Advanced FHA Underwriting

Instructor-Led Online Course

Click here to see class schedule.

Are you an experienced underwriter looking for a refresher on the nuances of FHA loan programs? Or, are you just looking to dive deeper into FHA loans? The Federal Housing Administration continues to evaluate their guidelines and make changes to many of their policies, making underwriting these loans intimidating – even for seasoned underwriters. AllRegs Academy’s Advanced FHA Underwriting can help you expand your knowledge and get you up to speed quickly on FHA loans.

This instructor-led online course, presented in four 90-minute sessions, will examine issues surrounding risk-based pricing, credit history and appraisals, as well as any program changes that have taken place recently. Developed by leading industry experts, this course will provide you with the skills you need to start underwriting FHA loans.

Learning Goals and Objectives

Upon completion of the course, students will be able to:

• Discuss recent FHA updates and reforms
• Evaluate properties and appraisals to ensure compliance with FHA requirements
• Review the DE test case process and provide tips for success
• Analyze various credit history scenarios and determine acceptability
• Calculate ratios for various employment/income scenarios
• Perform in-depth evaluations of credit packages

Who Should Attend

• Underwriters and processors new to FHA underwriting
• Seasoned underwriters and processors needing a refresher on FHA underwriting
• Loan originators
• Operations managers

Course Topics

Session 1

• Four “C’s” of Underwriting & “New C’s”
• In-depth Analysis of Various Credit Reports
• Debt & Lender Overlays
• Derogatory Credit & Credit Usage

Session 2

• Elements of income
• The 4506T
• Income documentation
• Analyze tax returns and complete the 1084 Cash Flow Analysis Worksheet for a self-employed borrower

Session 3

• Appraisal Overview
  • SFD Appraisal Review
  • Condo Appraisal Review
• FHA Flipping Waiver Rules
• HRAP/DELRAP Review
• Declining Markets/MC Addendum

Session 4

• Cash to close
• Review of full loan application
• FHA Recent and Pending Changes

See the full Course Agenda (PDF).

Course Delivery

The training sessions utilize WebEx technology in conjunction with audio conferencing. Polling capabilities, live chat, and question & answer sessions allow participants to easily interact with subject matter experts. The course consists of four 90-minute sessions over a 4-week period. Pre-reading and exercises are included and accessed through the AllRegs Academy learning management system. Participants are required to complete assignments prior to each session.

Class Schedule

Choose from the upcoming four-week course sessions:

• Wednesdays, June 6, 13, 20 and 27, 2012, 2:00 p.m. – 3:30 p.m. ET
• Wednesdays, September 5, 12, 19 and 26, 2012, 2:00 p.m. – 3:30 p.m. ET
• Wednesdays, December 5, 12, 19 and 26, 2012, 2:00 p.m. – 3:30 p.m. ET

Certification Credit

Upon successful completion of this course, you will earn 6 hours of credit towards the Residential Government Underwriter (RGU) certification.

Tuition & Registration

The course is $365 per person. Tuition includes all course materials. Upon successfully completing the course, students will earn an industry-recognized certificate of completion.

Additional Resources

Printed Literature (PDF)

Cancellation/Refund Policy (PDF)

For more information, call our sales and customer service department at (800) 848-4904 or email sales@allregs.com.