FHA Single Family Housing Policy Handbook 4000.1, Part II — a. Direct Loan (05/09/2022)
FHA Single Family Housing Policy Handbook 4000.1, Part II — a. Direct Loan (05/09/2022).
Verbatim regulatory text
Verbatim provisions from FHA Single Family Housing Policy Handbook 4000.1, Part II — a. Direct Loan (05/09/2022) — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
FHA Single Family Housing Policy Handbook 4000.1, Part II — a. Direct Loan (05/09/2022)
a. Direct Loan (05/09/2022) i. Definition A Direct Loan process refers to where the Borrower applies directly to the Lender or its sponsored TPO for the Loan without assistance from a Dealer, contractor, or third party that has a financial interest in the loan transaction. A Dealer’s recommendation of a Lender to a Borrower is not considered a Dealer Loan. ii. Standard The credit application, signed by the Borrower, must be filled out by the Borrower or by a person acting at the direction of the Borrower who is not a Dealer, contractor, or third party that has a financial interest in the loan transaction.