The Checklist

Posted on May 28th, 2010 by Bonnie Wilt-Hild
Bonnie Wilt-Hild
About The Author
Bonnie Wilt-Hild - As an NAMU® staff writer, Bonnie serves as a senior instructor for FHA Online University as well maintains a full-time underwriter job as Senior FHA DE Underwriter for a major banking institution. If you're interested in becoming a writer for NAMU®, please email us at:

Over the past few months I have had several individuals ask me if I had some sort of underwriting checklist that could be used while underwriting FHA mortgages. I promised to create something that new DE underwriters could use while underwriting so that nothing was forgotten and true to my word, here it is.

FHA Underwriting Checklist

Borrower:_____________________ Transaction Type:_______________
Co: Borrower:__________________ LTV/CLTV:___________________
Property Address:_______________ Total Scorecard Results:__________
City, State, Zip:_________________ DPA: ____yes_____no
Base Loan Amount:______________ Purchase Price:________________
UFMIP:_______________________ Minimum Req’d Investment:_____
Total Loan Amount:_____________ Seller Contribution:_____________

Maximum Allowable Mortgage: $_______________________

Required Underwriting Submission Documents

o Underwriting Checklist
o Lock Conformation
o 92900-LT or MCAW
o Maximum Mortgage Worksheet
o Final typed 1003, 2900a pgs 1-4
o Initial 1003, 92900a
o Total Scorecard Findings
o Credit Report & Supporting Documentation
o Payoff Statement (Refinance Transactions)
o Evidence
o Income Documentation
o W-2’s two most recent years, 1 month of paystubs documenting YTD earnings, Verbal VOE
o Verification of Assets, Earnest Money Deposit, Evidence of sufficient funds to close
o 60 days most recent bank statements or VOD and 30 days most recent bank statements
o Purchase agreement/Contract of Sale with all applicable Addenda including FHA Amendatory Clause and Real Estate Certification, Lead based paint disclosure and For Your Protection Get a Home Inspection
o FHA Appraisal report indicating the FHA case number on all pages
o Evidence that the Condo is approved, 51% Owner Occupancy Certification
o Conditional Commitment pages 1-6
o Appraisal Logging Information
o FHA Case Number Assignment, LDP, GSA and Clear CAIVRS
o Refinance Authorization for Streamline Transactions
o Good Faith Estimate
o Truth In Lending
o State Required Disclosures
o Servicing Transfer Disclosure
o ECOA, Fair Lending, Right To Receive an Appraisal
o FHA Assumption Policy
o Informed Consumer Choice Disclosure
o Important Notice to the Homebuyer
o FHA DE Disclosure
o For Your Protection Get A Home Inspection
o Additional Federally required Disclosures

Remember that all circumstances are not addressed on the checklist so make sure you determine what if any additional documentation is needed. Examples would be Divorce Decree, evidence that child support will continue for at least 3 years and so on. For those of you looking for maximum mortgage worksheets you can find them on FHA Connection. Enjoy Underwriting!

SOURCE: Published by NAMU® Publishing Group, a division of the National Association of Mortgage Underwriters (NAMU) (


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