ENCOMPASS
This is where you go to update the loan balance
VOL
What is the max incidental cash that a borrower can receive on an FHA?
$500
What doc type do you select in Encompass on an FHA streamline refinance?
Streamline Refinance
GUIDELINE:
Must the debts of a non-borrowing spouse be included in the qualifying ratios on an FHA rate/term refinance?
Yes
This is where the loan is exported from into Encompass
Velocify
This is the first form on an FHA loan
FHA Management
What is the monthly MIP percentage on an FHA streamline refi
.55%
The button you click to exclude appraisal requirement
PIW
ENCOMPASS:
What information must be entered in the Property Information section of FHA Management - Basic tab on an FHA streamline loan?
Purchase date and last refi date
What state has a net tangible benefit disclosure
Colorado
The tool used to request MIP, FF, MI
Pencil
The minimum number of payments required to be made on an FHA
6
What Purpose of Refinance do you select on an FHA streamline refi
No Cash-out FHA Streamlined
You go here to look for guidance on FHA guidelines
AllRegs
Guidelines that are beyond AUS findings are this.
Overlays
Intent to proceed is located here
LE page 1
True or false and appraisal and AUS are required on a FHA Streamline loan?
False
File Contacts are located here
Tools
These are the two types of FHA refinances
Credit qualifying, Non-credit qualifying
Rate/term, streamline
Mortgage insurance premium is obtained for this type of loan
FHA
The tab in FHA Management where the Case # is entered
Tracking
No. Borrower must pay for those outside of closing.
The name of the folder where the most recent 30 day utility bill is uploaded
Credit: Other
True or false, PHH allows non-PHH originated FHA streamline loans
False
What form must be wet-signed by all borrowers
SSA Auth