4155.1 REV-4 ___________________________________________________________________________ INDEX (Listed by subject and paragraph) A Acquisition Cost 1-6(B) Alimony As Liability 2-l1(A) As Income 2-7(F), 2-9(C)(1)(h), 3-14(H) Amendatory Clause 3-5 Application 3-2(A), 3-3(A) Assumptions Chap.4 Attachment "A" 1-7(B)(2), App. VI Auto Allowance 2-7(M) B Bank Statements 3-2(G) Bankruptcy 2-3(F), 2-4(C) Borrower Identification 3-3(D) Building on Own Land 1-8(D) Buydowns 2-14 C Cash-on-hand 2-10(M) Citizenship, not required 2-2(B) Child Care Expenses 2-11(A) Child Support As Liability 2-11(A) As Income 2-7(F) ___________________________________________________________________________ 6/92 ___________________________________________________________________________ 4155.1 REV-4 ___________________________________________________________________________ Closing Costs 1-7(A)(1) Commission Income 2-7(D) Community Property States 2-2(C) Compensating Factors 2-13 Concessions Financing 1-7(B)(2) Sales 1-7(B)(1) Contingent Liabilities 2-11(B) Construction Stage 1-6(B)(2) Co-Borrowers Non-Occupants 1-8(B) On Title 2-2(A) Cosigners 2-2(A) Credit Documents (Age of) 3-2 History 2-3 Reports 3-3(B) Credit Alert System (CAIVRS) 2-4(C) Streamline Refinances 1-12 Assumptions 4-4(C) D Debt-to-Income Ratio 2-12 Deposit Verification 3-2(G) Depreciation 2-9(C)(1)(c), 2-9(C)(2) ___________________________________________________________________________ 6/92 ___________________________________________________________________________ 4155.1 REV-4 ___________________________________________________________________________ Disclosure Statement 3-2(B) Discount Points 1-7(A)(1), 3-8 E Earnest Money 2-10(A) Effective Income 2-5 Employer Assistance 2-10(I) Employment 2-7 Energy Efficient Homes 2-12(C) Equal Credit Opportunity Act (ECOA) 3-14(C) F Face-to-Face Interview 3-6, 4-4(B) Fair Housing Regulations 3-14 Federal Obligations 2-4(B) Foreclosure 2-3(E) Funds for Closing 2-10 G General Contractor 1-8(D) Gift Funds 2-10(C) Gross Income 2-12 H Hotel and Transient Use 3-11 HUD-1 Settlement Statement 2-10(E) ___________________________________________________________________________ 6/92 ___________________________________________________________________________ 4155.1 REV-4 ___________________________________________________________________________ HUD-Owned (PD) Properties 1-4 I Identity-of-Interest 1-8 Income Alimony 2-7(F) Commission 2-7(D) Interest and Dividend 2-7(H) Non-taxable Income 2-7(0) Overtime and Bonus 2-7(A) Part-time and Seasonal 2-7(B) Projected 2-7(P) Ratios 2-12 Rental 2-7(L) Retirement 2-7(E) Salary and Wage 2-7 Self-Employed 2-9 Social Security 2-7(E) Trust 2-7(N) Unacceptable 2-5 Income Tax Returns 2-9, 3-2(H) Corporate (IRS 1120) 2-9(C)(2) Partnership (IRS 1065) 2-9(C)(4) "S" Corporations (IRS 1120S) 2-9(C)(3) Schedules B 2-9(C)(1) Income Verification 3-2(F) Interest Rate 3-8 Investor Mortgages 1-4, 1-5 In-file Credit Reports 4-4(C) L Land Contracts 1-8(E) Land Equity/Value 1-8(D) LDP List 2-4(A) ___________________________________________________________________________ 6/92 _____________________________________________________________________ 4155.1 REV-4 ___________________________________________________________________________ Legal Documents 3-13 Lender-Paid Closing Costs 1-7(A)(1) Living Trusts 2-2(E) Loan-to-Value Ratio Co-borrowers and 1-8(B) Identity-of-Interest 1-8(A) Financing Concessions and Maximum Financing 1-6(B) Payoffs of Land Contracts 1-8(E) Purchase Transactions 1-6(B) Refinances 1-12 Subordinate Financing and 1-13 M Maximum Mortgage Amount 1-6 Built on Own Land 1-8(D) Co-Borrowers and 1-8(B) Construction Stage of Property 1-6(B)(1) Land Contracts 1-8(E) Identity-of-Interest 1-8(A) Owner-Occupied 1-6(B)(2) Refinances 1-11 Secondary Residences 1-6(B)(4) Solar Energy System 1-7(C)(1) Statutory Limits 1-6(A) Three- and Four-Unit Properties 1-8(C) Values > $50,000 1-6(B)(1) Veterans 1-6(B)(2) Military Personnel 2-2(D), 3-6(A), 3-7(A) Minimum Investment 1-9 Mortgage Credit Certificates 2-7(I) Mortgage Insurance Premium 1-6 Mortgage Limits 1-6(A) Mortgage Payment-to-Income Ratios 2-12 ___________________________________________________________________________ 6/92 _____________________________________________________________________ N Non-Profit Organizations -As Borrowers 1-5 -Providing Secondary Financing 1-13 Non-Purchasing Spouse 2-2(C) Non-Realty Items 1-7(B)(1)(d), 1-9(C) Note (Mortgage) 2-2(A), 3-13(A) O Obligations Not Considered 2-11(D) Projected 2-11(C) Recurring 2-11(A) Occupancy Status 1-2 P Payment Record 2-3(A) Personal Property Items -In Mortgage Amount 1-7(B) -Sales of 2-10(G) Picture Identification 3-3(D) Power of Attorney 3-7 Premium Interest Rate -On Purchases 1-7(A)(1) -On Refinances 1-12(C)(6) Prepaid Expenses -Paid by Seller 1-7(B)(1)(a) -As Settlement Costs 1-9(A) Principal Residence 1-2 ___________________________________________________________________________ 6/92 _____________________________________________________________________ 4155.1 REV-4 ___________________________________________________________________________ Projected Obligations 2-11(C) Property Disposition Sales 1-4(B) Proposed Construction 1-6(B)(1) Q Questions and Answers Appendix I R Ratios Debt-to-income 2-12 Energy-efficient homes 2-12(C) Mortgage payment-to-income 2-12 Loan-to-value 1-6(B), 4-5 Total fixed payment-to-income 2-12 Real Estate Broker Fees 1-7(B)(1)(d), 1-7(C)(2) Real Estate Certification 3-4 Real Estate Commissions -As Assets to Close 2-10(P) -As Sales Concession 1-7(B)(1)(d) -In Mortgage Amount 1-7(C)(2) Recurring Obligations 2-11(A) Refinance Transactions 1-10 Release from Liability 4-3 Rent Credit -As Assets 2-10(N) -As Sales Concession 1-7(B)(1)(c) Rental Income 2-7(L) Repairs and Improvements 1-7(A)(2) Residency Requirements 1-2, 2-2(B) ___________________________________________________________________________ 6/92 _____________________________________________________________________ 4155.1 REV-4 ___________________________________________________________________________ Residential Mortgage Credit Report 3-3(B) Room and Board Income 2-7(L) Rural Outreach Areas 3-6(D) S Sales Agreement 3-2(I), 3-12 Sales Concessions 1-7(B)(1) Sales Proceeds 2-10(E) Seasoning Requirements 1-11(A) Second Homes 1-3 Secondary Financing 1-13 -On Assumptions 4-4(D) Secondary Mortgages Refinances of 1-11 Security Instruments 3-13(A) Self-Employed Borrowers 2-9 Settlement Requirements 1-9 Seven-Unit Limitation 3-10 Signature Requirements 3-13(A) Social Security Number 3-3(D)(2) Solar Energy System 1-7(C)(1) Sources of Funds 2-10 Spouse Information 2-2(C) Stability of Income 2-6 ___________________________________________________________________________ 6/92 _____________________________________________________________________ 4155.1 REV-4 ___________________________________________________________________________ Statutory Limits 1-6(A) Streamline Refinance 1-12 Subordinate Liens -On Streamline Refinances 1-12(c)(9) -Seasoning Requirements 1-12(A) Sweat Equity 2-10(O) T Tax Returns 2-9, 3-2(H) Corporate (IRS 1120) 2-9(C)(2) Partnership (IRS 1065) 2-9(C)(4) "S" Corporations (IRS 1120S) 2-9(C)(3) Schedules 2-9(C)(1) Three- and Four-Family Units 1-8(C) Title to Property 3-13 Changes to 1-12(C)(7), 4-3(A) Trade Equity 2-10(F) U URLA 3-2(A) Underwriting Buydowns 2-14(A) Credit documents 3-2 Debt-to-income ratios 2-12 Self-employed borrowers 2-9 V Verifications 3-3(C) Veterans 1-6(B)(2) VA benefits 2-7(J) ___________________________________________________________________________ 6/92 _____________________________________________________________________ 4155.1 REV-4 ___________________________________________________________________________ W Waivers 1-12(C)(8) Weatherization 1-7(A)(3) ___________________________________________________________________________ *U.S. Government Printing Office: 1992 - 312-218/60201 6/92 --------------------------------------------------------------------------------