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FHA Handbook

An FHA Handbook is a repository of all guidelines related to a particular mortgage aspect. As a matter of fact, it is not the Federal Housing Administration that publishes a handbook and keeps it updated all the time in regard to the mortgagee letters and other legislations. It is rather the responsibility of the US Department of Housing and Urban Development of which FHA is just a part. To be more precise, it is basically HUD handbook that outlines the various requirements and necessary details for FHA loans, and for the different stakeholders in the transactions – borrowers, property sellers, lenders, appraisers, home inspectors and others.

FHA Handbook 2011



Several policy changes in 2010 have made it mandatory to update the various handbooks that HUD publishes and makes available online through its website hud.gov. A special section known as HUDclips has already been there on the site providing resources and the complete list of different handbooks available to the users. One just needs to download relevant resource material in either PDF or WORD format. However, it is often a difficult task to peruse the entire content of a handbook to find information that one needs, say for underwriting, appraisal or inspection purposes.

To help the people in a more user-friendly manner, HUD has launched a new initiative known as fhaoutreach.gov, which is a website that makes it easy for a person to search information contained in a handbook instantly and in a more interactive manner. At present, the resources available at fhaoutreach.gov include the content of Handbooks 4155.1 and 4155.2. Moreover, these are the latest versions and most mortgagee letters have been incorporated in them. Old versions are still available on request.

HUDclips still serve the purpose of one-stop resource house for all HUD and FHA related documents. It is an electronic database that stores all official handbooks, mortgagee letters and notices. There are separate sections for housing, lenders, single family and more. The documents that are necessary for an FHA Title II lender are collected together under the heading FHA Title II Mortgagee Starter Kit. Some of the Handbooks that have been included in this mortgagee starter kit are being mentioned here.

2000.4 Consolidated Audit Guide for Audits of Programs
4000.2 Mortgagees’ Handbook, Application - Insurance
4000.4 Single Family Direct Endorsement Program
4060.1 Mortgagee Approval Handbook
4145.1 Architectural Processing and Inspections
4150.1 Valuation Analysis for Home Mortgage Insurance
4150.2 Valuation Analysis for One-to-Four-Unit Dwellings
4155.1 Mortgage Credit Analysis; One-to-Four-Family's
4165.1 Endorsement for Insurance for Home Mortgages
4235.1 Home Equity Conversion Mortgages
4240.2 The Graduated Payment Mortgage
4240.4 203K Rehabilitation Home Mortgage
4330.1 Administration of Insured Home Mortgage
4330.4 FHA Single Family Insurance Claims

A lot more documents and forms may be required by different professionals at different loan processing stages. For example, one might like to refer Handbook 4905.1 to know about general appraisal requirements for basements and crawl spaces. Such needs can successfully be met by using the resources provided through HUDclips.

Website: www.hud.gov




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