I got off the phone with my LO and i felt a little confused.
Right now the hud underwriter has us approved for 55k, we are only using 53k.
The LO said that once our appriasal and survey come back, if everything is good, the underwriter will re confirm everything and they send the file out to FHA in PA.
She said they re-review the file and request conditions if nessesary.
What do these FHA people look at? My mid score was 634, which the credit unions requirement was 640, but they did our loan any way. Will FHA look at that? I am so confused.
FHA doesn't look at files.
Likely this is a broker sending the file to a Delegated FHA Underwriter.
Most lenders have the Delegated Underwriter in house.
she cleared it up, its being sent to fha in pa for a review because they are insuring the loan. they have hud underwriters at my credit union