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HOUSING AND URBAN DEVELOPMENT FHA TOTAL Mortgage Scorecard User Guide 1/22/2013 FHA TOTAL Mortgage Scorecard User Guide TABLE OF CONTENTS INTRODUCTION.........................................................................................................................
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What is fha total mortgage scorecard?
The FHA Total Mortgage Scorecard is a tool used by the Federal Housing Administration to evaluate and assess the overall risk of a borrower applying for an FHA-insured mortgage.
Who is required to file fha total mortgage scorecard?
Lenders are required to file the FHA Total Mortgage Scorecard when processing applications for FHA-insured mortgages.
How to fill out fha total mortgage scorecard?
Lenders must input relevant borrower information and necessary financial documentation into the FHA Total Mortgage Scorecard in order to generate a risk assessment.
What is the purpose of fha total mortgage scorecard?
The purpose of the FHA Total Mortgage Scorecard is to determine the creditworthiness and risk level of borrowers applying for FHA-insured mortgages.
What information must be reported on fha total mortgage scorecard?
The FHA Total Mortgage Scorecard requires information such as credit scores, income, debt-to-income ratio, and employment history.
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