A branch manager asks about a loan file because a trainee asks which official source controls FHA single-family origination policy. What should happen?
Correct Answer
A) Use HUD Handbook 4000.1 for FHA single-family policy
Lines 143-149; HUD FHA Handbook 4000.1 information page. FHA policy is consolidated in HUD Handbook 4000.1, not in private overlays alone. Therefore, the correct response is "Use HUD Handbook 4000.1 for FHA single-family policy".
Why This Is the Correct Answer
Lines 143-149; HUD FHA Handbook 4000.1 information page. FHA policy is consolidated in HUD Handbook 4000.1, not in private overlays alone. Therefore, the correct response is "Use HUD Handbook 4000.1 for FHA single-family policy".
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