Steps for Using the Federal Housing Administration (FHA) TOTAL Mortgage Scorecard
Before you begin ensure your loan origination system (LOS) contains FHA TOTAL Mortgage Scorecard data fields. Contact your LOS vendor to find out if you're using the most current software, or for a list of vendors that are ready to provide updated software.
Next, you must complete the following before submitting FHA loans to the FHA TOTAL Mortgage Scorecard through Loan Prospector.
Know your FHA Lender Identification number
If you do not know your Lender ID, contact the FHA Office of Lender Approval and Certification at (202) 708-3976.
Certify your FHA Lender ID to become authorized for the FHA TOTAL Mortgage Scorecard
Have your designated Application Coordinator certify your FHA Lender ID using the following steps:
- Log-on to the FHA Connection using the personal ID and password provided by FHA
- Select ID Maintenance
- Select FHA Administration
- Select TOTAL Scorecard Acknowledgement
- Accept the Acknowledgement of Terms and Conditions for TOTAL Scorecard
Note: Third-party originators (TPOs) – In addition to knowing your own FHA Lender ID, you also need to know your sponsoring wholesale lender's FHA Lender ID.
You'll need to provide your sponsoring wholesale lender's FHA Lender ID in the FHA Sponsor ID field when submitting loans for FHA assessment. Contact your wholesaler lenders to find out their FHA Lender ID and confirm they have certified it through FHA Connection.
Establish agreements to obtain merged credit through Loan Prospector
Make sure you have agreements in place to order merged credit through Loan Prospector from at least two of the following credit reporting companies (CRC) or their affiliates:
- Corelogic CREDCO/Credstar
- Equifax Mortgage Solutions
- Kroll Factual Data Corp.
If you currently order merged credit outside of Loan Prospector contact your CRC to ensure your agreement allows you to also access it through Loan Prospector. If you don't already have CRC relationships in place, download service agreements for participating CRCs.
How the FHA TOTAL Mortgage Scorecard Works in Loan Prospector
Learn how to use the FHA TOTAL Mortgage Scorecard in Loan Prospector. Check out our resources to help you access FHA's TOTAL Mortgage Scorecard in Loan Prospector.