ANNOUNCEMENT 08-10 (Revised 8/25/08)

FHA CASE ASSIGNMENTS REQUIRED AT LOAN SUBMISSION

Mortgagee Letter 2008-16 requires all loans assigned on or after July 14th to be run through DU or LP (Total Scorecard).  Total Scorecard requires the FHA Case Number in order to select the proper version of the underwriting engine, as well as to determine the proper MI premiums.  As a result, effective Monday July 21st, all loans submitted to Security Atlantic must include an FHA Case Assignment.  Loans submitted without the Case Assignment will be held outside of underwriting until it is received.

We will run the file through Total Scorecard on your behalf.  If you wish us to re-issue and use your credit, please provide us the following information on the submission cover sheet:  the name of the credit company, your account number/user id, and your password.  If this information is not provided, we will re-run our own credit through Total Scorecard and the new credit scores will determine your file's eligibility and applicable score add-ons.

Thanks,

Noel M. Chapman, EVP