Although all of the following products and programs are eligible for risk assessment using the FHA TOTAL Mortgage Scorecard (TOTAL), it is possible that not all are supported by the Automated Underwriting System (AUS). Mortgage lenders will need to check their AUS vendor’s User Guide for details and data input requirements.
To obtain a credit risk assessment from the FHA TOTAL Mortgage Scorecard, the loan must meet the following FHA eligibility criteria:
• Purchase Money Mortgage
• Construction-to-Permanent Mortgage
• Rate/Term Refinance
• Cash-Out Refinance
FHA Insurance Product
• 203(b)---Standard FHA product for detached dwellings
• 203(h)---Mortgages for Disaster Victims
• 203(b)/234(c)---Unit Mortgages in Condominium Projects
• 203(k)---Rehabilitation Mortgage Insurance
• 251---Adjustable Rate Mortgages (ARMs) on single family detached and Condominium Units
• Energy Efficient Mortgages (EEM)
• Section 247---Hawaiian Home Land mortgages
• Single family dwellings of 1 - 4 units (3- and 4-units have additional underwriting requirements, which may or may not be supported by the AUS)
• Manufactured homes meeting Title II property requirements
• Units in Low- and High-Rise Condominium Projects (Project must be approved)
• Fixed Rate Mortgages
• Adjustable Rate Mortgages, including 1-Year and Hybrid ARMs
Streamline Refinance transactions, assumptions, and Mortgages made to nonprofit/Governmental Entity Borrowers must not be scored through TOTAL Mortgage Scorecard.
Unless otherwise specifically announced, the applicable policies for FHA’s TOTAL Scorecard are contained within Handbook 4000.1 II.A.4. Underwriting the Borrower Using the TOTAL Mortgage Scorecard.
For loans that require manual underwriting, refer to Section II.A.5, Manual Underwriting of the Borrower.
Handbook 4000.1 is available at: https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh
For additional information, please visit HUD’s TOTAL Scorecard web page available at: https://www.hud.gov/program_offices/housing/sfh/total