fha streamline: FHA Streamline Submission Checklist - 02/02/08 03:22 AM
With rates dropping, and expected to continue to drop, we're going to see more demand for FHA Streamlines (non-credit qualifying rate/term refinances of borrowers who currently have an FHA loan).   
Below is some general information on them, and a Submission Checklist
 
Appraisal not required if loan amount does not exceed original loan amount DU Findings are not required Employment information is required on the 1003 Income and Assets are not required on the 1003 Max 1x30 on the Mortgage last 12 months Must be 0x30 at closing Max $250 cash out VOM required at Submission Not allowed in Colorado, Minnesota, Nevada, … (7 comments)

fha streamline: FHA Streamline Submission Checklist - 02/02/08 03:19 AM
With rates dropping, and expected to continue to drop, we're going to see more demand for FHA Streamlines (non-credit qualifying rate/term refinances of borrowers who currently have an FHA loan).   
Below is some general information on them, and a Submission Checklist
Appraisal not required if loan amount does not exceed original loan amount DU Findings are not required Employment information is required on the 1003 Income and Assets are not required on the 1003 Max 1x30 on the Mortgage last 12 months Must be 0x30 at closing Max $250 cash out VOM required at Submission Not allowed in Colorado, Minnesota, Nevada, … (3 comments)

fha streamline: FHA Streamline – Submission Tips - 12/19/07 06:56 AM
FHA Streamline - Submission Tips
 
·       Do Not disclose FICO score - do not write FICO score on rate lock form -
·       Do not run automated findings - manual underwrite only -
·       If the new base loan amount does not exceed the total loan amount from the previous loan, an appraisal is not required
·       Credit report - Mortgage rating only w/NO FICO Scores - need most recent 12 months unless loan is less than 12 months old
·       Copy of the current NOTE - not the MORTGAGE, not the HUD-1 - need the NOTE
·       Payoff letter should be submitted with file or … (5 comments)

 

Kris Krajecki

Mortgage Broker Huntley, IL

Huntley, IL

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Kris Krajecki - FOX VALLEY MORTGAGE - Huntley, IL

Office: (847) 426-3431

Mobile: (630) 347-6321

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