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FHA and VA loans
l
Completing the Good Faith Estimate
After you complete the
complete the
Open the Good Faith Estimate from the Forms menu or the shortcut bar.
1
Enter the applicable closing costs and specify whether they are a prepaid finance
2
charge (PFC), FHA-allowable (F), or paid outside of closing (POC).
If you created a closing cost scenario for FHA-allowable closing costs, click CC
3
Scenario to import it here.
Click CC Adjustments for FHA.
4
The
Enter or change the values and click Close.
5
Completing the FHA Loan Underwriting and Transmittal Summary
The
FHA Loan Underwriting and Transmittal Summary
information about the loan, which simplifies the disclosure of loan-level information. This
form is required when submitting an FHA loan to underwriting and is used for both
purchase and refinance loans.
If you completed the
Lending
Use the
unmarried co-borrowers are applying jointly for the loan. Most of the information on this
screen is automatically populated from the borrower screens.
176
Click OK.
•
For more information about defining dropdown list values, refer to
Creating dropdown
•
For more information about the Information screens, refer to
Borrower and prospect information
Borrower Information
Good Faith Estimate
Sellers might not be charged for non-allowable fees unless the contract
specifically states that the seller has agreed to pay them.
FHA: Additional Itemized Closing Costs
For more information about completing the
to
Good Faith
Estimate, on page 119.
Borrower Information
screen, most of the fields are automatically populated.
FHA Loan Underwriting and Transmittal Summary - Combined
Related information
lists, on page 44.
screens, on page 151.
screen and
:
Attention
dialog box is displayed.
Related information
Good Faith Estimate
screen,
Loan Application
Loan Application
,
, refer
contains detailed
, and
Truth-in-
form when
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