HUD HOC Reference Guide
Introduction

This Guide has been developed to provide guidance and assistance to all individuals and organizations involved in the FHA lending process. We anticipate that this guide will improve the consistency of FHA lending policy nationwide and will enhance our mutual business interest of increasing homeownership.

This Reference Guide is intended as a supplement to handbooks, mortgagee letters and other official policy issued by Headquarters in Washington D.C. This Guide should not be relied upon as a sole source of information, but should be used in conjunction with policy issued from Washington D. C.

Underwriters and appraisers are responsible for adherence to all policies contained in this Guide and should refer to it on a regular basis to verify the latest policies in effect. This Guide will be updated and published on the Internet on an ongoing basis in order to provide lenders and appraisers with changes in a timely manner.

FHA functions primarily through the Direct Endorsement loan program. This means that all final underwriting decisions at the lenders office are rendered by the Direct Endorsement Underwriter. Although this Guide may be utilized as a reference source for all lending professionals, questions and additional guidance should go to the Direct Endorsement Underwriter at the lenders office.