What is FHA case binder?
FHA Catalyst: Case Binder Module is a web-based secure medium that supports digital delivery of origination documents by the Mortgagees to the Federal Housing Administration (FHA). Mortgagees can submit Notice of Return (NOR) Resubmission documents electronically by uploading into FHA Catalyst – Case Binder module.
What is the FHA Catalyst?
The FHA Catalyst: Electronic Appraisal Delivery module will allow for the administration to expand their data collection and analysis capabilities. Meanwhile, lenders can electronically submit, track and manage single-family property appraisals, the FHA said.
How do I assign an FHA case number?
1. On the Case Number Assignment menu (Figure 1), click Update an Existing Case, and the Case Number Assignment – Update Existing Case page (Figure 8a) appears. 2. Enter the case number assigned to the mortgage loan in the FHA Case Number field.
How do I get access to FHA catalyst?
To request access, email the completed FHA Catalyst: External User Access Request Form to the FHA Resource Center at [email protected]. The form is also available on the FHA Catalyst: SFDMS Reporting Module web page.
How does FHA help HUD fulfill its mission?
FHA’s multifamily programs provide mortgage insurance to HUD approved lenders to facilitate the construction, substantial rehabilitation, purchase and refinancing of multifamily housing projects and healthcare facilities.
Are FHA case number tied to property?
FHA Case Number When is it assigned and can it be transferred? The Case Number is assigned to the borrower and the property. The FHA case number can be transferred from one borrower to another but cannot be transferred from the property.
When can you pull an FHA case number?
A case number should be obtained only when the lender has an active loan application for the subject borrower and property in accordance with HUD 4155.2 1.
Which loan product is not allowed to be assumed?
Conventional loans are not typically assumable because they almost always contain a “due on sale” clause in their loan documents, requiring that the mortgage be paid off if the property is transferred.
When can an FHA case number be ordered?
HUD 4000.1, the FHA Loan Handbook, says an FHA case number is ordered by the lender when there is an active mortgage loan application for the property a borrower wants to purchase.
How long does FHA case number last?
6 months
The FHA Case Number is good for 6 months and then will be canceled if the loan has not been completed and closed. The Federal Housing Administration (FHA) can choose to change the upfront mortgage insurance and/or the monthly mortgage insurance but releasing a mortgagee letter.
Can an FHA case number be Cancelled?
The lender may request cancellation of a case number by submitting a request to HUD. A case number will be canceled only if: an appraisal has not been completed and the borrower will not close the mortgage as an FHA-insured mortgage; FHA mortgage insurance will not be sought; or.
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