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HUD Monitors FHA Underwriters, Originators

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01-31-2006, 10:13 PM

Veronica Corningstone Veronica Corningstone is offline

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HUD Monitors FHA Underwriters, Originators

The Department of Housing and Urban Development recently amended guidelines to the Federal Housing Administration Credit Watch Termination Initiative. The final rule provides that both originators and underwriters will be considered to be on Credit Watch Status if they have a default and claim rate on insured mortgages that exceeds 150 percent of the normal rate and its origination approval agreement has not been terminated.

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