Lenders may add, update or delete information in the underwriter registry through FHA Connection. Reference to Mortgagee Letter 96-10 Question 32: What functions can a lender contract out?
There are certain loan origination functions that do not materially affect underwriting decisions, which may be contracted out by mortgagees without increasing the risk to FHA. The types of functions that may be contracted out are: clerical assistance, preparation of loan documents, mailing out and collecting verification forms, ordering credit reports, preparing for endorsements and shipping loans to investors. The Department may approve such other functions.
Related Questions
- Lenders may add, update or delete information in the underwriter registry through FHA Connection. Reference to Mortgagee Letter 96-10 Question 32: What functions can a lender contract out?
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