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5.3.10 Condo Project Approval

Any Loan secured by a condominium in a condo project must be approved by PHH and/or FHA. Credit Files for condo loans submitted for PHH underwriting review must contain all applicable condo project documentation. PHH will review eligible condo...

Resources > FAQ > CHAPTER-5-UNDERWRITING-OPTIONS > 5-3-Sellers-Approved-as-Non-Delegated > 5-3-8-Condo-Project-Approval

Chapter 6 Credit Policy and Underwriting
All loans must adhere to Agency guidelines, PHH product parameters and underwriting guidelines.

Resources > FAQ > CHAPTER-6-CR-EDIT-POLICY-AND-UNDE-RWRI-TING > CHAPTER-6-CR-EDIT-POLICY-AND-UNDE-RWRI-TING

6.3 PHH Non-Agency Underwriting Standards
Refer to the PHH Non-Agency Underwriting Standards and associated Product Descriptions for Non-Agency guidelines and requirements.

Resources > FAQ > CHAPTER-6-CR-EDIT-POLICY-AND-UNDE-RWRI-TING > 6-3-PHH-Non-Agency-Underwriting-Standards

6.1 Documentation Requirements
The application package must contain acceptable documentation to support the underwriting decision. When standard documentation does not provide sufficient information to support the decision, additional explanatory statements and/or documentation...

Resources > FAQ > CHAPTER-6-CR-EDIT-POLICY-AND-UNDE-RWRI-TING > 6-1-1-Complete-Applications-Required > 6-1-Documentation-Requirements

6.1.1 Complete Applications Required
All applications (Fannie Mae Form 1003/Freddie Mac Form 65 or redesigned URLA) submitted to underwriting must be accurate and complete. All applications dated on or after 3/1/2021 must be completed on the redesigned URLA form.

Resources > FAQ > CHAPTER-6-CR-EDIT-POLICY-AND-UNDE-RWRI-TING > 6-1-1-Complete-Applications-Required > 6-1-1-Complete-Applications-Required