Intermediate FHA Underwriting

Are you ready for the next step in FHA underwriting? This course is designed to enhance your fundamental underwriting knowledge and abilities. This course is designed for those who have the fundamental skills of FHA underwriting and who are able to:
Explain the most common FHA Programs and requirements
Recognize FHA specific forms and documentation
Calculate loan amounts, qualifying ratios and mortgage insurance premiums
Recognize underwriting forms
Describe FHA technology as it applies to underwriting
Explain borrower benefits when financing with a FHA loan
Identify basic income, assets and related underwriting policies
Identify basic credit history, liabilities and related underwriting policies
Explain situations that impact maximum mortgage
Identify differences between conventional and FHA appraisal requirements

What it's about
These skills may have been acquired through attending AllRegs Fundamentals of FHA Underwriting or through on the job training.

During this course will enhance their fundamental underwriting knowledge and abilities by taking a deeper dive into FHA TOTAL Scorecard requirements, and those scenarios in which a manual downgrade is required. This course will consist of scenarios that address challenges that are present in today’s market.

It will also include the “Red Flags” as identified by FHA, which require a much deeper review of the documentation.

By the end of this course students will be able to take appropriate action based on TOTAL Scorecard requirements and recommendations including those referring to manual downgrades, increase their potential, which will allow students to underwrite more complex loan files, including the evaluation of appraisals.

What will I learn?

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

  • Describe TOTAL Scorecard and its requirements
  • Recognize when a manual downgrade is required
  • Analyze various credit scenarios and determine acceptability for TOTAL Scorecard or Manual UW
  • Analyze Income for stability and effectiveness for inclusion in qualifying income.
  • Complete an In – Depth analysis of Assets
  • Evaluate appraisals to ensure compliance with FHA Flipping requirements
  • Evaluate Condo Documentation for compliance with FHA Re-Certification of Project Requirements

Participants will be provided a student manual for each of the four sessions.

Participants will be required to complete an assessment at the end of each of the four sessions to assess mastery of the content.

To receive the Certificate of Completion participants must receive a course total of 70% or greater.

Classes consist of four 90-minute live sessions with instructors delivered through the Zoom conferencing platform.


Upon returning to the office, students will be able to:

  • Understand the importance of accurate data when completing automated or manual underwriting.
  • Extend knowledge as it relates to appraisals, specifically property flipping and condo recertification


During the course the following topics will be covered:
Session One - Topics

  • TOTAL Scorecard
  • Submission Requirements & Tolerances
  • AUS and Accountability
  • Lender Overlay

Session Two - Topics

  • Other Income
    • Self-Employed
    • Re-entering the Work Force
    • Second Job
    • Social Security
    • Form 4506-T

Session Three - Topics

  • Session Two Review
  • Appraisal Review and Hot Topics
  • Condo Appraisal Form 1073 Review

Session Four - Topics

  • Manual downgrade requirements
  • Analyzing credit reports
  • Documentation requirements for manual underwriting
  • Risk assessment based on ML 2012-03
Have questions? Get in touch.
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