What does ADP code mean?

Automated Data Processing
Automated Data Processing (ADP) codes are used in processing HUD-insured home mortgages. The codes correspond to the section of the National Housing Act (referred to as Section of the Act (SOA)) under which home loans are insured by the FHA.

What is the ADP code for a 203k loan?

The ADP code for Direct Endorsement Lenders on a 203(h) mortgage should be identified as a 703 ADP code.

What is FHA 234c?

The program is known as Section 234 (c) and insures a loan for up to 30 years on a condominium unit. There are a few eligibility requirements: A condo complex must have at least four units. They can be walk-ups or elevator buildings. This type of insurance in obtained through FHA-approved lending institutions.

What are FHA requirements on house condition?

What Are the FHA’s Minimum Property Standards?

• Safety: the home should protect the health and safety of the occupants.
• Security: the home should protect the security of the property.
• Soundness: the property should not have physical deficiencies or conditions affecting its structural integrity. 1

How do I find my ADP code?

Use the Email Status search options on the page to find the user. Select the user and select View Codes on Screen option to display the personal registration code on the page.

What is the FHA program identifier?

FHA’s unique 10-digit identifier for the FHA-approved lender acting as a sponsor or agent for the mortgage originator. The lender’s name, city, state, zip code and NMLS ID appear below the Sponsor/Agent ID.

Can I access ADP after termination?

If you terminate your employment, you will still have access to ADP Self Service for three years from your separation date.

Is the ADP code the same as the Act?

If it is an ARM the section of the ACT is the same but the ADP code is 729. Make sure you always use the correct section of the act and ADP code. Please find an attached table breaking these down. FHA Section of the Acts and ADP codes.

What is ADP code if pursuant to Section 223 ( E )?

The column entitled “ADP Code If Pursuant to 223(e)” refers to the code for mortgages insured pursuant to Section 223(e), which are all obligations of the Special Risk Insurance (SRI) Fund. The column entitled “ADP Code for HUD” refers to the code for FHA- processed cases.

What is the ADP code for a reverse mortgage?

Note: Status of ADP codes for this housing program is Deleted. Home Equity Mortgage Condominium (255) – Standard: FHA mortgage insurance on a reverse mortgage for a condominium unit (HECM). Note: Status of ADP codes for this housing program is Deleted.

Which is ADP code does FHA use?

The table below lists the Automated Data Processing (ADP) codes commonly used in processing FHA-insured home mortgages, presented according to the Section of the National Housing Act under which the loans are insured.