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Loan Prospector Processing Error Messages

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Posted 12/10/2014 4:25:50 AM by Administrator 1/19/2015 2:37:37 AM 0502 The current residence indicator does not transfer to Loan... Check with your LOS vendor to see if you have the latest version of their software. The loan originator, and sponsor if applicable, must each certify their FHA Lender ID. If you enter your TPO#, you will be given a higher priority in our queue. navigate here

McKay, Regional Inspector General for More information FHA Office of Single Family Housing. What does "New CRC customer" mean? How do I get setup and prepare to use the merged credit report options? Title Description no error Cancel Overwrite Save Don't wait! http://www.loanprospector.com/news/mergedcredit-qanda.html

Loan Prospector Guidelines

The FHA data page displays: Click Next. How do I add a borrower to a loan and resubmit with the Reference Number? FHA Lender ID and FHA Sponsor ID How to Complete Brokers need an FHA Lender ID and corresponding FHA Sponsor ID to process FHA loan applications.

Loan Prospector presents all the results in the FHA TOTAL Full Feedback Certificate. What s s New With FHA? Back to Work - Extenuating Circumstances U.S. Loan Type Ineligible - Maf Not Available For Fha Or Va Risk Class Accept Refer If FHA TOTAL returns a risk class of Accept, the borrower s credit reputation and capacity are acceptable to FHA, and FHA agrees to endorse the mortgage,

How to Document Credit Information The table below provides some of the typical recurring issues and required actions associated with documenting credit information for FHA loan applications assessed by FHA TOTAL. Loan Prospector User Guide How do I add a borrower to a loan and resubmit with the Reference Number? If a CAIVRS authorization indicates a Federal Delinquency/Lien, indicate, Yes. http://ww8.calyxsoftware.com/kb/KnowledgebaseCategory25.aspx For underwriting questions, please contact your wholesale lender.

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Loan Prospector User Guide

The five Reference Numbers can include a combination of joint and individual reports. Changes to certain data fields may invalidate the use of the previous Reference Number. Loan Prospector Guidelines County name of property being financed. Loan Prospector Help Loan Prospector's Merged Credit Report Options allow you to: Order merged credit reports from a participating credit reporting company (CRC) or technical affiliate through Loan Prospector before, or simultaneously when submitting

Therefore, you should directly contact the CRC contact(s) listed to get setup. check over here Borrower Credit Analysis Overview In This Section This section contains the topics listed in the table below. You may encounter two types of messages: • Processing Error Messages – Messages received online when a Loan Prospector submission cannot be processed. • Feedback Messages – Messages received on the If new construction, also select the following: In the Building Status field, - Proposed or Under Construction for Newly Built and Construction Conversion, or - Substantially Rehabilitated or Alteration, Improvement, Repair Loan Prospector Merged Credit Error

What does "Existing CRC customer" mean? No. You More information ATTACHMENT A. 1. http://globalinfoindex.com/loan-prospector/loan-prospector-error-3u.php Who are the credit service providers?

Do I need to re-enter the Reference Number every time I resubmit the loan? Loan Prospector Non-occupant Co-borrower The loan application receives a Refer risk class. The FHA Case Number must be entered on or before the last submission or FHA will not endorse the loan.

FHA: Property More information Endorsing a Single Family FHA Case Endorsing a Single Family FHA Case The Direct Endorsement (DE) process allows FHA-approved lenders to submit a mortgage insurance application for

Latest version of loan origination system (LOS) software if importing FHA TOTAL requires the use of a merged credit report. DE Lender Application and Approval/Lender Insurance Program (LI) Eligibility & Approval Table of Contents Chapter 2, Table of Contents Chapter 2. Users are expected More information SUBMITTING AN ACCURATE GOOD FAITH ESTIMATE - INTRODUCTION... 1 ALL LOANS... 1 NAME OF ORIGINATOR... 1 BORROWER... 1 IMPORTANT DATES... Lp Findings Regardless of the risk class, you will need to resubmit the loan application.

Refer to the LoanProspector.com online help or Merged Credit Report Options quick reference at for information on using this service. All merged credit report option fees ordered in Loan Prospector will be billed to you directly from your selected CRC. More information MAGNOLIA BANK FHA STANDARD REFINANCE OPTIONS MATRIX RATE REDUCTION REFINANCES EQUITY (CASH OUT) REFINANCES 5. http://globalinfoindex.com/loan-prospector/loan-prospector-error-64.php This number should also correspond to the wholesaler selected on the Assign Loan page.

For more information on using Loan Prospector's merged credit options, refer to the resources available on our Freddie Mac Learning Center. Direct Endorsement (DE) Program Lender Application More information FHA LOAN PROGRAM Conforming and High Balance Loan Amounts FHA PRODUCT MATRIX Purchase Rate and Term Cash Out Units LTV/CLTV Fico* Units LTV/CLTV The CRC technical affiliates provide credit reports and services through one of the five direct CRCs that offer merged credit reports through Loan Prospector. It is not intended as a replacement for FHA guidelines.

Eric L. If you are an existing CRC customer, in order to use Loan Prospector's Merged Credit Report Options, you must update your account with your TPO number to request merged credit reports For example, if you use three different Reference Numbers on the same transaction (based on the number of borrowers), and your CRC charges a $1 Reference Number fee, your total fee We look forward to exceeding your expectations while serving your wholesale needs.

Examples of each message type are provided further below with the reasons or clarifications on why the message was received, and recommended actions to resolve issues. It offers clarification to assist you in determining and resolving any issues in order to obtain a complete assessment. Users are expected More information Numbers. You'll only see the Merged Credit Certificate if you have requested merged credit only and your Merged Credit status = Complete.

The lender retains all authority to make the lending decision. If you need or prefer to view/print the original merged credit report, resubmit as order merged credit with Reference Number and automated underwriting service. TPOs should check with their wholesale lender for more information. MORTGAGE TERMS Acceleration Clause This is a clause used in a mortgage that can be enforced to make the entire amount of the loan and any interest due immediately.

FHA-assigned number for the sponsoring wholesaler underwriting the mortgage. Please try the request again. You may initiate the call directly to the contact(s) listed for one or more of the credit reporting companies or technical affiliate to get setup. The Accept credit warranty message states: LOAN PROCESSING INFORMATION APPLICABLE CREDIT WARRANTIES AND WAIVERS F0 Credit Warranty: Not required to determine borrower shows the willingness to pay.

If merged credit is ordered without an AUS assessment, what will I get? You will not find the full merged credit report on this certificate. FHA Minimum Down Payment FHA Upfront Mortgage Insurance Premium Factor - This is an estimate of your upfront mortgage insurance premium for the loan submitted. FHA-assigned number identifying the broker or lender originating the mortgage.