What is HFA preferred underwriting?

[drewbowski]

And are the lending restrictions any different than traditional underwriting? I have been getting shot down left and right when I went to lock my rates for my house that is due to close in about a month. Every lender I talk to is perplexed as to why exactly it's not taking, and everyone is guessing something different. I have 5% down and a 685 middle score. Percentages are good, but I do have some newer credit, but it's all in good standing and balances on revolving accounts are low. HELP.

[Anonymous]

Do you mean FHA? Do the lenders give you a reason for the declines? They are required to.

[drewbowski]

I'm pretty sure it's HFA. Take a look at the Automated Underwriting System section in the link below. It's a program through my states Housing and Finance Authority.

https://www.chfainfo.com/participating-lenders/single-family/forms/CHFA_AdvantagePurchase_matrix.pdf

[Anonymous]

Ah I see. I also see that no manual Underwritting is allowed so perhaps it is something in your file that is requiring a "refer". More help here is available I am sure.