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Home » Calyx Point » Custom Forms » FHA


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sredding
Posted 7/8/2008 12:24:50 PM
Junior Member

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Group: Forum Members
Last Login: 7/22/2008 12:36:54 PM
Posts: 15, Visits: 28
We are doing a lot more FHA loans now. We are bankers and the good faith does not disclose/show the Base Loan Amount but yet the origination fee is based on the base loan amount and the borrower doesn't always understand.

Before 6.1 I think there was a section on the bottom of GFE that showed the base loan amount without Mip.....

Anyone out there that does FHA????     

Post #6927
mwm50
Posted 7/25/2008 10:56:50 AM


Supreme Being

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Group: Forum Members
Last Login: 9/12/2008 11:24:50 AM
Posts: 289, Visits: 242
The base loan amount isn't relevant to the client if UFMIP is being included in the loan amount. The real loan amount is base + UFMIP. If you're not including UFMIP in the loan amount (i.e., seller is paying or borrower is paying), you could remove it and place it on a different line of the GFE.

- Mike
mike@mtig.biz
Post #7017
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