Instructor-Led Online Course
Are you ready for the next step in FHA underwriting? Intermediate FHA Underwriting is designed to enhance your underwriting knowledge and abilities to include an in-depth understanding of FHA TOTAL Scorecard requirements, and those scenarios in which a manual downgrade is required. It will also include the “Red Flags” as identified by FHA, which require a much deeper review of the documentation.
This instructor-led online course, presented in four 90-minute sessions, will concentrate on scenarios that address challenges that are present in today’s market. This course is delivered through the WebEx conferencing platform. You will have asynchronous activities to complete, as weekly assignments, to reinforce your learning, along with quizzes. Developed by leading industry experts, this course will provide you with the skills you need to start underwriting FHA loans.
Upon completion of the course, students will be able to:
- Total Scorecard – Review Guide
- Data Input - Integrity
- Resubmission Requirements & Tolerances
- What AUS does not consider
- Understanding of Total Scorecard
- How to correctly input data
- How to accurately condition the loan approval to meet the requirements of the DU findings
- Triggers for a Manual Downgrade
- What constitutes a Manual Downgrade
- Documentation requirements of a Manual
- Analyze Credit Report Samples
- Risk Assessment of Credit to include MTGEE LTR 2012-03
- Identify when a Manual Downgrade required based upon review of credit report
- Understand the differences between AUS documentation requirements and Manual UW documentation requirements
- Review New Requirements per MTGEE Ltr 2012-03 for S/E
- Re-entering the Workforce
- Second Job Income
- Non-Employment Sources of Income Documentation
- Source of Funds Documentation
- Gifts to include Gifts of Equity & DPA’s
- Manual Downgrade
- Income Documentation requirements
- How to review Income & Asset documentation for AUS
- Analysis for determination of income for stability & inclusion for qualifying
- Understanding the requirements for Gifts to include donor eligibility
- Appraisal General Requirements/Reminders
- FHA Flipping Requirements
- FHA Condo Project Re-certification requirements
- Improve FHA Appraisal requirements knowledge
- Successfully identify and analyze a FHA Flip
- Comprehensive knowledge of FHA requirements for a Condo Project Re-Certification
The training sessions utilize WebEx technology in conjunction with audio conferencing. Polling capabilities, live chat, and question & answer sessions allow participants to easily interact with subject matter experts. The course consists of four 90-minute sessions over a 4-week period. Pre-reading and exercises are included and accessed through the AllRegs Academy learning management system. Participants are required to complete assignments prior to each session.
Choose from the upcoming four-week course sessions:
Upon successful completion of this course, you will earn 6 hours of credit towards the Residential Government Underwriter (RGU) certification.
The course is $365 per person. Tuition includes all course materials. Upon successfully completing the course, students will earn an industry-recognized certificate of completion.
For more information, call our sales and customer service department at (800) 848-4904 or email firstname.lastname@example.org.