18 - FHA Manual Index 3-2010 cross index - Loan Officer … 86 136 190 322 FORM: Borrower's Identity of Interest Certification 177 FORM: FHA Amendatory Clause/R.E. Certification Form

CROSS INDEX10 year warranty plans - New Construction 397 404184 Indian Home Loan Guarantee Program 362/1 Buydown - Temporary Interest Rate Buydown 43 47 125203(b) "FHA's Standard" 12203(h) Disaster Victim Loan 30203(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 25830 day extension on 1st appraisal 354401(k) accounts 85 92 99 108 121 293 32954114 Form - DE Underwriter/HUD Reviewer Analysis of the Appraisal 1706% Seller Contribution Limit 71 73 84 27260 Years of Age or Older Borrowers/Secondary Financing 11692541 - How to complete the Builder’s Certification of Plans Specifications 41092541 Form - Builder Certification 40792544 Form - Warranty of Completion of Construction 40692561 Form - FHA Hotel/Transient Use of Property Form 15792564 CN Form - "For Your Protection: Get a Home Inspection" 14992800.5B - Conditional Commitment Statement of Appraised Value 16492800.5B Form - Conditional Commitment 16492900-A Form - Addendum to URLA Form 14192900-B Form - Important Notice to Homebuyers Form 14692900-LT - FHA Loan Underwriting and Transmittal Summary 15892900-LT Form - FHA Loan Underwriting and Transmittal Summary 15892900 LT: Instructions for Completing the 92900 LT 16092900-LT: Instructions for Completing the 92900-LT 160Access Standards 336Acronyms - Common HUD Acronyms 461Adjustable Rate Mortgage (ARM) 40Adjustable Rate Mortgage FAQs 45ADP and Section of the Act (SOA) Code HELP 51ADP Codes 54ADP Codes - What are ADP Codes? 8ADP Suffix Code Case Number Requirements 56Age of Borrower 237Age of Documents 208Aliens - Citizenship and Immigration Status 278Alimony 93 122 182 300 326Alternative Documentation for VOD 183 202Alternative Documentation for VOE 179 202 212Amendatory Clause/R.E. Certification Form 138 151Analysis - Credit Reports and Credit Analysis 311Analysis - Income and Income Analysis 87 179 289Annual MIP and UFMIP 75Annual MIP and UFMIP Quick Summary Matrix 80Answers - FHA Resource Center 58 62Appraisal - Case number Assignment Date 354Appraisal - Change of Client Name 344Appraisal - Communication with Appraiser 354Appraisal - Second Appraisal Requirements 351

Copyright © 2010. David Hail, All rights reserved 972‐772‐5140

Cross Index 1 March 2010

Appraisal - Second Appraisal when the Borrower Switches Lenders 344Appraisal - Seller Concessions and Verification of Sales 350Appraisal - Site Condominium 362Appraisal - Term of an Appraisal 343Appraisal Expiration 208 343Appraisal Extensions 343Appraisal Material Deficiencies 355Appraisal Portability 353Appraisal Portability FAQs 354Appraisal Repair Requirements 346Appraisal Reporting Forms 341Appraisal Requirements 341Appraisal Re-use 343 414Appraisal Transfer 344Appraisal Update and/or Completion Report 345Appraisal, Property and Inspection Requirements 330Appraised Value Disclosure Form 154Appraiser Independence and FHA Connection 349Appraiser Selection in FHA Connection 353Appraisers on Second Lender’s Exclusionary List 354ARM Adjustable Rate Mortgage 40ARM Adjustable Rate Mortgage FAQs 45ARM Pre-Loan Disclosure Requirements 41Asset Information 183Assumptions as CAIVRS Exception 222Attics 364Authorization to Refinance 455Automobile Allowances 92B k t 87 136 190 222 323Bankruptcy 87 136 190 222 323Base Loan Amount Defined 63 458Basements 364Basic FHA Loan Calculations 70Benefits of an FHA Loan 3Boarder Rental Income 306Bonds and Stocks 100Bonus Income 90 290Borrower, Co-borrower and Co-signer Eligibility 237Borrower's Age 237Borrower's Cash Investment in the Property 70 72Borrower's Identity of Interest Certification 177Budget Letter - Source of Funds Certification 174Builder Approval - New Construction 400Builder Certification: Form HUD-92541 407Builder’s Certification of Plans Specifications (HUD 92541) - How to complete 410Buy Out - Refinancing to Buy Out Ex-Spouse or Co-borrower Equity 417Buydown - Temporary Interest Rate Buydown 43 47 125Buydown - Temporary Interest Rate Buydown Schedule 50 172CAIVRS - Credit Alert Interactive Voice Response System 63 135 190 220Calculating the FHA UFMIP Refund for FHA to FHA Refinance 453Calculation of the Maximum Mortgage Amount 70Calculation Worksheet - Purchase 73Canceling FHA MIP 217CAP, Interest Rate - What is an ARM interest rate CAP? 45



CAP, Payment - What is an ARM Payment CAP? 46Case number Assignment Date 354Case Number Transfer Between Lenders 287Cash Accumulated with Private Savings Clubs 99Cash Reserves 68 121 125 127 183 235 266Cash Reserves- IRAs, thrift plans, 401(k)s, etc 99 121Cash Reserves Tolerance and TOTAL Scorecard 68 127Cash Saved At Home (Mattress Money) 98Cash to Close 97Cash-Out Refinance Transaction 418Cash-Out Refinance Worksheet 436Chapter 13 Bankruptcy 87 136 190 222 323Chapter 7 Bankruptcy 87 136 190 222 323CHARM booklet - Consumer Handbook on Adjustable Rate Mortgages 42 466Checking Accounts and Savings 98Child Support 93 122 182 300 326Citizenship and Immigration Status 278Clearing Repair Conditions on Existing Homes 347Closing Cost - Tax Service Fee 131Closing Costs - Reasonable and Customary Fees Allowed 132Co-borrower Equity - Refinancing to Buy Out Ex-Spouse or Co-borrower Equity 417Collateralized Loans 108Collections and Judgments 86 186 322Commercial - Non Residential Use 371Commission from Sale 105Commission Income 90 180 292Communication with Appraiser 354Compensating Factors for Ratio Exceptions 234C l ti th U if R id ti l L A li ti 203Completing the Uniform Residential Loan Application 203Completion Report 345Compliance Inspection Report 348Concessions - Seller Concessions Limits 71 73 84 272Condominium - Manufactured Housing Condominium Projects (MHCP) 361Condominium - Site Condominiums Section of the Act and ADP Codes 362Condominium - Spot Condo Loan Approval Process 361Condominium Units - Utility Rate Expenses 361Condominiums 358Condominiums - Flood Insurance 339Condominiums - Site Condos 363Condos - Refinance of Withdrawn Condominium Project 361Consumer Credit Counseling Payment Plans 119Consumer Handbook on Adjustable Rate Mortgages (CHARM) 42 466Consumer Handbooks - How to Order 42 466Contingent Liabilities 85 125 186 328Co-Signed Obligations 85 328Co-signer Requirements 237 448Cosmetic Repairs 346County Loan Limit Defined 63Crawl Spaces 365Credit - Bankruptcy 87 136 190 222 323Credit - CAIVRS 63 135 190 220Credit - Collection Accounts 86 322Credit - Delinquent Federal Debt 135 189



Credit - Disputed Accounts 137 191Credit - Foreclosure 86 136 190 322Credit - Judgments 86 186 322Credit - Little or No Credit History. 311 315 319 325Credit - Non-traditional Credit 77 311 315 319 325Credit - Suspended or Debarred Individuals 135 190 221 230Credit Alert Interactive Voice Response System (CAIVRS) 63 135 190 220Credit Report - "Thin File" Credit Reports 326Credit Report - Non-Traditional Credit Report (NTMCR) 315Credit Report Inquiries 187 205 219 313 321Credit Reports and Credit Analysis 311Credit Score - Decision Credit Score Defined 77DAP - Down Payment Assistance Programs 96 102Debarred or Suspended Individuals 135 190 221 230Debt - Obligations Not Considered Debt 85 329Debt - Recent and/or Undisclosed Debts 321Debt Ratio - Liabilities to Count in Debt Ratio 84 326Debt to Income Ratios 83 232Decision Credit Score Defined 77Decorating Allowances - Inducements to Purchase 201 272Delinquent Federal Debt 135 189De-Minimus Self-Employed Income 181Depository Accounts 183Direct Endorsement (DE), What is DE? 8Disaster Relief Grants and Loans 108Disclosure - Temporary Interest Rate Buydown 50 172Disputed Accounts 137 191Dividend and Interest Income 301Di V ti J i tl O d P t 247Divorce - Vacating a Jointly Owned Property 247Divorce as CAIVRS Exception 222Documentation Relief for TOTAL Scorecard “Accept/Approved” 86 126Documentation Requirement and FHA TOTAL Scorecard 178Documents Handled by Third Parties 124 209Down Payment Assistance Programs 96 102Down Payment Requirement 70Drainage and Grading 365Earnest Money and Other Deposits 97EEH - Energy Efficient Homes 83 132 274EEM - Energy Efficient Mortgage Worksheet 29EEM Energy Efficient Mortgage 23Effective Income 87 179 289Electrical System Requirements 370Eligibility - Borrower, Co-borrower and Co-signer 237Eligibility for Federally - Related Credit-LDP/GSA 135 190 221 224 227 230Eligibility Requirements for Nonprofit Organizations and State and Local 240Eligible Investment Properties 249Emergency Medical Technician Next Door Loan Program 20Employer Assistance Plans 109Employer Differential Payments 91Employer's Guarantee Plans 108Employment - Frequent Change of Jobs 88 289Employment - Gaps in Employment 88 126 182 214 219 289Employment / Income 87 179 289



Employment by Family-Owned Businesses 294Employment Gaps 88 126 182 214 219 289Energy Efficient Homes (EEH) 83 132 274Energy Efficient Mortgage (EEM) 23Energy Efficient Mortgage (EEM) Worksheet 29Equity Credit 95 102Escrow of Funds for Completion of Construction 349Estimates of Property Taxes 124 233Exceptions to GSA List 230Exceptions to LTV Limits 71Expense Account Payments & Automobile Allowances 92Expiration of Appraisals 208 343Explanation Letters (LOE) Reminders 219Ex-Spouse - Refinancing to Buy Out Ex-Spouse or Co-borrower Equity 417Extension of Appraisal - 30 day extension on 1st appraisal 354Face-to-Face Interviews 198 207Family Member Lending 110Family Size Increase 247Family-Owned Businesses 294FAQs - LDP and GSA (EPLS) 230FAQs - Adjustable Rate Mortgage (ARM) 45FAQs - Appraisal Portability 354FAQs - Originator & Processor 216Faxed documents or printed pages from the Internet. 123 178 208Federal Income Tax Returns 214FHA - Yesterday and Today 5FHA “TOTAL” Mortgage Scorecard Defined 63FHA Allowable and Non-allowable Closing Costs 131 132FHA A d t Cl /R E C tifi ti F 150FHA Amendatory Clause/R.E. Certification Form 150FHA Basics: Getting Started 82FHA Connection Case Query – Finding a Previous Case # 79FHA Forms 138FHA Insurance Funds 10FHA Maximum Mortgage Loan Limits 70 82FHA New Construction 382FHA Programs and Sections 8FHA Resource Center 58 62FHA Roster Inspectors 386FHA Single Family HOC Jurisdictions 464FHA Terms 63 458FHA TOTAL Mortgage Scorecard User Guide 178FHA Total Scorecard Manual Downgrades 134 198FHA’s Post Endorsement Technical Review (PETR) 195Finding a Previous Case # - FHA Connection Case Query 79Firefighter Next Door Loan Program 20Flat Roofs 130Flipping - Property Flipping Restrictions 252Flood Hazard Areas 338Flood Insurance for Condominiums 339Flood Insurance for Manufactured Homes 340Flood Zones - New Construction 398Floor Heaters 366For Your Protection: Get a Home Inspection 149



Foreclosure 86 136 190 322FORM: Borrower's Identity of Interest Certification 177FORM: FHA Amendatory Clause/R.E. Certification Form 150FORM: Gift Letter Form 156FORM: HUD Appraised Value Disclosure Form 154FORM: HUD-54114 - DE Underwriter/HUD Reviewer Analysis of the Appraisal 170FORM: HUD-92541: Builder Certification 407FORM: HUD-92544: Warranty of Completion of Construction 406FORM: HUD-92561 - FHA Hotel/Transient Use of Property Form 157FORM: HUD-92564 CN - "For Your Protection: Get a Home Inspection" 149FORM: HUD-92800.5B - Conditional Commitment 164FORM: HUD-92900-A: Addendum to URLA Form 141FORM: HUD-92900-B: Important Notice to Homebuyers Form 146FORM: HUD-92900-LT - FHA Loan Underwriting and Transmittal Summary 158FORM: Informed Consumer Choice Disclosure Notice Form 148FORM: Lead Base Paint Disclosure 176FORM: Notice to Homeowner - Assumption of HUD/FHA-Insured Mortgages 155FORM: Payment History Inquiry 175FORM: Source of Funds Certification 174FORM: Temporary Buydown Schedule Form 50 172FORM: Work Equity (Sweat) Agreement and Worksheet 173FORMS: Appraisal Reporting Forms 341FORMS: New Construction 406FORMS: Origination Forms 138Foundations 366Frequent Change of Jobs 88 289Funds for Closing 97Gaps of Employment 88 126 182 214 219 289G l A t bilit St d d d P t Eli ibilit 334General Acceptability Standards and Property Eligibility 334General Services Administration (GSA) List 227Getting Started Doing FHA Loans 82Gift Funds 95 100 125 184 235 259 266Gift Letter Form 156Gift of Equity 95 102GNND Maximum Mortgage Calculation Worksheets 21 22Good Neighbor Next Door Program (GNND) 20Government Agencies - Secondary Financing 111Government Assistance Programs 111 303Grading and Drainage 365Grossing-up Non-taxable Income 93 118GSA - General Services Administration 135 190 221 227GSA (EPLS) and LDP FAQS 230GSA and Excluded Parties Listing System (EPLS) 135 190 221 227GSA List Exceptions 230Handrail 366Heating and Cooling Systems 366 370Heating: Space Heaters 366Helpful Links and Contact Information 58History of FHA 5HOC Home Ownership Centers Jurisdictions 464Home Ownership Centers (HOC) Phone Numbers 464HOT Property Topics 363HOT Topics - Regulations 117



Hot Water Heaters 366Hotel and Transient Use 140 157 215 251How can I stay informed on FHA regulation changes? 58How to complete the Builder’s Certification of Plans Specifications (HUD 92541) 410How to Eliminate FHA monthly MIP 216How to Order Consumer Handbooks 466How to Stay Informed 58HUD Appraised Value Disclosure Form 154HUD Real Estate Owned (REO) Properties 261HUD-54114: DE Underwriter/HUD Reviewer Analysis of the Appraisal Report 170HUD-92541 - How to complete the Builder’s Certification of Plans Specifications 410HUD-92541: Builder Certification 407HUD-92544: Warranty of Completion of Construction 406HUD-92561: FHA Hotel/Transient Use of Property Form 157HUD-92564 CN: "For Your Protection: Get a Home Inspection" 149HUD-92800.5B: Conditional Commitment 164HUD-92900-A: Addendum to URLA Form 141HUD-92900-B: Important Notice to Homebuyers Form 146HUD-92900-LT: FHA Loan Underwriting and Transmittal Summary 158Hybrid ARM - What is a Hybrid ARM? 46Identity of Interest Certification Form 177Identity of Interest Transaction 270Immigration and Citizenship Status 278Income - "De-Minimus" Self-Employed Income 182Income - Alimony 93 122 182 300Income - Analyzing Income of Self-Employed 294Income - Bonus 90 290Income - Child Support 93 122 182 300I C i i 90 180 292Income - Commission 90 180 292Income - Dividend and Interest 301Income - Effective Income 87 179 289Income - Employment 87 179Income - Maintenance Income 93 122 182 300Income - Military Income 303Income - Notes Receivable 302Income - Part Time 90Income - Projected Income 119Income - Rental Income from Boarder 306Income - Rental Income from Roommate 306Income - Retirement 92Income - Seasonal Income 90Income - Social Security 92Income - Trust 301Income and Income Analysis 87 179 289Income Stability 289Income Tolerance and TOTAL Scorecard 68 127Increase in Family Size 247Index - What is an ARM Index? 45Indian Home Loan Guarantee Program (Section 184) 36Inducements to Purchase 201 272Informed Consumer Choice Disclosure Notice Form 148Inquiries on Credit Report 187 205 219 313 321Inspection Requirements 129 331



Inspection, Property and Appraisal Requirements 330Inspections - Required Inspections by Qualified Entities 347Inspectors - FHA Roster 386Insurance and Tax Escrows Tolerance and TOTAL Scorecard 68 127Interest and Dividend Income 301Interest Rate Buydown, Temporary 43 47 125Interested Third Party - Documents Handling 124 209Internet Generated Documents 123 179 208Investment Properties 249 302 431Investor - Seven Unit Limitation 215 244 306IRAs, Thrift Savings Plans, 401(k)s & Keogh Accounts 99 121IRS Tax Liens 135 221Judgments and Collections 86 186 322Keogh accounts 99 121Kiddie Condo 267Late Mortgage Payments 136 186 191Law Enforcement Officers Loan 20LDP - Limited Denial of Participation 135 190 221 224 230LDP and GSA - What is LDP and GSA? 135 190 221 224 227 230LDP and GSA (EPLS) FAQS 230Lead Base Paint Disclosure 176Lead-Based Paint Standards 336Letters of Explanation (LOE) Reminders 219Liabilities 84 326Liabilities - Contingent Liabilities on Mortgage Debt 85 125 186 328Liabilities - Co-Signed Obligations 85 328Liabilities - Obligations Not Considered Debt 85Liabilities to Count in Debt Ratio 84 326Li it d D i l f P ti i ti (LDP) 135 190 221 224 230Limited Denial of Participation (LDP) 135 190 221 224 230Links to Helpful Web-Sites 58Living Trusts 283Loan Application Forms 138Loan Application Interview 198 207Loan Documentation Requirements 178Loan Limits 70 82Loan Origination Fee 131Loan Origination Forms - FHA 138Loan Origination Guidelines - The Basics 83Loan Originator Responsibilities 198Location of Property 366LOE - Letters of Explanation Reminders 219LTV - Maximum LTV Quick Summary Matrix 74LTV Limit Exceptions 71LTV Limit for Purchase Transactions 70LTV Limit for Refinance Transactions 72 414Maintenance Income 93 122 182 300Manual Downgrades and System Overrides for FHA TOTAL Scorecard 134 189Manufactured Homes - Eligibility and General Requirements 334 335 367Manufactured Homes - Flood Insurance 340Manufactured Homes - Refinance Transactions 415Manufactured Homes - Refinance Transactions 415Manufactured Housing - New 394Manufactured Housing Condominium Projects (MHCP) 361



Margin - What is an ARM Margin? 45Maximum Loan Amount Defined 63Maximum LTV Quick Summary Matrix 74Maximum Mortgage Amount and Down Payment 70Maximum Mortgage Calculation Worksheets - GNND 21 22Maximum Mortgage Loan Limits 70 82MCC - Mortgage Credit Certificates 63 133 276Mechanical Systems 370Military Impacted Areas (MIAs) UFMIP 76Military Income 303Minimum Down Payment 70Minimum Property Requirements (MPR) 331 334Minimum Property Standards (MPS) 331 334Minor Property Conditions that no longer require automatic repair 330MIP - Can it be eliminated by putting more money down? 216MIP - Elimination of Upfront Mortgage Insurance Premiums 217MIP - Termination of Monthly MIP on FHA Refinance Loans 217MIP - When can FHA MIP be canceled? 217MIP and UFMIP 75Mortgage Amount on Refinances 72 414Mortgage Assumptions 222 328Mortgage Credit Certificates (MCC) 63 133 276Mortgage Debt Contingent Liability 85 125 186 328Mortgage Insurance Premium (MIP) 75 80Mortgage Insurance Premium Defined 63Mortgage Loan Limits 70 82Mortgage or Rental Payment History. 212 321Mortgage Payment Expense to Effective Income 83 232M t L tt (ML) 64Mortgagee Letters (ML) 64Moving Costs - Inducements to Purchase 201 272MPR - Minimum Property Requirements 331 334MPS - Minimum Property Standards 331 334MPS vs. MPR 334Multiple Borrowers 77Mutual Mortgage Insurance (MMI) Fund 10National Pest Control Association (NPCA) 390National Pest Management Association (NPMA) 390Net Sales Proceeds from a Property 105New Construction 382New Construction - 10 year warranty plans 397 404New Construction - Builder Approval 400New Construction - Flood Zones 398New Construction - Property Tax Estimates 124 233New Construction - Termite/Pest Treatment 389New Construction Definitions 382New Construction FAQs 396New Construction Forms 406New Construction Inspection Options Guide 393New Construction Required Documentation 382New Construction Second Purchaser 397New Manufactured Housing 394No Cash-Out" Refinances with Appraisals (Credit Qualifying) 416No Credit History 77 311 315 319 325



Non Residential Use – Commercial 371Non-Conventional Heating 366Non-Occupying Borrower Transaction 265Non-Permanent Resident Aliens 278Nonprofit Agencies - Secondary Financing 112Nonprofit Organizations & State & Local Government Agencies - Eligibility 240Non-Purchasing Spouses 269Non-Taxable Income 93 118Non-Traditional Credit 77 311 315 319 325Non-Traditional Credit Report 315Notes Receivable 302Notice to Homeowner - Assumption of HUD/FHA-Insured Mortgages 155NPCA - National Pest Control Association 390NPMA - National Pest Management Association 390NTMCR: Non-Traditional Credit Report 315Obligations Not Considered Debt 85 329Officers Next Door Program 20Origination Forms for FHA Loan 138Origination Guidelines - The Basics 83Origination, Processing & Underwriting 192Originator & Processor FAQs 216Originator Responsibilities 198Other Organizations and Private Individuals - Secondary Financing 113Overtime Income 90Part Time Income 90Payment History Inquiry 175Payment History Inquiry Form 175Permanent Resident Aliens 278P l P t It I d t t P h 201 272Personal Property Items - Inducements to Purchase 201 272Pest Control 372Pest Inspections and Treatment 129 331 372 389 449PETR- Post Endorsement Technical Review 195Phone Numbers for Home Ownership Centers (HOC) 464Plumbing System Requirements 371POA - Power of Attorney 286Poor Condition Properties 374Portability of Appraisal 353Post Endorsement Technical Review (PETR) 195Power of Attorney 286Premium Pricing - Lender Paid Closing Costs 120Premium Pricing Defined 64Preparing To Do FHA Loans…the Required Mentality 192Previous Mortgage Foreclosure 86 136 190 322Private Individuals and Other Organizations - Secondary Financing 113Private Roadways 376 377Private Savings Clubs - Cash Accumulated with 99Processing an FHA Loan 207Processor & Originator FAQs 216Processor Responsibilities 207Program Identification (ID) Code 8Programs and Sections 8Projected Income 119Projected Obligations within 12 months 329



Propane Tanks 366Property - Access Standards 336Property - Cosmetic repairs 346Property - Defective Conditions 347Property - Location of Property 366Property - Minor Property Conditions that no longer require automatic repairProperty - Net Sales Proceeds from a Property 105Property - Poor Condition 374Property - Rejection of “Existing” or Newly Constructed Property 337Property - Required repairs 346Property - Restrictions on Non-Residential Use 336Property - Services and Facilities Standards 336Property - Site Condition Standard 336Property - Site Hazards and Nuisances 376Property Eligibility and General Acceptability Standards 334Property Flipping Restrictions 252Property HOT Topics 363Property Inspections - Existing Construction 330 331Property Inspections - New Construction 383Property Ownership Requirements and Restrictions 243Property Tax Credits & Minimum Investment 218Property Tax Estimates 124 233Property, Appraisal and Inspection Requirements 330Purchase Calculation Worksheet 73Purchase Inducements 201 272Purchase Transactions LTV Limit 70Qualifying Ratios 83 232Quick Summary Matrix - UFMIP and Annual MIP 80R ti D bt t I R ti 83 232Ratios - Debt to Income Ratios 83 232Ratios - Liabilities to Count in Debt Ratio 84Ratios - Qualifying Ratios 83 232Real Estate Certification 138 151Real Estate Commissions as Source of Funds 105Real Estate Owned (REO) Properties - HUD 261Reasonable and Customary Fees 132Recent and/or Undisclosed Debts 321Recently Returned to the Work Force 88 290Refinance - Cash-Out 418Refinance - Maximum Refinancing Term 414Refinance - Mortgage Amount on Refinances 72 414Refinance - No Cash-Out Rate/Term Refinances 416Refinance - Skipped Payments 415Refinance - Streamline Refinance WITH an Appraisal (No Credit Qualifying). 422Refinance - Streamline Refinances 420Refinance - Streamline Refinances WITHOUT an Appraisal. 421Refinance Authorization 455Refinance Calculation Worksheets 434Refinance FAQS 448Refinance Transaction Skipped Payments 415Refinance Transactions 413Refinance Transactions LTV Limit 72 414Refinance Transactions on Manufactured Homes 415Refinances and Repairs 374



Refinancing to Buy Out Ex-Spouse or Co-borrower Equity 417Regulation HOT Topics 117Rehab Mortgage 203(k) "Streamline” Program Details 17Rehab Mortgage 203(k) Program Details 15Rejection of “Existing” or Newly Constructed Property 337Relocations 246 308Rent Credit 105Rental Income 305Rental Income from Boarder 306Rental Income from Roommate 306Rental or Mortgage Payment History 212 321REO - Real Estate Owned Properties - HUD 261Repair - Appraisal Repair Requirements 346Repair - Satisfying Repair Requirements 347Repair Allowances - Inducements to Purchase 201 272Required Inspections by Qualified Entities 347Required Repairs 346Rescoring and Tolerance Levels in TOTAL Scorecard 68 127Resident Aliens 278Responsibilities of Loan Originator 198Responsibilities of Processor 207Restrictions on Non-Residential Use 336Restrictions to Flipping Property 252Retirement Accounts 85 121 183 184 235Retirement Income 92Re-Using an Appraisal 343 414Reverse Mortgage - Section 255 - Seniors (HECM) 14Revolving Accounts 85R l i A t Q lif i P t A t 85Revolving Accounts - Qualifying Payment Amount 85RMCR: Residential Mortgage Credit Report: 185 311 313 314Roofs 331 333 374Roofs - Flat 130Roommate Income 306Salaries, Wages, & Other Forms of Effective Income, Overtime & Bonus Income 290Sale of Assets 185Sale of Home 184Sale of Personal Property / Sale of Assets 104Sales Proceeds - Net Sales Proceeds from a Property 105Sales Proceeds / Sale of Home 184Satisfying Repair Requirements 347Savings and Checking Accounts 98Savings Bonds, Etc 100Second Appraisal Requirements 351Second Appraisal when the Borrower Switches Lenders 344Second Purchaser - New Construction 397Secondary Financing 109Secondary Financing - 60 Years of Age or Older Borrowers 116Secondary Financing - Family Member 114Secondary Residences 248Section 184 – Native Americans 36Section 203(b) - Regular 12Section 203(h) - Disaster 30Section 203(k) - Re-Hab 15



Section 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 51Section of the Act (SOA) Defined 64Sections and Programs 8Self-Employed Borrowers 180 285Self-Employed Income Analysis 294Seller Concessions 71 73 84 272Seller Concessions and Verification of Sales 350Seller Contribution Defined 64Seller Contribution Limit 71 73 84 272Septic System 130 200 378Services and Facilities Standards 336Seven-Unit Limitation 215 244 306Sewage and Water Supply Systems - Individual 130 200 332 378Shared Driveways 376 377Short Pay Offs 418Short Sales 324Single Family HOC Jurisdictions 464Site Condition Standard 336Site Condominium Appraisal 362Site Condominiums 362Site Condominiums Section of the Act and ADP Codes 362Site Hazards and Nuisances 376Sketch - Well and Septic Distance Sketch 380Skipped Payments on Refinance Transaction 415Smoke Detectors 376SOA S ti f A t Wh t i SOA? 8SOA - Section of Act, What is SOA? 8Social Security Income 92Social Security Number Evidence 210Soil Contamination 376Source of Funds Certification 174Source of Funds for Closing 97Spot Condo Loan Approval Process 361Spouse - Non-Purchasing Spouses 269State & Local Government Agencies & Nonprofit Organizations - Eligibility 240Staying Informed 58Stocks and Bonds 100Streamline Refinance FAQS 449Streamline Refinance Net Tangible Benefit Worksheet 447Streamline Refinance WITH an Appraisal (No Credit Qualifying). 422Streamline Refinance Worksheets 438Streamline Refinances 420Streamline Refinances WITHOUT an Appraisal. 421Streets - Private 377Streets and Roadways 376Student Loans 85Suffix ADP Code Case Number Requirements 56Sump Pumps in Crawl Space and Basement Areas 364Suspended or Debarred Individuals 135 190 221 230Sweat Equity 106Sweat Equity (Work Equity) Agreement and Worksheet 173



System Overrides & Manual Downgrades for FHA TOTAL Scorecard 134 189Tax and Insurance Escrows Tolerance and TOTAL Scorecard 68 127Tax Credits - Property Tax Credits & Minimum Investment 218Tax Estimates for Property 124 233Tax Liens - IRS/Federal 135 221Tax Returns 214Tax Service Fee 131Teachers Next Door Program 20Temporary Buydown Schedule Form 50 172Temporary Interest Rate Buydown 43 47 125Temporary Interest Rate Buydown Schedule Disclosure 50 172Ten year warranty plans - New Construction 397 404Term of an Appraisal 343Termination of Monthly MIP on FHA Refinance Loans 217Termite Infestation Probability (TIP) Map 391Termite Inspections and Treatment 129 331 372 389 449Termite Treatment - New Construction 389Terms - FHA 63 458Third Party Documents Handling 124 209Three-and Four-Unit Properties 258Thrift Savings Plans 99 121Tolerance Levels and Rescoring in TOTAL Scorecard 68 127Total Fixed Payment to Effective Income Ratio 83 232Total Loan Amount Defined 64TOTAL Mortgage Scorecard Defined 63TOTAL Mortgage Scorecard Underwriting Rules 78TOTAL Mortgage Scorecard User Guide 178TOTAL Scorecard - Manual Downgrades 134 198TOTAL S d T l L l 68 127TOTAL Scorecard - Tolerance Levels 68 127TOTAL Scorecard Documentation Relief for “Accept/Approved” 86 126TOTAL Scorecard. What is FHA TOTAL Scorecard? 66Trade Equity 105Transactions Involving 3 and 4 Unit Properties 258Transfer of Appraisal 344Transferring Case Numbers Between Lenders 287TRMCR: Three Repository Merged Credit Report 312Trust Income 301Trusts - Living Trusts 283UFMIP - Elimination of Refunds of UFMIP 126UFMIP - How It Can Be Paid For 199UFMIP "Up Front Mortgage Insurance Premium" Definition 64UFMIP and Annual MIP 75UFMIP and Annual MIP Quick Summary Matrix 80UFMIP Refund Calculation 453Underwriting Rules When Using TOTAL Mortgage Scorecard 78Undisclosed Debts 321Uniform Residential Loan Application, Completing 203Unique Properties 377Up Front Mortgage Insurance Premium (UFMIP) Definition 64 460Upfront and Annual Mortgage Insurance Premiums 75Upfront Mortgage Insurance Premium (UFMIP) Defined 64URLA - Uniform Residential Loan Application, Completing 203Utilities 377



Utilities Not On 377VA Benefits 303Vacancy, Collection and Maintenance Cost Factors 259 303Vacant Properties 200Vacating a Jointly Owned Property 247Verification of Deposit (VOD) 183 202Verification of Employment (VOE) 179 202 212Verification of Rent (VOR) or Payment History of Present/Previous Mortgages 212 321VOD - Verification of Deposit 183 202VOE - Verification of Employment 179 202 212Warranty of Completion of Construction - Form HUD-92544 406Water Supply and Sewage Systems - Individual 130 200 332 378Water Systems - See Inspection Requirements 130 200 332 378Water Well 130 200 332 378Weather Related Property Conditions 349Web-Site Links to Help You Stay Informed 58Well and Septic Distance Sketch 380What are ADP Codes? 8What FHA insures and does not insure 9 243What is FHA TOTAL Scorecard? 66What is LDP and GSA? 135 190 221 224 227 230Windows 380Wood Destroying Insect Damage and Treatment 129 331 372 389 449Wood Stoves and Solar Systems 366Work Equity (Sweat) Agreement and Worksheet 173Worksheet - Purchase Calculation 73Worksheets - Refinance 434

