RISK MITIGATION
FHA Compliance Support
Recent changes in the mortgage industry have increased the emphasis on FHA Lending. In order to qualify for FHA insurance, loans must meet very specific requirements. Since many of our industry experts at Interthinx actually worked in the mortgage industry underwriting FHA loans, they have a very thorough understanding of the data verification necessary to qualify for FHA coverage. To help you remain compliant, we have mapped specific FHA requirements to Interthinx products and services.
EXAMPLES:
Possible Occupancy Issue
FraudGUARD D813 alert can point out that records do NOT show the Subject Property Address as the Owner’s Mailing Address for more than 60 days after the closing date on an owner-occupied transaction. (matched to FHA requirement 4155.1)
Possible Occupancy Issue
FraudGUARD D813 alert can point out that records do NOT show the Subject Property Address as the Owner’s Mailing Address for more than 60 days after the closing date on an owner-occupied transaction. (matched to FHA requirement 4155.1)
Possible Down Payment Issue
FraudGUARD D079 alert can show that the subject ADDRESS matches one of the borrower’s CURRENT addresses on a purchase transaction which would indicate a possible non-arms length transaction requiring further investigation. (matched to FHA requirement 4155.1)
Potential Occupancy Issue
FraudGUARD D501 alert notes that the property type involved is a 3+ unit which is often purchased for investment purposes, not as an OWNER OCCUPIED PURCHASE. (matched to FHA requirement 4060.1)
FHA Webisodes