Posted by Carol Graff on 5/22/09 2:13pm
Msg #289634

need help on FHA

Hi, I finally got my first closing and it is an FHA streamline. Is there anything unusual or different that I need to know about on this one? I used to be a loan officer so am familiar with docs, but that was quite a few years ago. Thanks for any help you can give me. PS I live in CA.

Reply by John/CT on 5/22/09 2:19pm
Msg #289635

Re: Help on FHA

Pay close attention to the Addendum to the 1003: Borrowers each sign twice on Page 2 and once on Page 4.

Reply by Teresa/FL on 5/22/09 2:19pm
Msg #289636

Borrowers need to sign page 2 of the app. addendum TWICE n/m

Reply by LisaWI on 5/22/09 2:45pm
Msg #289643

Also, if there is a Lead Based Paint Disclosure.......

They sign once at the top of the first doc and then again on the 3 page. And also, I noticed in the last couple of FHA loans I did, on their FBI Mortgage Fraud page, there is a section in the middle now the borrowers have to check and also input aquistion date of the home.

Reply by BrendaTx on 5/22/09 5:26pm
Msg #289663

Great advice JohnCT and TeresaFL - tricky form

http://www.vba.va.gov/pubs/forms/26-1802a.pdf

Here's a copy of that type of form.

Reply by Les_CO on 5/22/09 4:06pm
Msg #289652

Many times the lender will require a ‘post-dated personal check’ or a cashiers to be enclose with the package… or not….depending on what program they are using, This is usually in the amount of their (current) payment, or perhaps one month’s interest. If you need to pick up a check…confirm with Title/SS/lender.

Reply by BrendaTx on 5/22/09 5:29pm
Msg #289664

Re: need help on FHA - Carol

Don't let the stack overwhelm you.

Go through the documents one at a time and pretty soon you are through the whole stack.

Once they are signed, flip back through and double check that you didn't miss anything.

Reply by Carol Graff on 5/22/09 7:02pm
Msg #289668

Re: need help on FHA - Carol

thanks to everyone for your help.