Updating secondary financing information before endorsement:
If a secondary financing source must be updated, display the Secondary Financing Update page for the case (see Accessing the Information), tab to the specific information that must be corrected, enter the new information, and process by clicking Send. If successfully processed, the Secondary Financing Results page is displayed. Confirm the updated information on the displayed page. Make any additional updates as needed.
If a secondary financing source must be deleted from the case, display the Secondary Financing Update page for the case (see Accessing the Information), tab to each field and erase (delete) the entered information, or select the drop-down box and select the first available option in the list (example: Select Source of Funds), and process by clicking Send. If successfully processed, the Secondary Financing Results page is displayed. Confirm the deleted information is not displayed on the page.
Updating secondary financing information after endorsement:
Once a case is successfully endorsed for FHA mortgage insurance, you can continue to view the secondary financing information using Secondary Financing or Insurance Application (seeAccessing the Information).
If you need to make a change to the secondary financing information after the case is endorsed for FHA mortgage insurance, the Mortgage Insurance Certificate (MIC) must first be cancelled by an authorized HUD representative. Then, the information can be updated using Secondary Financing (described above) and the case must then be endorsed again (a new MIC must be issued).