Mortgagee Clauses:

Conforming, FHA and USDA

 Life Mortgage Group, LLC

ISAOA/ATIMA

8922 Ruffian Lane

Newburgh, IN 47630

Submission Process

Loans must be submitted through Webtrac

When submitting a file, please upload your package to Webtrac.

Webtrac Instructions

Newburgh Operations Center

Fax: 877-698-2940

Lisa Holder  812-604-3719

Dennis Peterson 636-236-1661

Brian Chambers 812-459-2406

Starting 10/06/09 we will have a new process on resubmissions.

Print off the condition sheet.

Put the conditions in the order of the condition sheet.

Upload all of the conditions in Webtrac.

Email that all conditions have been uploaded to resubmit@lifewld.com.

At the end of each day processing will check the emails and if they have not uploaded full packages they will email back that they will not be resubmitted because of insufficient resubmitted packages.

What is needed in an FHA File??

 Minimum Requirements

Fee/Doc Request

Regardless of AUS decision, the minimum FICO is 640 for purchase, rate/term refinances and cash out refinance transactions
The minimum FICO is 640 for credit qualifying streamline refinances including transactions with or without an appraisal.
The following are no longer eligible:
Non credit qualifying streamline refinances including transactions with or without an appraisal.
Manufactured homes
Non-traditional credit – is defined as a credit history having no established traditional credit tradelines or minimal established traditional tradelines that are not sufficient to generate a FICO score. All loans with a credit score must meet the minimum score of 640.
All FHA AUS Refer and Manually underwritten loans must reflect housing payments of no more than 31%