HOUSTON, Oct. 17, 2007 (PRIME NEWSWIRE) -- Allied Home Mortgage Capital Corporation has provided another tool to help Allied Branches succeed in a changing market. FHA is the product that will qualify the most borrowers now with the demise of subprime loans. The problem for many originators is that they do not know how to structure an FHA loan if it is not approved by an automated underwriting system. For that reason the Allied FHA Hotline was created. Many loan originators are originating FHA products for the first time and are not familiar with FHA guidelines. By providing a DE underwriter available on the Hotline during business hours to answer questions on specific scenarios, the Allied originators will be able to learn how to properly structure a loan so that it will meet HUD requirements for an FHA loan.
Discussing the scenario with the DE underwriter before submitting the loan for approval will help the originator structure the loan in a manner that would be most likely to be approved. The loan originator will also receive assistance on completing the MCAW, a form similar to a transmittal summary. Take advantage of the FHA Hotline and let a real DE underwriter walk you through a plan for structuring your FHA loan and complete the MCAW. This line will be available to processors and loan originators to assist in originations. We recommend the utilization of this tool to help you and your staff more effectively originate and close all FHA products.
The Allied Home Mortgage logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=704