FHA Mortgage Lenders Approval After A Loan Modifications
FHA Mortgage Lenders Automated Underwriting System required to follow guidance for acceptable mortgage history.
Manual Underwrite -follow manual mortgage requirements (Ox30 for most recent 12 months and 2×30 for the most recent 24 months on the modified mortgage.)
Payment history is evaluated based upon the FHA mortgage lenders modification agreement terms and date. Delinquent payment history is forgiven prior to the modification agreement. If the modification agreement is dated less than 12 months, all payments must be made current for the month due since the date of the modification.