Procedure: Using FHA Connection Date Issued: 04/16/2014 Date Effective: 04/16/2014 Date Revised: 07/22/2015. Executive Vice President, Operations



Similar documents
Submitting a Loan to DO through Point

navigating premier nationwide lending locking online system Logging in...2 pipeline...2

Updated: July 11, 2013

Endorsing a HECM Case

Processing FHA TOTAL and VA Mortgages

Processing FHA TOTAL and VA Mortgages

Case Number Assignment

Submitting a loan to Freedom Mortgage through our Banking channel

Endorsing a Single Family FHA Case

Uploading Documents to the efolder. Completing the Canceled Screen

FHA MIP TRAINING (Mortgage Insurance Premium)

FHA Connection System Updates

FHA Fixed. FICO <580 Requirements: (c) Varies by County (a) 97.75% 97.75% Per AUS (d) Sub 580 ( FICO) FF30580SG FF15580SG

Using the Broker s Credit Report for Underwriting Wholesale Version

DU for Government Loans Release Notes July 2012 Release

Disclosure Specialist Responsibilities. Lock Procedures. Processor Responsibilities. Appraisal Ordering

NOTE: This matrix includes overlays, which may be more restrictive than FHA requirements. A thorough reading of this matrix is recommended.

Team Primary s Quick Reference Guide To Encompass

WHERE THE HECK IS IT? Underwriter s Field Locator

Welcome to THDA s Electronic Mortgage Loan Submission.

What s s New With FHA?

Ordering Mortgage Insurance from National MI Encompass User Guide

FHA Connection Training Resources

DU User s Guide for FHA Loans

Using Loan Prospector

Desktop Underwriter (DU) Troubleshooting. User Guide

Loan Estimate. Loan Terms. Projected Payments. Costs at Closing. Save this Loan Estimate to compare with your Closing Disclosure.

FHA Approval Lists. Single Family Origination > FHA Approval Lists

Home Mortgage Wholesale Prime Plus Division

Working with Loan Files Revision 9.11

VA IRRRL Offering 5/20/14

Veteran Information Portal: Obtaining Your Certificate of Eligibility Online

FHA Streamline (K) Limited Repair Program

Multiple Financed Properties Program Fannie Mae/Freddie Mac. Table of Contents

Get in the FAST LANE with WesLend Wholesale! VA Home Loan Guarantee Program Program Overview

Next Home Government Program Term Sheet Effective December 1, 2015

FROM: Tammye Treviño (Signed by Tammye Treviño) Administrator Housing and Community Facilities Programs

FHA STREAMLINE REFINANCE GUIDELINES

ditech BUSINESS LENDING FHA STANDARD REFINANCE PRODUCT FOR CASE NUMBERS ASSIGNED ON OR AFTER 9/14/15

FHA STREAMLINE REFINANCE GUIDELINES

The Reverse Mortgage Analyst

Independent Bank, Ionia, MI

EFFECTIVE FOR FHA CASE NUMBER ASSIGNMENTS ON AND AFTER SEPTEMBER 14, 2015 OVERLAY MATRIX: GOVERNMENT

FHA Streamline Refi. LTV w/o Sec Fin. CLTV w/ Sec Fin. Varies by County (a) None (b) 125 (b,d) 31/43 (c)

Please be sure to only initial below the description of the category of how you would like to do business with AFR.

FHA STREAMLINE REFINANCE PRODUCT PROFILE

Who We Are. / 2015 Southwest Funding, LP, All rights reserved

February 2015 Guidance for the mortgage professional

Chapter 7. Mortgage Insurance Premiums (MIPs) Table of Contents

HARP DU REFI PLUS Training

FIRST COMMUNITY MORTGAGE, INC.

FHA STREAMLINE GUIDELINES

Managing FHA Loans In Point Correctly processing FHA loans emphasizing the MCAW

TRIPwire HSIN Federation:

HOMEBUYER S MORTGAGE GUIDE

Conventional Fixed Rate Conforming Product Guidelines

Guide to FHA Streamline Refinances. By J.J. Sawicki, CMP AVP Third Party Lending/Merrimack Mortgage

Minnesota Housing & U.S. Bank Home Mortgage- MRBP Division. Product and Underwriting Guidelines

Underwriting Guideline Matrix

Guarantee Trust Life Insurance Company. Agent Portal Agent Portal Guide

Texas Home Equity Program Guide Fixed Rate

Refinance Info Online Application Steps and Helpful Hints

A Simplified Overview of FHA Loan Origination

Onboarding for Administrators

Name Account Executive. Contact Number Address Website Address

NON CREDIT QUALIFYING WITHOUT APPRAISAL, STANDARD & HIGH BALANCE, FIXED & ARM

Section B: Direct Endorsement (DE) Program Lender Approval Overview

FHA Streamline (Full Credit and Non-Credit Qualifying)

Chapter 2. DE Lender Application and Approval/Lender Insurance Program (LI) Eligibility & Approval Table of Contents

WHOLESALE VA IRRRL NO APPRAISAL PRODUCT PROFILE

Conforming DU Refi Plus (HARP 2)

Guide to Using Citrix at SLU (Windows)

WHOLESALE VA IRRRL WITH APPRAISAL

Announcement May 16, Jumbo-Conforming Mortgage Loans Expanded Eligibility and Products

Where homeownership education takes flight!

- WHOLESALE - Summary of Procedures

FHA Lending PROCESS & PRODUCT OVERVIEW. Initial Steps. Full File (Complete Package) Submission Requirements

ParishSOFT Remote Installation

FNMA Jumbo Conforming Fixed (HIGH BALANCE LOANS) T300J Year Fixed & T301J09-15 Year Fixed

Understand the VA Loan Program. Serve the mortgage lending needs of borrowers who serve our country

Quality, Cost-Effective FHA Origination

Dr. Debra Sherrill Central Piedmont Community College

ditech BUSINESS LENDING FHA STREAMLINE REFINANCE PRODUCT FOR CASE NUMBERS ASSIGNED ON OR AFTER 9/14/15

DU User s Guide for VA Loans

Fannie Mae DU Refi Plus Helping borrowers efficiently refinance Fannie Mae loans

Lender Appraisal Processing Program

Broker. Financing Real Estate. Chapter 12. Copyright Gold Coast Schools 1

Using the BWSD Help Desk Website

Transcription:

REVISED 07/22/2015; PAGE 1 OF 13 PNP SPECIFICATIONS PNP Name/ History Procedure: Using FHA Connection Date Issued: 04/16/2014 Date Effective: 04/16/2014 Date Revised: 07/22/2015 Production Channels Retail Correspondent Wholesale Accountable Personnel/ Department Processing Issuing Personnel/ Department Subject Matter Expert (SME) Purpose Executive Vice President, Operations Director of Processing The purpose of this procedure is to facilitate navigation in FHA Connection. RELATED DOCUMENTATION Guide Branch Processing Manual Matrix None Policy None Procedure None

REVISED 07/22/2015; PAGE 2 OF 13 RELATED DEFINITIONS FHA Connection FHA Connection provides FHA-approved lenders and business partners with direct, secure, online access to computer systems of the U.S. Department of Housing and Urban Development (HUD). Table of Contents Introduction to FHA Connection... 3 Ordering a New FHA Case Number... 3 Receiving and Recording the New FHA Case Number... 9 Running CAIVRS (FHA & VA s)... 10 Receiving and Recording the CAIVRS Authorization #... 13

REVISED 07/22/2015; PAGE 3 OF 13 Introduction to FHA Connection 1. All initial signed disclosures must be returned by the borrower and in the file (efolder) before a new FHA case number can be ordered. This requirement is discussed in the FHA Connection Login Agreement that is included in new hire paperwork. Login credentials are required for using FHA Connection and can be obtained from the AFN Help Desk (helpdesk@afncorp.com). You can login to FHA Connection from your web browser via this URL: https://entp.hud.gov/clas/login_fhac.fcc Normal hours of operation for Case Processing are Monday Friday 8:00 AM 10:00 PM Eastern (5:00 AM 7:00 PM Pacific). Ordering a New FHA Case Number 2. Login to FHA Connection. 3. Select Single Family FHA from the left navigation menu.

REVISED 07/22/2015; PAGE 4 OF 13 Ordering a New FHA Case Number 4. Select Single Family Origination from the options that appear, and then select Case Processing. 5. Select Case Number Assignment from the options that appear, and then select Establish a New Case.

REVISED 07/22/2015; PAGE 5 OF 13 Ordering a New FHA Case Number 6. Validate the Borrower and Address to be used for Case Number Assignment; complete the required fields (as highlighted below) for all borrowers using their full legal name as indicated on their Social Security Card including any middle name. 7. Click the [Send] button to submit the request and the Case Number Assignment page will appear. 8. Complete the fields that are highlighted in the screen samples below, following the tips provided.

REVISED 07/22/2015; PAGE 6 OF 13 Ordering a New FHA Case Number 8. (Cont d) Field Is this a Sponsored Originator Case? Originator ID Case Type Construction Code Processing Type Financing Type Completion Tip Always answer NO If Branch has FHA approval and their own ID, use the Branch ID, otherwise use 1835200005 Regular DE Typically Existing Construction (unless the property is New Construction) N/A N/A ADP Code Fixed Rate (SFR or PUD) = 703, Condo = 734 Living Units Program ID Term ARM (SFR or PUD) = 729, Condo = 731 # of Units associated with the property Default Term expressed in months

REVISED 07/22/2015; PAGE 7 OF 13 Ordering a New FHA Case Number 8. (Cont d) Field Amortization Type Housing Program Property Type Special Program Buydown Principal Write-down Type of Case If Purchase: Was this case previously sold as a Real Estate Owned (previously sold by HUD) If Refinance: Specify type of refinance Completion Tip Match the loan (Fixed, Adjustable, etc.) FHA Standard Mortgage or Condominium SFR/PUD = Not a Condominium or Condo = Condominium Typically No Special Program Typically No, unless there is a Buydown feature on the loan Not a principal write-down Match the loan (Forward Purchase or Forward Refinance) Typically No (unless the loan was a HUD REO) Match the loan: If Purchase, select Not a refinance; if refi, select Prior FHA or Conventional as applicable

REVISED 07/22/2015; PAGE 8 OF 13 Ordering a New FHA Case Number 8. (Cont d) Field All Refinances: (a) Select streamline refinance type All Refinances: (b) Is this a Cash-out Refinance Prior FHA and prior REO cases: Enter case number of previous case PUD/Condo Indicator PUD/Condo ID Month/Year Completed Completion Tip Match the loan (Not Streamlined, or Streamlined With or Without Appraisal) Match the loan (select Yes or No as applicable) Streamline Only: Enter case number of previous loan Defaults to N/A; if PUD or Condo select the correct option Click the spyglass icon to search for and select the condo project; if not found, we cannot do the transaction if a condo (Streamlines are an exception) Approximate month/year built Prior FHA (Forward) Case: Enter the following for new case Enter the requested information for the new transaction: Projected Closing Date = Estimated Closing Date (MM/DD/YY), Contact Name =, Contact Phone = s Phone Number

REVISED 07/22/2015; PAGE 9 OF 13 Receiving and Recording the New FHA Case Number 9. Click the [Send] button to receive a new case number; enter the new case number in the FHA Case # field in Encompass (FHA Management form (screen) > Tracking) and Date of case assignment. Place a copy of the case assignment from FHA Connection in the Encompass efolder under Gen FHA/VA Case Number & CAIVRS. FHA Connection typically takes 24 hours to validate all entered borrower information. It may be necessary to log back in and reprint an updated case assignment showing no warnings (case should reflect message all borrowers passed SSN validation ) to upload to the efolder for underwriting to clear. 10. If prior FHA case exists, enter the previous case information (old FHA case #, MIP Refund amount, and Prior Endorsement Date) in the FHA Management form (screen) in Encompass (Tracking tab > Refi Authorization fields).

REVISED 07/22/2015; PAGE 10 OF 13 Running CAIVRS (FHA & VA s) 11. After logging in to FHA Connection, select Single Family FHA from the left navigation menu. 12. Select Single Family Origination from the options that appear, and then select Case Processing.

REVISED 07/22/2015; PAGE 11 OF 13 Running CAIVRS (FHA & VA s) 13. Select CAIVRS Authorization from the options that appear; the CAIVRS Authorization screen will appear.

REVISED 07/22/2015; PAGE 12 OF 13 Running CAIVRS (FHA & VA s) 14. Complete the CAIVRS Authorization fields using the tips provided below. Field SSN/TIN Number Lender ID Agency Completion Tip Enter the SSN of each borrower as it appears on their SSN card FHA loans: If Branch has FHA approval and their own ID, use the Branch ID, otherwise use 1835200005 VA loans: Enter 9010100000 FHA loans: HUD-FHA Single Family VA loans: Veterans Affairs

REVISED 07/22/2015; PAGE 13 OF 13 Receiving and Recording the CAIVRS Authorization # 15. Click the [Send] button; CAIVRS Authorization Results will appear, as shown below. 16. Enter the CAIVRS information on the FHA Management form (screen) in Encompass (whether FHA or VA loan). Place a copy of the CAIVRS information from FHA Connection in the Encompass efolder under Gen FHA/VA Case Number & CAIVRS.