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

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.

As of June 30, 2016

Presented by: Eric McDowel, Senior Underwriter John Phillips, Branch Chief Philadelphia Homeownership Center

FHA's Office of Single Family Housing Training Module

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Introduction

FHA's Office of Single Family Housing Training Module

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 single-

family financing considering:

? Creditworthiness; ? Effective income; and

Income

? Assets.

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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