FHA Mortgage Insurance
Mortgage machine has a function to automatically populate upfront and monthly FHA MI in your file. To use it, you must first select “FHA” as your mortgage type on the pricing screen. This will make a small calculator button appear next to the MIP/FF/MI line:
Click the calculator button and the FHA MI Calculator pop up window will magically appear. From the section of the Act dropdown, choose 203(b) and hit Update Loan.
Entering Lender ID
FHA DU/LP requires that a Lender ID be entered. If you haven’t done this step you will see this error when you try to run DU
To fix this, go to HUD/VA Addendum in the Lead dropdown (or Origination dropdown if you are in Loan status).
Just below item 17, click on the click here button.
Hit the Origination Company button in the Lender section. You don’t need to complete either of the other two sections in the pop up. Then hit submit.
Common Error
A common error that appears on every government loan: “Government loans require completion of the 92900a “Has Financial Interest” flag” can be fixed by the following steps.
Go to the Origination dorpdown and select the HUD/VA Addendum
Scroll down to the very bottom of the page and click the button for “do not have any financial interest”.
