Point User Guide
177
FHA loans
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Mtg Insurance
The
Mtg Insurance
button opens the
Mortgage Insurance Premium/
Funding Fee
dialog box which is used to calculate mortgage insurance fees for
conventional and government loans.
FHA Stat Req
Opens the
FHA Statutory Requirements Worksheet
which is used to provide
required statutory calculations with FHA loan applications.
To complete the
FHA Loan Underwriting and Transmittal Summary
:
1
Select
Forms > Federal Housing Administration (FHA) > FHA Loan Underwriting
and Transmittal Summary (HUD 92900-LT)
to open the
FHA Transmittal
Summary
.
Most of the borrower and property information is populated from the
Borrower
Information
screen and
Loan Application
.
2
Enter the case number in the
FHA
Case
Number
field.
3
Select the section under which the mortgage is to be insured from the
Section of the
Housing Act
dropdown list.
4
Enter the underwriter’s CHUMS ID number in the
CHUMS
ID
field.
5
Enter the CHUMS ID number of the underwriter who reviewed the appraisal in the
CHUMS
ID
for
Appraisal
Reviewer
field.
Complete this field when the underwriter who reviewed the appraisal is different from
the one who reviewed the credit package.
6
The
Scored by TOTAL
check box is selected by default. Select the risk classification
option that corresponds to the TOTAL results for your loan:
•
Select
A/A
to indicate that FHA will insure the loan with reduced documentation.
