contained in FHA¡¯s Handbooks and Mortgagee Letters in any way.

FHA¡¯s Office of Single Family Housing Training Module

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FHA¡¯s Office of Single Family Housing Training Module

Introduction

The Manual Underwriting of the Borrower section of the

Handbook provides Mortgagees FHA¡¯s policy requirements to

determine a borrower¡¯s ability to obtain FHA insured singlefamily financing considering:

¨C Creditworthiness;

¨C Effective income; and

¨C Assets.

Income

Credit

Assets

Manual

Underwriting

Borrower

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FHA¡¯s Office of Single Family Housing Training Module

Manual Underwriting of the Borrower

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FHA¡¯s Office of Single Family Housing Training Module

Manual Underwriting Requirements

The Mortgagee must manually underwrite those applications

where:

? TOTAL issues a Refer;

? The application was downgraded to a manual underwrite; or

? FHA programs requires manual underwriting for the

application.

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