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The Mortgage U, Inc. FHA Practical Guide provides a comprehensive step by step guide to FHA approval, origination, processing, underwriting, closing, post closing and insuring in an organization and easy look up format. The FHA Practical Guides has been designed to serve as your FHA procedures manual!
The ultimate source for FHA requirements is available in book format from Mortgage U and on line through Allregs. Every chapter includes easy to follow decision-trees, charts and worksheets. You’ll get the right answer the first time, every time, with the most current program updates at your fingertips. The book is continually updated to reflect FHA changes right after the ML’s are published. In addition our staff works with lenders during HUD audits and attends FHA events regularly to keep up to date on the latest FHA hot buttons. MU’s affiliation with Wetzel Trott provides a constant resource to identify trends in the industry and elaborate on best practices throughout the book.Mortgage U, Inc. has created the bible for a practical approach to FHA lending. The FHA PG provides a comprehensive step by step guide for FHA approval, origination, processing, underwriting, closing, post closing and insuring in an organization in an easy look up format. The FHA Practical Guide is designed to serve as your FHA procedures manual! This is the ultimate source for FHA requirements, every chapter includes easy to follow decision-trees, charts and worksheets. You’ll get the right answer the first time, every time, with the most current program updates at your fingertips. The book is continually updated to reflect FHA changes right after the Mortgagee Letters are published.
Mortgage U has collected essential information from 8 HUD guides and all mortgagee letters and created what is sure to become the most sought after tool for FHA lenders. The authors, Alice Alvey, John Gehrke, & Jan Wetzel, have combined their collective expertise (over 75 years in everything from origination through servicing) and the result is an intuitive, comprehensive and extensively researched practical guide to FHA lending.
Unlike other user guides available today, this is NOT just a reprint of the handbooks and memos you already get free from HUD. Our Practical Guide to FHA Lending is 18 chapters that organize information using the mortgage loan flow. Therein you’ll find over 400 pages of “how-to” written in a user friendly format which covers every requirement a lender must follow from DE authority through insuring. With both cross referenced and duplicated information, where applicable, we’ve provided a “one-stop” check point for as many topics as possible.
Throughout the book are Mortgage U’s exclusive worksheets and checklists which are designed with the novice user in mind. As an added bonus, we have inserted “best practices” for lenders to use as guidance for common procedures and widely accepted standards in the industry. And if that isn’t enough, we’ve even included the Homeownership Center information and FHA Connection screenshots.
• Lender approval and renewal requirements
• Direct endorsement underwriting approval requirements
• Topics organized by job description to insure everyone knows his/her role and responsibilities in the FHA loan process
• Checklists and maximum mortgage amount worksheets
• A comprehensive reference table for FHA forms including the elusive forms without a HUD ID number
• Reference notes indicating documents that will impact the HUD case binder and insuring process
• Best practices as identified by HUD and lenders
• References to possible credit overlays established by investors
The FHA Practical Guide is a perfect resource for mortgage lenders, banks, credit unions and brokers even when you are not directly approved by FHA.
MU has worked with Campus MBA to provide training to HUD staff on the FHA loan products and HUD staff have attended our training courses. During these events we have discussed important FHA guidelines to validate areas that are often unclear from one lender to the next. Our best practices may take a conservative approach but will help insure your loan quality is very high and will meet FHA standards.
FHA loans are over 40% of the purchase market nationally. You can’t afford to rely on others or automated underwriting to identify FHA qualified buyers!
What documentation is really needed for a gift? How is the maximum loan amount calculated for a 3 unit property? Do I really need all the FHA forms in my origination system? Is this a credit overlay or real FHA requirement and if it’s an investor overlay does that make it a best practice? Find these answers and hundreds more in the FHA Practical Guide.
For Closers, Post-Closers, and Insurers
A pre-closing checklist that identifies every document that needs to be signed. A post-closing checklist keys in on the most frequent reasons for an NOR. And if that isn’t enough, there’s a blueprint on how to resolve the most common deficiencies to help you get your rejects insured.
Over 80 combined years of industry experience on The Mortgage U Team has enabled the authors to identify best practices for you. They provide tried and true remedies that will help you insure quality throughout the FHA loan process.
$287 – one full guide including one year of quarterly updates
$99 – each subsequent annual quarterly updates [optional]
$0 – free shipping