Refinance Authorization Results Page - Field Descriptions
The field
descriptions for the Refinance Authorization
Results page are listed below in the
order they appear on the page. The Refinance
Authorization section provides Borrower
Name, Address,
Lender ID,
and Lender Name
fields for both the new and prior (old) cases. Except for the Authorization
No. and Expiration
Date fields, the remaining fields in
this section provide calculations for the projected closing month of
the new loan and the month following.
Field
Description
FHA
Case Number
Unique
10-digit identifier assigned to the new mortgage by the Federal
Housing Administration (FHA).
Contact
Name
Name of the lender's
contact person.
Contact
Phone
Telephone number of the lender's
contact person.
Projected Closing Date
Estimated closing date for the new mortgage (for a refinance case with a prior
FHA-insured mortgage). Note: Refinance credit (refi netting amount) is calculated based on this date.
Pricing
LTV
The loan-to-value
ratio of the prior FHA-insured mortgage used to determine the upfront and annual mortgage
insurance premium (MIP) factors for the new mortgage based on loan characteristics.
Note: This field is only displayed for a streamline refinance case.
Term
Period of time in months from
the beginning of loan amortization until maturity. Period of time in months from the beginning of loan amortization
until maturity for the new mortgage (e.g., 180 or 360).
Upfront
MIP Factor
Factor used
for determining the amount of upfront mortgage insurance premium (MIP) for the new mortgage.
Note: This field is only displayed for a streamline refinance case.
Annual
MIP Factor
Factor
used for determining the amount of annual mortgage insurance premium
(MIP) for the new mortgage. Note: This field is only displayed for a streamline refinance
case.
Refinance Authorization
New
Case
Unique 10-digit
identifier assigned by the FHA to the new mortgage for which FHA
insurance is being requested.
Old
Case
Unique 10-digit
identifier assigned by the FHA to the prior FHA-insured mortgage.
Borrower Name
Last name, first name, and middle initial of the borrower.
Address
House number, street name, city, state, and zip code of the property (including
unit number, if applicable).
Lender ID
Identifications
of the originating lender of the new case and servicing lender of the
prior case.
First Column:
FHA's unique 10-digit identifier for the lender originating the new
mortgage loan.
Second Column: First
five digits of the FHA's unique 10-digit identifier for the servicing
lender of the prior mortgage loan.
Lender Name
Names
of the originating lenders of the new and prior loans.
First
Column: Name of the originating lender of the new mortgage loan.
Second
Column: Name of the servicing lender of the prior mortgage loan.
Computed
Premium
Upfront mortgage insurance premium for the prior FHA-insured mortgage.
Original Property
Value
Appraised value or sales price of the property under the prior FHA-insured mortgage,
whichever was used in the original loan-to-value calculation.
Original Mortgage
Amt
Dollar amount that identifies
the principal obligation for the prior FHA-insured mortgage as stated on the borrower's
security instrument (such as a mortgage note, or deed of trust) at the time
of endorsement.
Original Closing Date
Date of the closing of the prior FHA-insured mortgage.
Old
Term (in months)
Number of months required to
amortize (repay) the prior FHA-insured mortgage.
Original Endorsement Date
Date the prior mortgage was endorsed for FHA insurance.
Original Annual MIP Factor (%)
Factor
used to determine the amount of annual mortgage insurance premium (MIP) for the prior FHA-insured mortgage.
New Closing Month
Projected closing month for the new mortgage and month following.
First Column: Thirty-day calculation
column. Month and year of the closing of the new FHA-insured
mortgage, based on the date in Projected
Closing Date field.
Second Column: Sixty-day calculation
column. Month and year following the Projected
Closing Date.
Period of Insurance
Number of months the prior mortgage was FHA insured, based on the Projected
Closing Date.
Refund
UFMIP Factor (%)
Factor used to calculate the upfront mortgage insurance premium (UFMIP) refinance
credit amount, based on the Projected Closing Date.
UFMIP Earned by HUD
Dollar amount of upfront mortgage insurance premium (UFMIP) earned by HUD for
the prior FHA-insured mortgage, based on the Projected Closing
Date.
Unearned
UFMIP
Dollar amount of upfront mortgage insurance premium (UFMIP) that was not earned
by HUD for the prior FHA-insured mortgage. Refinance credit amount, based on the Projected
Closing Date.
Unpaid Balance
Unpaid principal balance of the prior FHA-insured case.
Authorization
No.
Unique number indicating approval to refinance the prior FHA-insured mortgage; consists of a five-character authorization number and eight-character
date (yyyymmdd).
Expiration Date
Date the refinance authorization expires.
Prior Case Partial Claim Exists?
For an FHA-to-FHA refinance, this specifies whether a partial claim exists for the prior FHA-insured mortgage (case) per the Single Family Insurance System-Claims Subsystem (CLAIMS/A43C) (i.e., Claim Type 33, and Status Code 1 or 2).
Prior Case Partial Claim Amount
For an FHA-to-FHA refinance, this is the partial claim amount for the prior FHA-insured mortgage (case) retrieved from the Single Family Insurance System-Claims Subsystem (CLAIMS/A43C). If a partial claim does not exist, N/A is displayed.