Enhancement to Assessing Federal Housing Authority (FHA) Mortgages in Loan Prospector

[April 30, 2007]

To make it even easier for you to assess Federal Housing Authority (FHA) mortgages in Loan Prospector, we've enhanced our merged credit functionality for FHA mortgages in Loan Prospector. This change will reduce the number of times you have to reorder merged credit for a FHA loan for a single borrower. With these changes, you will only have to reorder merged credit for a borrower when any of the following changes are made during the loan process:

You change a single borrower’s critical borrower data.
The credit data has expired past the 120 days of credit freshness for the merged credit report for a single borrower.
You select to order a joint merged credit report rather than a single merged credit report and vice versa.

Please note, if additional borrowers are added to the loan, only the additional borrowers’ merged credit will be ordered.