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Helpful Tools
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Lenders
can subscribe
to the Single Family Housing email list. You will get
frequent updates to the HOC Reference Guide, FHA mortgage
limit increase updates, training and event announcements,
mortgagee letters and notices about your Single Family
business.
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FHA's Lender Insurance Program (LI) enables high-performing lenders
to insure FHA forward mortgage loans without a pre-endorsement review
by HUD.
This expedited procedure is part of HUD's overall effort to make
the processing of FHA loans easier and more cost-efficient so that
lenders will be better able to offer FHA-insured loans and expand
the availability of affordable financing for potential homebuyers.
With the LI program, lenders self insure FHA loans and submit only
those case binders (paper or electronic) when requested for review
by HUD. HUD requests approximately 6% of insured loans for review.
This new, re-designed process has reduced processing time by one
third and decreased direct insuring expense by as much as 25 percent.
The need to submit case binders to satisfy Notices of Return (NORs)
has been dramatically reduced under LI.
Lenders can find out more about the Lender Insurance Program by
reading the Lender
Insurance Guide. FHA Single Family has provided this guide to
assist lenders, Homeownership Center (HOC) staff, and contractors
who participate in the pre-insurance review, post endorsement technical
review, and appraisal review processes, HUD
Mortgagee Letter 2005-36 provides LI program guidance. Also
see HUD's Press
release of 9/26/05 that announces this program. The Electronic
Case Binder Developer's Guide provides information for lenders'
software development and maintenance staff regarding the submission
of electronic case binders.
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