Sunday, August 10, 2008

FHA 4155.1

All FHA mortgage documents may be up to 120 days old at the time the FHA loan in Florida closes (180 days for new construction) unless this or other applicable HUD manual for FHA instructions specify a different timeframe, or the nature of the document is such that its validity for underwriting purposes is not affected by being older than the number of prescribed days (e.g., divorce decrees, tax returns). Please refer to the FHA handbook for more detailed FHA guidleines from the 4155.1

Updated, written verifications must be obtained when the age of the documents exceed these limits. Verification forms or documents used as an alternate to these verifications must pass directly between the FHA lender and the provider without being handled or transmitted by any third party or using any third party’s equipment. No document used in the processing or underwriting of a loan may be handled or transmitted by or through an interested third party to the transaction. This is important for the FHA mortgage lender to understand the 4155.1

You may review the FHA manual as a pdf with the 4155.1

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