18 - FHA Manual Index 3-2010 cross index revised 9-27 … Certification: Form HUD-92541 415 Builder’s Certification of Plans Specifications (HUD 92541) - How to complete 418 Buy

CROSS INDEX10 year warranty plans - New Construction 405 412184 Indian Home Loan Guarantee Program 412/1 Buydown - Temporary Interest Rate Buydown 49 53 131203(b) "FHA's Standard" 12203(h) Disaster Victim Loan 35203(k) "Streamline” Rehab Program Details 17203(k) Rehab Mortgage Insurance Program Details 15203(k) Rehab Summary 13255 HECM "Reverse Mortgage" 143 and 4 Unit Property Transactions 26430 day extension on 1st appraisal 362401(k) accounts 91 98 105 114 127 299 33554114 Form - DE Underwriter/HUD Reviewer Analysis of the Appraisal 1766% Seller Contribution Limit 77 79 90 27860 Years of Age or Older Borrowers/Secondary Financing 12292541 - How to complete the Builder’s Certification of Plans Specifications 41892541 Form - Builder Certification 41592544 Form - Warranty of Completion of Construction 41492561 Form - FHA Hotel/Transient Use of Property Form 16392564 CN Form - "For Your Protection: Get a Home Inspection" 15592800.5B - Conditional Commitment Statement of Appraised Value 17092800.5B Form - Conditional Commitment 17092900-A Form - Addendum to URLA Form 14792900-B Form - Important Notice to Homebuyers Form 15292900-LT - FHA Loan Underwriting and Transmittal Summary 16492900-LT Form - FHA Loan Underwriting and Transmittal Summary 16492900-LT: Instructions for Completing the 92900-LT 166Access Standards 343Acronyms - Common HUD Acronyms 475Adjustable Rate Mortgage (ARM) 46Adjustable Rate Mortgage FAQs 51ADP and Section of the Act (SOA) Code HELP 57ADP Codes 60ADP Codes - What are ADP Codes? 8ADP Suffix Code Case Number Requirements 62Age of Borrower 243Age of Documents 214Aliens - Citizenship and Immigration Status 284Alimony 99 128 188 306 332Alternative Documentation for VOD 189 208Alternative Documentation for VOE 185 208 218Amendatory Clause/R.E. Certification Form 144 157Analysis - Credit Reports and Credit Analysis 317Analysis - Income and Income Analysis 93 185 295Annual MIP and UFMIP 81Annual MIP and UFMIP Quick Summary Matrix 86Answers - FHA Resource Center 64 68Appraisal - Case number Assignment Date 362Appraisal - Change of Client Name 351Appraisal - Communication with Appraiser 362Appraisal - HUD REO Appraisal Requirements 357Appraisal - Second Appraisal Requirements 357 359Appraisal - Second Appraisal when the Borrower Switches Lenders 351Appraisal - Seller Concessions and Verification of Sales 358

Copyright © 2010. David Hail, All rights reserved 972-365-8099

Cross Index 1 September 2010

Appraisal - Site Condominium 370Appraisal - Term of an Appraisal 350 357Appraisal Expiration 214 350 357Appraisal Extensions 350Appraisal Material Deficiencies 357 363Appraisal Portability 361Appraisal Portability FAQs 362Appraisal Repair Requirements 353Appraisal Reporting Forms 348Appraisal Requirements 348 357Appraisal Re-use 350 422Appraisal Transfer 351Appraisal Update and/or Completion Report 352Appraisal, Property and Inspection Requirements 336Appraised Value Disclosure Form 160Appraiser Independence and FHA Connection 356Appraiser Selection in FHA Connection 361Appraisers on Second Lender’s Exclusionary List 362ARM Adjustable Rate Mortgage 46ARM Adjustable Rate Mortgage FAQs 51ARM Pre-Loan Disclosure Requirements 47Asset Information 189Assumptions as CAIVRS Exception 228Attics 372Authorization to Refinance 463Automobile Allowances 98Bankruptcy 93 142 196 228 329Base Loan Amount Defined 69 472Basements 372Basic FHA Loan Calculations 76Benefits of an FHA Loan 3Boarder Rental Income 312Bonds and Stocks 106Bonus Income 96 296Borrower, Co-borrower and Co-signer Eligibility 243Borrower's Age 243Borrower's Cash Investment in the Property 76 78Borrower's Identity of Interest Certification 183Budget Letter - Source of Funds Certification 180Builder Approval - New Construction 408Builder Certification: Form HUD-92541 415Builder’s Certification of Plans Specifications (HUD 92541) - How to complete 418Buy Out - Refinancing to Buy Out Ex-Spouse or Co-borrower Equity 426Buydown - Temporary Interest Rate Buydown 49 53 131Buydown - Temporary Interest Rate Buydown Schedule 56 178CAIVRS - Credit Alert Interactive Voice Response System 69 141 196 226Calculating the Energy-Related Mortgage Amount 34Calculating the FHA UFMIP Refund for FHA to FHA Refinance 467Calculation of the Maximum Mortgage Amount 76Calculation Worksheet - Purchase 79Canceling FHA MIP 223CAP, Interest Rate - What is an ARM interest rate CAP? 51CAP, Payment - What is an ARM Payment CAP? 52Case number Assignment Date 362Case Number Transfer Between Lenders 293Cash Accumulated with Private Savings Clubs 105



Cash Reserves 74 127 131 133 189 241 272Cash Reserves- IRAs, thrift plans, 401(k)s, etc 105 127Cash Reserves Tolerance and TOTAL Scorecard 74 133Cash Saved At Home (Mattress Money) 104Cash to Close 103Cash-Out Refinance Transaction 427Cash-Out Refinance Worksheet 450Chapter 13 Bankruptcy 93 142 196 228 329Chapter 7 Bankruptcy 93 142 196 228 329CHARM booklet - Consumer Handbook on Adjustable Rate Mortgages 48 480Checking Accounts and Savings 104Child Support 99 128 188 306 332Citizenship and Immigration Status 284Clearing Repair Conditions on Existing Homes 354Closing Cost - Tax Service Fee 137Closing Costs - Reasonable and Customary Fees Allowed 138Co-borrower Equity - Refinancing to Buy Out Ex-Spouse or Co-borrower Equity 426Collateralized Loans 114Collections and Judgments 92 192 328Commercial - Non Residential Use 379Commission from Sale 111Commission Income 96 186 298Communication with Appraiser 362Compensating Factors for Ratio Exceptions 240Completing the Uniform Residential Loan Application 209Completion Report 352Compliance Inspection Report 355Concessions - Seller Concessions Limits 77 79 90 278Condominium - Manufactured Housing Condominium Projects (MHCP) 369Condominium - Site Condominiums Section of the Act and ADP Codes 370Condominium - Spot Condo Loan Approval Process 369Condominium Units - Utility Rate Expenses 369Condominiums 366Condominiums - Flood Insurance 346Condominiums - Site Condos 371Condos - Refinance of Withdrawn Condominium Project 369Consumer Credit Counseling Payment Plans 125Consumer Handbook on Adjustable Rate Mortgages (CHARM) 48 480Consumer Handbooks - How to Order 48 480Contingent Liabilities 91 131 192 334Co-Signed Obligations 91 334Co-signer Requirements 243 462Cosmetic Repairs 353County Loan Limit Defined 69Crawl Spaces 373Credit - Bankruptcy 93 142 196 228 329Credit - CAIVRS 69 141 196 226Credit - Collection Accounts 92 328Credit - Delinquent Federal Debt 141 195Credit - Disputed Accounts 143 197Credit - Foreclosure 92 142 196 328Credit - Judgments 92 192 328Credit - Little or No Credit History. 317 321 325 331Credit - Minimum Required Credit Score 336Credit - Non-traditional Credit 83 317 321 325 331Credit - Suspended or Debarred Individuals 141 196 227 236



Credit Alert Interactive Voice Response System (CAIVRS) 69 141 196 226Credit Qualifying Streamline Refinance 434Credit Report - "Thin File" Credit Reports 332Credit Report - Non-Traditional Credit Report (NTMCR) 321Credit Report Inquiries 193 211 225 319 327Credit Reports and Credit Analysis 317Credit Score - Decision Credit Score Defined 83DAP - Down Payment Assistance Programs 102 108Debarred or Suspended Individuals 141 196 227 236Debt - Obligations Not Considered Debt 91 335Debt - Recent and/or Undisclosed Debts 327Debt Ratio - Liabilities to Count in Debt Ratio 90 332Debt to Income Ratios 89 238Decision Credit Score Defined 83Decorating Allowances - Inducements to Purchase 207 278Delinquent Federal Debt 141 195De-Minimus Self-Employed Income 187Depository Accounts 189Direct Endorsement (DE), What is DE? 8Disaster Relief Grants and Loans 114Disclosure - Temporary Interest Rate Buydown 56 178Disputed Accounts 143 197Dividend and Interest Income 307Divorce - Vacating a Jointly Owned Property 253Divorce as CAIVRS Exception 228Documentation Relief for TOTAL Scorecard “Accept/Approved” 92 132Documentation Requirement and FHA TOTAL Scorecard 184Documents Handled by Third Parties 130 215Down Payment Assistance Programs 102 108Down Payment Requirement 76y qDrainage and Grading 373Earnest Money and Other Deposits 103EEH - Energy Efficient Homes 89 138 280EEM - Energy Efficient Mortgage Worksheet 29EEM Energy Efficient Mortgage 23Effective Income 93 185 295Electrical System Requirements 378Eligibility - Borrower, Co-borrower and Co-signer 243Eligibility for Federally - Related Credit-LDP/GSA 141 196 227 230 233 236Eligibility Requirements for Nonprofit Organizations and State and Local 246Eligible Investment Properties 255Emergency Medical Technician Next Door Loan Program 20Employer Assistance Plans 115Employer Differential Payments 97Employer's Guarantee Plans 114Employment - Frequent Change of Jobs 94 295Employment - Gaps in Employment 94 132 188 220 225 295Employment / Income 93 185 295Employment by Family-Owned Businesses 300Employment Gaps 94 132 188 220 225 295Energy Efficient Homes (EEH) 89 138 280Energy Efficient Mortgage (EEM) 23Energy Efficient Mortgage (EEM) Worksheet 29Energy Weatherization 34Energy-Related Weatherization Mortgage Amount Calculation 34Equity Credit 101 108



Escrow of Funds for Completion of Construction 356Estimates of Property Taxes 130 239Exceptions to GSA List 236Exceptions to LTV Limits 77Expense Account Payments & Automobile Allowances 98Expiration of Appraisals 214 350Explanation Letters (LOE) Reminders 225Ex-Spouse - Refinancing to Buy Out Ex-Spouse or Co-borrower Equity 426Extension of Appraisal - 30 day extension on 1st appraisal 362Face-to-Face Interviews 204 213Family Member Lending 116Family Size Increase 253Family-Owned Businesses 300FAQs - LDP and GSA (EPLS) 236FAQs - Adjustable Rate Mortgage (ARM) 51FAQs - Appraisal Portability 362FAQs - Originator & Processor 222Faxed documents or printed pages from the Internet. 129 184 214Federal Income Tax Returns 220FHA - Yesterday and Today 5FHA “TOTAL” Mortgage Scorecard Defined 69FHA Allowable and Non-allowable Closing Costs 137 138FHA Amendatory Clause/R.E. Certification Form 156FHA Basics: Getting Started 88FHA Connection Case Query – Finding a Previous Case # 85FHA Forms 144FHA Insurance Funds 10FHA Maximum Mortgage Loan Limits 76 88FHA New Construction 390FHA Programs and Sections 8gFHA Resource Center 64 68FHA Roster Inspectors 394FHA Single Family HOC Jurisdictions 478FHA Terms 69 472FHA TOTAL Mortgage Scorecard User Guide 184FHA Total Scorecard Manual Downgrades 140 204FHA’s Post Endorsement Technical Review (PETR) 201Finding a Previous Case # - FHA Connection Case Query 85Firefighter Next Door Loan Program 20Flat Roofs 136Flipping - Property Flipping Restrictions 258Flood Hazard Areas 345Flood Insurance for Condominiums 346Flood Insurance for Manufactured Homes 347Flood Zones - New Construction 406Floor Heaters 374For Your Protection: Get a Home Inspection 155Foreclosure 92 142 196 328FORM: Borrower's Identity of Interest Certification 183FORM: FHA Amendatory Clause/R.E. Certification Form 156FORM: Gift Letter Form 162FORM: HUD Appraised Value Disclosure Form 160FORM: HUD-54114 - DE Underwriter/HUD Reviewer Analysis of the Appraisal 176FORM: HUD-92541: Builder Certification 415FORM: HUD-92544: Warranty of Completion of Construction 414FORM: HUD-92561 - FHA Hotel/Transient Use of Property Form 163



FORM: HUD-92564 CN - "For Your Protection: Get a Home Inspection" 155FORM: HUD-92800.5B - Conditional Commitment 170FORM: HUD-92900-A: Addendum to URLA Form 147FORM: HUD-92900-B: Important Notice to Homebuyers Form 152FORM: HUD-92900-LT - FHA Loan Underwriting and Transmittal Summary 164FORM: Informed Consumer Choice Disclosure Notice Form 154FORM: Lead Base Paint Disclosure 182FORM: Notice to Homeowner - Assumption of HUD/FHA-Insured Mortgages 161FORM: Payment History Inquiry 181FORM: Source of Funds Certification 180FORM: Temporary Buydown Schedule Form 56 178FORM: Work Equity (Sweat) Agreement and Worksheet 179FORMS: Appraisal Reporting Forms 348FORMS: New Construction 414FORMS: Origination Forms 144Foundations 374Frequent Change of Jobs 94 295Funds for Closing 103Gaps of Employment 94 132 188 220 225 295General Acceptability Standards and Property Eligibility 341General Services Administration (GSA) List 233Getting Started Doing FHA Loans 88Gift Funds 101 106 131 190 241 265 272Gift Letter Form 162Gift of Equity 101 108GNND Maximum Mortgage Calculation Worksheets 21 22Good Neighbor Next Door Program (GNND) 20Government Agencies - Secondary Financing 117Government Assistance Programs 117 309Grading and Drainage 373g gGrossing-up Non-taxable Income 99 124GSA - General Services Administration 141 196 227 233GSA (EPLS) and LDP FAQS 236GSA and Excluded Parties Listing System (EPLS) 141 196 227 233GSA List Exceptions 236Handrail 374Heating and Cooling Systems 374 378Heating: Space Heaters 374Helpful Links and Contact Information 64History of FHA 5HOC Home Ownership Centers Jurisdictions 478Home Ownership Centers (HOC) Phone Numbers 478HOT Property Topics 371HOT Topics - Regulations 123Hot Water Heaters 374Hotel and Transient Use 146 163 221 257How can I stay informed on FHA regulation changes? 64How to complete the Builder’s Certification of Plans Specifications (HUD 92541) 418How to Eliminate FHA monthly MIP 222How to Order Consumer Handbooks 480How to Stay Informed 64HUD Appraised Value Disclosure Form 160HUD Real Estate Owned (REO) Properties 267HUD REO Appraisal Requirements 357HUD-54114: DE Underwriter/HUD Reviewer Analysis of the Appraisal Report 176HUD-92541 - How to complete the Builder’s Certification of Plans Specifications 418



HUD-92541: Builder Certification 415HUD-92544: Warranty of Completion of Construction 414HUD-92561: FHA Hotel/Transient Use of Property Form 163HUD-92564 CN: "For Your Protection: Get a Home Inspection" 155HUD-92800.5B: Conditional Commitment 170HUD-92900-A: Addendum to URLA Form 147HUD-92900-B: Important Notice to Homebuyers Form 152HUD-92900-LT: FHA Loan Underwriting and Transmittal Summary 164Hybrid ARM - What is a Hybrid ARM? 52Identity of Interest Certification Form 183Identity of Interest Transaction 276Immigration and Citizenship Status 284Income - "De-Minimus" Self-Employed Income 188Income - Alimony 99 128 188 306Income - Analyzing Income of Self-Employed 300Income - Bonus 96 296Income - Child Support 99 128 188 306Income - Commission 96 186 298Income - Dividend and Interest 307Income - Effective Income 93 185 295Income - Employment 93 185Income - Maintenance Income 99 128 188 306Income - Military Income 309Income - Notes Receivable 308Income - Part Time 96Income - Projected Income 125Income - Rental Income from Boarder 312Income - Rental Income from Roommate 312Income - Retirement 98Income - Seasonal Income 96Income - Social Security 98Income - Trust 307Income and Income Analysis 93 185 295Income Stability 295Income Tolerance and TOTAL Scorecard 74 133Increase in Family Size 253Index - What is an ARM Index? 51Indian Home Loan Guarantee Program (Section 184) 41Inducements to Purchase 207 278Informed Consumer Choice Disclosure Notice Form 154Inquiries on Credit Report 193 211 225 319 327Inspection Requirements 135 338Inspection, Property and Appraisal Requirements 336Inspections - Required Inspections by Qualified Entities 354Inspectors - FHA Roster 394Insurance and Tax Escrows Tolerance and TOTAL Scorecard 74 133Interest and Dividend Income 307Interest Rate Buydown, Temporary 49 53 131Interested Third Party - Documents Handling 130 215Internet Generated Documents 129 185 214Investment Properties 255 308 439Investor - Seven Unit Limitation 221 250 312IRAs, Thrift Savings Plans, 401(k)s & Keogh Accounts 105 127IRS Tax Liens 141 227Judgments and Collections 92 192 328Keogh accounts 105 127



Kiddie Condo 273Late Mortgage Payments 142 192 197Law Enforcement Officers Loan 20LDP - Limited Denial of Participation 141 196 227 230 236LDP and GSA - What is LDP and GSA? 141 196 227 230 233 236LDP and GSA (EPLS) FAQS 236Lead Base Paint Disclosure 182Lead-Based Paint Standards 343Letters of Explanation (LOE) Reminders 225Liabilities 90 332Liabilities - Contingent Liabilities on Mortgage Debt 91 131 192 334Liabilities - Co-Signed Obligations 91 334Liabilities - Obligations Not Considered Debt 91Liabilities to Count in Debt Ratio 90 332Limited Denial of Participation (LDP) 141 196 227 230 236Links to Helpful Web-Sites 64Living Trusts 289Loan Application Forms 144Loan Application Interview 204 213Loan Documentation Requirements 184Loan Limits 76 88Loan Origination Fee 137Loan Origination Forms - FHA 144Loan Origination Guidelines - The Basics 89Loan Originator Responsibilities 204Location of Property 374LOE - Letters of Explanation Reminders 225LTV - Maximum LTV Quick Summary Matrix 80LTV Limit Exceptions 77LTV Limit for Purchase Transactions 76LTV Limit for Refinance Transactions 78 422Maintenance Income 99 128 188 306Manual Downgrades and System Overrides for FHA TOTAL Scorecard 140 195Manufactured Homes - Eligibility and General Requirements 341 342 375Manufactured Homes - Flood Insurance 347Manufactured Homes - Refinance Transactions 423Manufactured Homes - Refinance Transactions 423Manufactured Housing - New 402Manufactured Housing Condominium Projects (MHCP) 369Margin - What is an ARM Margin? 51Maximum Loan Amount Defined 69Maximum LTV Quick Summary Matrix 80Maximum Mortgage Amount and Down Payment 76Maximum Mortgage Calculation Worksheets - GNND 21 22Maximum Mortgage Loan Limits 76 88MCC - Mortgage Credit Certificates 69 139 282Mechanical Systems 378Military Impacted Areas (MIAs) UFMIP 82Military Income 309Minimum Down Payment 76Minimum Property Requirements (MPR) 338 341Minimum Property Standards (MPS) 338 341Minor Property Conditions that no longer require automatic repair 336MIP - Can it be eliminated by putting more money down? 222MIP - Elimination of Upfront Mortgage Insurance Premiums 223MIP - Termination of Monthly MIP on FHA Refinance Loans 223



MIP - When can FHA MIP be canceled? 223MIP and UFMIP 81Mortgage Amount Calculation for Energy-Related Weatherization 34Mortgage Amount on Refinances 78 422Mortgage Assumptions 228 334Mortgage Credit Certificates (MCC) 69 139 282Mortgage Debt Contingent Liability 91 131 192 334Mortgage Insurance Premium (MIP) 81 86Mortgage Insurance Premium Defined 69Mortgage Loan Limits 76 88Mortgage or Rental Payment History. 218 327Mortgage Payment Expense to Effective Income 89 238Mortgagee Letters (ML) 70Moving Costs - Inducements to Purchase 207 278MPR - Minimum Property Requirements 338 341MPS - Minimum Property Standards 338 341MPS vs. MPR 341Multiple Borrowers 83Mutual Mortgage Insurance (MMI) Fund 10National Pest Control Association (NPCA) 398National Pest Management Association (NPMA) 398Negative Equity Position - Refinance 442Net Sales Proceeds from a Property 111Net Tangible Benefit - Streamline Refinance 440Net Tangible Benefit Worksheet for Streamline Refinance 461New Construction 390New Construction - 10 year warranty plans 405 412New Construction - Builder Approval 408New Construction - Flood Zones 406New Construction - Property Tax Estimates 130 239p yNew Construction - Termite/Pest Treatment 397New Construction Definitions 390New Construction FAQs 404New Construction Forms 414New Construction Inspection Options Guide 401New Construction Required Documentation 390New Construction Second Purchaser 405New Manufactured Housing 402No Cash-Out" Refinances with Appraisals (Credit Qualifying) 424No Credit History 83 317 321 325 331Non Residential Use – Commercial 379Non-Conventional Heating 374Non-Occupying Borrower Transaction 271Non-Permanent Resident Aliens 284Nonprofit Agencies - Secondary Financing 118Nonprofit Organizations & State & Local Government Agencies - Eligibility 246Non-Purchasing Spouses 275Non-Taxable Income 99 124Non-Traditional Credit 83 317 321 325 331Non-Traditional Credit Report 321Notes Receivable 308Notice to Homeowner - Assumption of HUD/FHA-Insured Mortgages 161NPCA - National Pest Control Association 398NPMA - National Pest Management Association 398NTMCR: Non-Traditional Credit Report 321Obligations Not Considered Debt 91 335



Officers Next Door Program 20Origination Forms for FHA Loan 144Origination Guidelines - The Basics 89Origination, Processing & Underwriting 198Originator & Processor FAQs 222Originator Responsibilities 204Other Organizations and Private Individuals - Secondary Financing 119Overtime Income 96Part Time Income 96Payment History Inquiry 181Payment History Inquiry Form 181Permanent Resident Aliens 284Personal Property Items - Inducements to Purchase 207 278Pest Control 380Pest Inspections and Treatment 135 338 380 397 463PETR- Post Endorsement Technical Review 201Phone Numbers for Home Ownership Centers (HOC) 478Plumbing System Requirements 379POA - Power of Attorney 292Poor Condition Properties 382Portability of Appraisal 361Post Endorsement Technical Review (PETR) 201Power of Attorney 292Premium Pricing - Lender Paid Closing Costs 126Premium Pricing Defined 70Preparing To Do FHA Loans…the Required Mentality 198Previous Mortgage Foreclosure 92 142 196 328Private Individuals and Other Organizations - Secondary Financing 119Private Roadways 384Private Savings Clubs - Cash Accumulated with 105gProcessing an FHA Loan 213Processor & Originator FAQs 222Processor Responsibilities 213Program Identification (ID) Code 8Programs and Sections 8Projected Income 125Projected Obligations within 12 months 335Propane Tanks 374Property - Access Standards 343Property - Cosmetic repairs 353Property - Defective Conditions 354Property - Location of Property 374Property - Minor Property Conditions that no longer require automatic repair 135 338Property - Net Sales Proceeds from a Property 111Property - Poor Condition 382Property - Rejection of “Existing” or Newly Constructed Property 344Property - Required repairs 353Property - Restrictions on Non-Residential Use 343Property - Services and Facilities Standards 343Property - Site Condition Standard 343Property - Site Hazards and Nuisances 384Property Eligibility and General Acceptability Standards 341Property Flipping Restrictions 258Property HOT Topics 371Property Inspections - Existing Construction 336 338Property Inspections - New Construction 391



Property Ownership Requirements and Restrictions 249Property Tax Credits & Minimum Investment 224Property Tax Estimates 130 239Property, Appraisal and Inspection Requirements 336Purchase Calculation Worksheet 79Purchase Inducements 207 278Purchase Transactions LTV Limit 76Qualifying Ratios 89 238Quick Summary Matrix - UFMIP and Annual MIP 86Ratios - Debt to Income Ratios 89 238Ratios - Liabilities to Count in Debt Ratio 90Ratios - Qualifying Ratios 89 238Real Estate Certification 144 157Real Estate Commissions as Source of Funds 111Real Estate Owned (REO) Properties - HUD 267Reasonable and Customary Fees 138Recent and/or Undisclosed Debts 327Recently Returned to the Work Force 94 296Refinance - Cash-Out 427Refinance - Maximum Refinancing Term 422Refinance - Mortgage Amount on Refinances 78 422Refinance - No Cash-Out Rate/Term Refinances 424Refinance - Skipped Payments 423Refinance - Streamline Refinance WITH an Appraisal (No Credit Qualifying). 431Refinance - Streamline Refinances 428Refinance - Streamline Refinances WITHOUT an Appraisal. 429Refinance Authorization 463Refinance Calculation Worksheets 448Refinance FAQS 462Refinance of Negative Equity Position 442g q yRefinance Transaction Skipped Payments 423Refinance Transactions 421Refinance Transactions LTV Limit 78 422Refinance Transactions on Manufactured Homes 423Refinance Worksheet - Cash-Out #2 450Refinance Worksheet - Rate and Term #1 448Refinance Worksheet - Streamline WITH Appraisal #4 456Refinance Worksheet - Streamline WITHOUT Appraisal #3 452Refinances and Repairs 382Refinancing to Buy Out Ex-Spouse or Co-borrower Equity 426Regulation HOT Topics 123Rehab Mortgage 203(k) "Streamline” Program Details 17Rehab Mortgage 203(k) Program Details 15Rejection of “Existing” or Newly Constructed Property 344Relocations 252 314Rent Credit 111Rental Income 311Rental Income from Boarder 312Rental Income from Roommate 312Rental or Mortgage Payment History 218 327REO - Real Estate Owned Properties - HUD 267REO HUD Appraisal Requirements 357Repair - Appraisal Repair Requirements 353Repair - Satisfying Repair Requirements 354Repair Allowances - Inducements to Purchase 207 278Required Inspections by Qualified Entities 354



Required Repairs 353Rescoring and Tolerance Levels in TOTAL Scorecard 74 133Resident Aliens 284Responsibilities of Loan Originator 204Responsibilities of Processor 213Restrictions on Non-Residential Use 343Restrictions to Flipping Property 258Retirement Accounts 91 127 189 190 241Retirement Income 98Re-Using an Appraisal 350 422Reverse Mortgage - Section 255 - Seniors (HECM) 14Revolving Accounts 91Revolving Accounts - Qualifying Payment Amount 91RMCR: Residential Mortgage Credit Report: 191 317 319 320Roofs 338 340 382Roofs - Flat 136Roommate Income 312Salaries, Wages, & Other Forms of Effective Income, Overtime & Bonus Income 296Sale of Assets 191Sale of Home 190Sale of Personal Property / Sale of Assets 110Sales Proceeds - Net Sales Proceeds from a Property 111Sales Proceeds / Sale of Home 190Satisfying Repair Requirements 354Savings and Checking Accounts 104Savings Bonds, Etc 106Second Appraisal Requirements 359Second Appraisal when the Borrower Switches Lenders 351Second Purchaser - New Construction 405Secondary Financing 115y gSecondary Financing - 60 Years of Age or Older Borrowers 122Secondary Financing - Family Member 120Secondary Residences 254Section 184 – Native Americans 41Section 203(b) - Regular 12Section 203(h) - Disaster 35Section 203(k) - Re-Hab 15Section 203(k) Streamline Rehab 17Section 255 - Seniors (HECM) Reverse Mortgage 14Section of Act (SOA), What is SOA? 8Section of the Act (SOA) and ADP Code HELP 57Section of the Act (SOA) Defined 70Sections and Programs 8Self-Employed Borrowers 186 291Self-Employed Income Analysis 300Seller Concessions 77 79 90 278Seller Concessions and Verification of Sales 358Seller Contribution Defined 70Seller Contribution Limit 77 79 90 278Septic System 136 206 386Services and Facilities Standards 343Seven-Unit Limitation 221 250 312Sewage and Water Supply Systems - Individual 136 206 339 386Shared Driveways 384 385Short Pay Offs 426Short Sales 330



Single Family HOC Jurisdictions 478Site Condition Standard 343Site Condominium Appraisal 370Site Condominiums 370Site Condominiums Section of the Act and ADP Codes 370Site Hazards and Nuisances 384Sketch - Well and Septic Distance Sketch 388Skipped Payments on Refinance Transaction 423Smoke Detectors 384SOA - Section of Act, What is SOA? 8Social Security Income 98Social Security Number Evidence 216Soil Contamination 384Source of Funds Certification 180Source of Funds for Closing 103Spot Condo Loan Approval Process 369Spouse - Non-Purchasing Spouses 275State & Local Government Agencies & Nonprofit Organizations - Eligibility 246Staying Informed 64Stocks and Bonds 106Streamline Refinance - Credit Qualifying 434Streamline Refinance - Net Tangible Benefit 440Streamline Refinance FAQS 463Streamline Refinance Net Tangible Benefit Worksheet 461Streamline Refinance WITH an Appraisal (No Credit Qualifying). 431Streamline Refinance Worksheets 446Streamline Refinances 428Streamline Refinances WITHOUT an Appraisal. 429Streets - Private 385Streets and Roadways 384yStudent Loans 91Suffix ADP Code Case Number Requirements 62Sump Pumps in Crawl Space and Basement Areas 372Suspended or Debarred Individuals 141 196 227 236Sweat Equity 112Sweat Equity (Work Equity) Agreement and Worksheet 179System Overrides & Manual Downgrades for FHA TOTAL Scorecard 140 195Tax and Insurance Escrows Tolerance and TOTAL Scorecard 74 133Tax Credits - Property Tax Credits & Minimum Investment 224Tax Estimates for Property 130 239Tax Liens - IRS/Federal 141 227Tax Returns 220Tax Service Fee 137Teachers Next Door Program 20Temporary Buydown Schedule Form 56 178Temporary Interest Rate Buydown 49 53 131Temporary Interest Rate Buydown Schedule Disclosure 56 178Ten year warranty plans - New Construction 405 412Term of an Appraisal 350Termination of Monthly MIP on FHA Refinance Loans 223Termite Infestation Probability (TIP) Map 399Termite Inspections and Treatment 135 338 380 397 463Termite Treatment - New Construction 397Terms - FHA 69 472Third Party Documents Handling 130 215Three-and Four-Unit Properties 264



Thrift Savings Plans 105 127Tolerance Levels and Rescoring in TOTAL Scorecard 74 133Total Fixed Payment to Effective Income Ratio 89 238Total Loan Amount Defined 70TOTAL Mortgage Scorecard Defined 69TOTAL Mortgage Scorecard Underwriting Rules 84TOTAL Mortgage Scorecard User Guide 184TOTAL Scorecard - Manual Downgrades 140 204TOTAL Scorecard - Tolerance Levels 74 133TOTAL Scorecard Documentation Relief for “Accept/Approved” 92 132TOTAL Scorecard. What is FHA TOTAL Scorecard? 72Trade Equity 111Transactions Involving 3 and 4 Unit Properties 264Transfer of Appraisal 351Transferring Case Numbers Between Lenders 293TRMCR: Three Repository Merged Credit Report 318Trust Income 307Trusts - Living Trusts 289UFMIP - Elimination of Refunds of UFMIP 132UFMIP - How It Can Be Paid For 205UFMIP "Up Front Mortgage Insurance Premium" Definition 70UFMIP and Annual MIP 81UFMIP and Annual MIP Quick Summary Matrix 86UFMIP Refund Calculation 467Underwriting Rules When Using TOTAL Mortgage Scorecard 84Undisclosed Debts 327Uniform Residential Loan Application, Completing 209Unique Properties 385Up Front Mortgage Insurance Premium (UFMIP) Definition 70 474Upfront and Annual Mortgage Insurance Premiums 81p g gUpfront Mortgage Insurance Premium (UFMIP) Defined 70URLA - Uniform Residential Loan Application, Completing 209Utilities 385Utilities Not On 385VA Benefits 309Vacancy, Collection and Maintenance Cost Factors 265 309Vacant Properties 206Vacating a Jointly Owned Property 253Verification of Deposit (VOD) 189 208Verification of Employment (VOE) 185 208 218Verification of Rent (VOR) or Payment History of Present/Previous Mortgages 218 327VOD - Verification of Deposit 189 208VOE - Verification of Employment 185 208 218Warranty of Completion of Construction - Form HUD-92544 414Water Supply and Sewage Systems - Individual 136 206 339 386Water Systems - See Inspection Requirements 136 206 339 386Water Well 136 206 339 386Weather Related Property Conditions 356Weatherization - Energy 34Web-Site Links to Help You Stay Informed 64Well and Septic Distance Sketch 388What are ADP Codes? 8What FHA insures and does not insure 9 249What is FHA TOTAL Scorecard? 72What is LDP and GSA? 141 196 227 230 233 236Windows 388



Wood Destroying Insect Damage and Treatment 135 338 380 397 463Wood Stoves and Solar Systems 374Work Equity (Sweat) Agreement and Worksheet 179Worksheet - Cash-Out Refinance #2 450Worksheet - Purchase Calculation 79Worksheet - Rate and Term Refinance #1 448Worksheet - Streamline WITH Appraisal Refinance #4 456Worksheet - Streamline WITHOUT Appraisal Refinance #3 452Worksheets - Refinance 448

