What is an FHA case binder?

The FHA Case. Binder is a subset of the lenders “loan file” and is sent to a HUD Home Ownership. Center (HOC) where Reviewers and Endorsement Clerks check the paperwork to determine if the mortgage meets the eligibility requirements for insurance and that all required documents and signatures are present.

What is hoc in FHA?

Home / Program Offices / Housing / Single Family / Homeownership Centers. FHA Homeownership Centers. Many of the mortgage insuring processes are centralized into four Homeownership Centers (HOC), each supporting a specific geographic area: Atlanta, Philadelphia, Denver and Santa Ana.

What is an FHA case transfer?

FHA Loan Transfer to Another Lender In these cases or others, a borrower may choose to have their FHA loan transferred to another lender. These days the FHA transfer process is pretty simple and does not cause undue stress on the borrower. The prior lender must transfer the loan and the FHA appraisal.

How long are FHA case assignments good for?

6 months
The FHA Case Number is good for 6 months and then will be canceled if the loan has not been completed and closed. The Federal Housing Administration (FHA) can choose to change the upfront mortgage insurance and/or the monthly mortgage insurance but releasing a mortgagee letter.

Where does the FHA case binder go to?

The FHA Case Binder is a subset of the lenders “loan file” and is sent to a HUD Home Ownership Center (HOC) where Reviewers and Endorsement Clerks check the paperwork to determine if the mortgage meets the eligibility requirements for insurance and that all required documents and signatures are present.

How can I upload my case binder to HUD?

•Electronic Case Binder Upload(available only to lenders approved for the Lender Insurance (LI) program with Approval eBinder (Upload)status) is used by LI lenders to submit electronic case binders (closing packages) in Portable Document Format (PDF) via the FHA Connection when requested by a HUD Homeownership Center (HOC).

Do you have to submit case binders to the hocs?

Request for Lender Insurance mortgagees to submit case binders Because Lender Insurance mortgagees insure their own loans, case binders are not submitted to the HOCs on a routine basis. If a case binderis required, it will be specifically requested from the Lender Insurance mortgagee.

What kind of case binder do I need for lender insurance?

Lender Insurance mortgagees may submit requested case binders in paper or electronic format. However, once a mortgagee is approved to submit electronic case binders, all case binders must be submitted to HUD in an electronic format. Technical standards for electronic case binders