Conditional
Commitment Page
|
| Field |
Description |
| Commitment
Terms |
| Conditional
Commitment for Mortgage Insurance under the National Housing Act, Sec. . . . | Indicator
specifying that HUD agreed to a conditional commitment for mortgage insurance
under the designated section of the National Housing Act. |
| See
below | Indicator specifying that HUD did not agree
to a conditional commitment for mortgage insurance. |
|
By | Four-character Computerized Homes
Underwriting Management System (CHUMS) ID and name of the HUD valuation reviewer. |
| Lender ID | FHA's unique 10-digit identifier for the FHA-approved lender that originated the mortgage. |
| Action Date | Date
the appraisal was reviewed by the HUD valuation reviewer. |
|
Sponsor/Agent | FHA's unique 10-digit identifier for the FHA-approved lender acting as a sponsor
or agent for the mortgage originator. |
| FHA Case No | Unique 10-digit identifier assigned to the mortgage by the Federal Housing
Administration (FHA). |
| INST Case Ref No | Identifier assigned to the case by the lender, such as a loan number. |
| Mortgagee | Name
and address of the lender originating the mortage loan. |
| Est
Value of Prop | Appraiser's estimated value of the
property. |
| Property Address | House number, street name, city, state, and zip code of the property (including
unit number, if applicable). |
| Existing | Building
status, including:
| • | Substantial
Rehabilitation: Property is being repaired and insured under Section 203k. |
| • | Under
Construction: Construction has begun but site, plans, and materials for
the property were not previously approved by the FHA. | | • |
Existing Construction: Construction is 100%
complete and the building is habitable. | |
| Proposed
| Site, plans, and materials for
the property were approved by the FHA, Department of Veterans Affairs, or eligible
lender underwriter before construction began, or the site is covered by an "early
start" letter. |
| Monthly Expense Estimate:
Fire Insurance | Estimated monthly cost of fire insurance
for the property. |
| Monthly
Expense Estimate: Taxes | Estimated
monthly property tax assessment. |
| Monthly
Expense Estimate: Condo Com Exp | Estimated
monthly condominium common expense or homeowner association fee. |
| Monthly Expense Estimate: Total | Sum
of Fire Insurance, Taxes,
and Condo Com Exp amounts per month. |
| Commitment Issued | Date
HUD issued the Conditional Commitment. |
| Commitment
Expires | Date the Conditional Commitment
expires. |
| Improved Living Area | Total
square feet of gross living area; finished area above grade. |
| Specific
Commitment Conditions |
| Estimated
Remaining Economic Life of this property is . . . years. [Name] | Number
of years remaining of economic life for the property. Name of the licensed appraiser,
if applicable. |
| This property
is, is not eligible for maximum financing (high loan-to-value ratio mortgage) | Not
applicable. |
| Manufactured
Housing | Indicator specifying
whether the dwelling is a manufactured home; type of manufactured home: modular
or mobile. |
| [Subdivision
Requirements] | Information from the
Subdivision Report including the requirement's number (Requirements
No.), the report date (Date Reported),
and the name of the subdivision (Subdivision).
Note: This field only appears for older cases with an obsolete conditional commitment
code of 001 (Subdivision Requirements). |
| Assurance
of Completion . . . | Indicator
specifying the amount needed to assure the completion of repairs. |
| See
indicated additonal items on attached | Indicator
specifying the rejection reason codes (if HUD did not agree to a conditional commitment)
or any conditional commitment codes (if HUD agreed to a conditional commitment).
Note: Contact the HUD Homeownership Center (HOC) for an explanation of the codes. |
| See
the following additional conditions on the applicable information sheet | Indicator
specifying any additional commitment condition codes. Note: The information sheet
provides an explanation of the codes under Specific Commitment Conditions. |