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Federal Housing Administration's TOTAL Scorecard: Questions and Answers

Overview

  1. What type of set-up is required to access the Federal Housing Administration (FHA) TOTAL Mortgage Scorecard? 
  2. Will I get a Document Checklist with the FHA TOTAL Mortgage Scorecard Feedback Certificate? 
  3. What is the FHA Lender ID and how is it used? 
  4. What is the FHA Sponsor ID and how is it used? 
  5. What is the FHA Case Number? 
  6. How do I get a FHA case number? 
  7. Will I receive an error message, if I forget or incorrectly enter the FHA Lender ID/Sponsor ID or Case Number? 
  8. I access LoanProspector.com via a loan origination system (LOS) or a point of sale (POS) interface – Is there a different process for resubmitting FHA loans using these interfaces? 
  9. My LOS does not have the FHA TOTAL Mortgage Scorecard data fields, can I still submit FHA loans through Loan Prospector? 
  10. My office uses several different LOSs and not all the systems have the updated LOS software with the new FHA TOTAL Mortgage Scorecard fields, what should I do? 

  1. What type of set-up is required to access the Federal Housing Administration (FHA) TOTAL Mortgage Scorecard?

    You'll need to complete the following steps to access for the FHA TOTAL Mortgage Scorecard.

  2. Will I get a Document Checklist with the FHA TOTAL Mortgage Scorecard Feedback Certificate?
    Yes. LoanProspector.com customers will still receive a Document Checklist with the Feedback Certificate. There will be minor differences in feedback, but for the most part the feedback certificate will be very similar.
  3. What is the FHA Lender ID and how is it used?
    FHA assigns Lender and TPO companies with an FHA Lender ID when they are approved to originate FHA loans. The FHA Lender ID is required data that must be entered in Loan Prospector or via loan origination system (LOS) import for all FHA loans.
  4. What is the FHA Sponsor ID and how is it used?
    If a TPO is not a certified direct endorsement lender then they must enter the sponsoring wholesaler's FHA Lender ID in the FHA Sponsor ID field. TPOs are required to enter both their FHA Lender ID and their sponsor's FHA Lender ID.
  5. What is the FHA Case Number?
    FHA assigns a unique case number to every FHA loan. The Case Number must be entered in Loan Prospector or via LOS import for FHA loans so it will be printed on the Feedback Certificate, otherwise it won't be eligible for FHA documentation relief and credit policy revisions. Remember to enter the FHA Case Number prior to your final submission.
  6. How do I get a FHA case number?
    Case numbers are requested through the FHA Connection. a. Access FHA Connection b. Go to Single Family Origination c. Go to Case Processing d. Go to Case Number Assignment
  7. Will I receive an error message, if I forget or incorrectly enter the FHA Lender ID/Sponsor ID or Case Number?
    No. Loan Prospector will not return an error message if a loan is submitted without the required FHA Case number or if you forget to enter an FHA Sponsor ID. Loan Prospector will only return an error message if the FHA Lender ID field is left blank or if it doesn't meet the required 10-digit format.
  8. Resubmissions

  9. I access LoanProspector.com via a loan origination system (LOS) or a point of sale (POS) interface – Is there a different process for resubmitting FHA loans using these interfaces?
    No. The merged credit data can't be accessed into LoanProspector.com from your LOS, therefore, you'll need to order the required merged credit through Loan Prospector after you import the loan. If you modify a loan in your LOS and re-import it for a resubmission, you'll need to do the following in order to access your original merged credit report.
    1. Select Request Services on LoanProspector.com
    2. Select Merged Credit so the credit report option fields appear
    3. If the name of your CRC does not appear in the Credit Reporting Company field select your CRC from the pull down list
    4. Enter or confirm the correct report type is selected in the Single or Joint report type field
  10. LOS Software

  11. My LOS does not have the FHA TOTAL Mortgage Scorecard data fields, can I still submit FHA loans through Loan Prospector?
    No. All FHA loans must be submitted through your LOS to the FHA TOTAL Mortgage Scorecard, which will not accept loans without the required data that is entered in the fields.
  12. My office uses several different LOSs and not all the systems have the updated LOS software with the new FHA TOTAL Mortgage Scorecard fields, what should I do?
    You can submit new FHA Loans through the LOSs that have the updated software. If you want to submit new FHA loans through the other LOSs you'll need to contact your vendor about updating the software on those systems.

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