What is the FHA TOTAL Scorecard?
The FHA TOTAL Scorecard was developed by HUD to evaluate the credit risk of FHA loans that are submitted to an automated underwriting system. To underwrite an FHA loan electronically, a mortgagee must process the request through an automated underwriting system that can communicate with the FHA TOTAL Scorecard.
Related Questions
- The proposed rule requires that all mortgages be scored through FHAs TOTAL Mortgage Scorecard. Why is that and how does this benefit the lender or the borrower?
- What type of set-up is required to access the Federal Housing Administration (FHA) TOTAL Mortgage Scorecard?
- What is the FHA TOTAL Scorecard?
