Print this pageSome investors allow originators to submit FHA loans via DO/DU Express (check with your investor directly to see whether or not they accept government loans). Desktop Underwriter® requires additional information for FHA loans in the DO/DU Express data entry section and in the Loan App Details of Transaction section.
FHA Loan Information in DO/DU Express
The two data entry sections that require specific FHA loan data are: Loan Type Information and FHA Information.
-
In the Loan Type Information section, select FHA as the type of Mortgage Applied For. Click Show Detail to display fields required for FHA submissions.
Steps 2 - 11 refer to the FHA Information Section
Agency Case #: Enter the FHA case number.
-
Section of the Act: Select the appropriate section of the National Housing Act used in underwriting the loan. The code identifies the underwriting guidelines that should be used for loan evaluation.
Property County: Select the subject property county from the list. If the county name is not listed, select ALL OTHERS.
-
Monthly MCC: Enter the amount from the Mortgage Credit Certificate. Desktop Underwriter® will subtract the amount entered in this field from the amount entered in the proposed monthly housing payment in section V of Loan App.
-
Seller Concessions: Enter the amount of the seller contributions over the 6% contribution limit for an FHA loan.
Type of Refinance: Select the appropriate refinance type: Full Documentation, Streamline with Appraisal, or Streamline without Appraisal.
-
MIP Refund Amount: For refinance loans, enter the amount of MIP that will be refunded to the borrower. This applies if the loan being refinanced is an FHA insured loan and is entitled to an unearned MIP refund. Enter the lower of the total unearned UFMIP (Up-Front Mortgage Insurance Premium) or the new UFMIP charged on the subject refinance.
FHA Lender ID: Enter your company's FHA Lender ID (issued by HUD).
FHA Sponsor ID: If you are an originator, enter your investor's FHA Lender ID. Underwriters and DE (direct endorsement) lenders will leave this field blank on initial submission.
CAIVR Number: Not required for origination (getting the AU decision), but required for the final 1003. Enter the CAIVR number for each borrower.
Loan App VII Details of Transaction
Use Loan App to enter loan data for FHA loans in the Details of Transaction section (Tab VII. Details).
-
e. Estimated Prepaid Items: Amount of borrower-paid (net of any seller or third-party paid amounts). Enter the amount that appears on the Mortgage Credit Analysis Worksheet (MCAW) line 12b.
-
f. Estimated Closing Costs: Total amount of FHA-allowable closing costs. Enter the amount that appears on the Mortgage Credit Analysis Worksheet (MCAW) line 5a.
-
g. PMI, MIP, Funding Fee: Total amount of Up-Front Mortgage Insurance Premium (UFMIP). Enter the amount that appears on the Mortgage Credit Analysis Worksheet (MCAW) line 3b.
-
h. Discount (if Borrower will pay): Amount of borrower-paid discounts (net of any seller or third-party paid amounts). Enter the amount that appears on the Mortgage Credit Analysis Worksheet (MCAW) line 12c.
j. Subordinate Financing: Total amount of subordinate financing. Enter the amount that appears on the Mortgage Credit Analysis Worksheet (MCAW) line 12k.
-
k. Borrower's Closing Costs Paid by Seller: Amount of seller-paid FHA-allowable closing costs (seller-paid prepaids and discounts should be netted out of lines e and h and not shown here). Enter the amount that appears on the Mortgage Credit Analysis Worksheet (MCAW) line 5b.
-
n. PMI, MIP Funding Fee Financed: Amount of financed Up-Front Mortgage Insurance Premium (UFMIP). Enter the amount that appears on the Mortgage Credit Analysis Worksheet (MCAW) lines 3b-12e.
Other Credits Detail: Use the Other Credits Detail table to enter the amount that appears on the Mortgage Credit Analysis Worksheet (MCAW) line 12f as a negative number.
DO Express and DU Express are services accessing Desktop Underwriter® a registered trademark of Fannie Mae.