Point User Guide 191
FHA loans
f Select Federal Housing Administration (FHA) > FHA Combined MCAW–
Purchase.
The information is automatically populated from both the
Borrower and
Prospect Information
screens and the MCAW screens.
FHA Refinance MCAW screen
Most of the information needed on the MCAW can be pulled from other screens.
To complete the FHA Refinance MCAW:
1 Select Forms > Federal Housing Administration (FHA) > FHA MCAW–Refinance
(HUD-92900-WS).
2 Select a Refinance Type from the dropdown list.
Each of the options listed has a different calculation effect on the MCAW to generate
and copy the Maximum Loan Amount correctly:
• Streamline with Appraisal
• Streamline without Appraisal
• Regular Refinance
• Cash-Out Refinance
3 If the loan is an EEM, enter the amount of qualifying improvements in the
Energy
EfficientImprovements
field.
This amount is used to calculate the Maximum Loan Amount and the EEM Qualifying
Ratios in the Remarks field at the bottom of the MCAW.
4 In the
Settlement Requirements/Mortgage Calculation section, enter the payoff of the
existing mortgage in the
ExistingMortgageLien field, 10a.
5 In the
RepairsandImprovements field, 10b, enter any repairs and improvements that
cannot be financed.
6 In the
MIPRefund field, 10d, enter any MIP Refund due to the borrower.
Related information
Refer to Chapter 5, Loan Application, for information about filling out
the
Loan Application.
Prerequisites
Complete the Borrower Information screen, Loan Application, and
Good Faith Estimate before you complete the MCAW screens.
To Next Page