Certified FHA Manual Underwriter (NAMU-CFMU)
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The Federal Housing Administration (FHA) back in 2014 issued new guidelines for lenders who manually underwrite FHA-backed mortgage loans. The new underwriting requirements are intended to encourage lenders to use what FHA described as a defined set of objective standards and compensating factors to make responsible, risk-based underwriting decisions. The Agency said the new rules should also increase the pool of eligible borrowers. Most FHA-insured loans are approved through automated underwriting systems that score applications using FHA's TOTAL Mortgage Scorecard. However, when a "refer" is issued or when borrowers were not scored because they do not have credit scores, manual underwriting will allow the use of compensating factors to help borrowers qualify for loans outside of automated standards -- placing a greater emphasis on the need to learn how to manual underwrite FHA files.
In response to these guidelines, NAMU® is offering a comprehensive "professional development" training & certification program entitled: Certified FHA Manual Underwriter (NAMU®-CFMU), which includes (4) FHA/VA mortgage webinars.
NAMU®-CFMU Certification Includes (4) Online Webinars:
- Due Diligence - "Learn Manual Underwriting"
- Case File Underwriting Review - "FHA/VA Loans"
- FHA/VA Underwriting - "For Underwriters"
- Multi-Family Underwriting & Processing - "FHA/VA Loans"
NAMU®-CFMU CERTIFICATION DETAILS:
- (4) FHA/VA Mortgage Webinars
- 2-3 Weeks to Initially Complete
- 1-Year Unlimited 24/7 Access
- Includes: Certified FHA Manual Underwriter (NAMU®-CFMU)
- Instructor-Led Online Recorded Webinars – Watch 24/7 On-Demand
- All Course Materials Downloaded as PDF Files
- Course Provider: CampusMortgage® (Our Training Division)
- Source Links Included – Get Further Clarity & Updates
- Ongoing “Concierge” Customer Support for 1 Year
- Group Discounts Also Available
- Download Course Catalog >>
HOW IT WORKS: As soon as you enroll, we will e-mail you links and passwords to access the Instructor-Led Online Webinar & Course Materials, so you can start taking the training IMMEDIATELY.
WHO SHOULD ATTEND: Aspiring mortgage underwriters wishing to learn FHA manual underwriting, from A to Z. Whether you're unemployed and looking to enter the mortgage underwriting profession, or you're currently working at a bank or lender as an underwriter, this FHA manual underwriting certification program will provide the skills you need to succeed as an effective FHA manual underwriter. Also ideal for underwriting managers looking to train their existing staff on proven FHA manual underwriting principles.
ABOUT THE INSTRUCTOR: Each CampusMortgage® instructor has an average of 15+ years of prior mortgage related experience. Each instructor also draws from a different knowledge base that may include such areas as: mortgage underwriting, loan processing, FHA, VA, Conventional loans, Commercial lending, USDA Rural Housing Loans and more.
SYSTEM REQUIREMENTS: You will need the following: 1) a Computer/Tablet, 2) Internet and 3) Computer Speakers. Please check beforehand to make sure these items are working properly.
EXAM FORMAT: The exam is a timed 1-hour online "proctored" (via WebCam) 30-question exam (multiple choice/true & false). You must get 75% or higher to pass exam. NOTE: You may also re-take the exam up to 3 times with a 2-week "cooling off" period in between each failed exam. If you fail the NAMU®-CFMU exam three times, you must wait 1 year before you can re-register for the NAMU®-CFMU certification -- the 1-year waiting period will start from the date of the third failed exam.
GRADUATION: Upon passing the exam, you will be issued your NAMU®-CFMU certificate as a PDF File.
IMPORTANT NOTICE: The NAMU®-CFMU certification will not provide you with a CHUMS #. You will still need to get sponsored by a lender in order to become a FHA DE Underwriter.
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