The Federal Housing Administration has improved communications with the mortgage industry.
The initiative will help reduce the difficulty the FHA and its four Homeownership Centers have had in responding to the 1.2 million annual inquiries they receive from the mortgage industry and the general public regarding home mortgage insurance programs, processes and requirements, according to a May 1 mortgage letter.
To help ensure prompt, accurate, and consistent responses to all inquiries, FHA awarded a four-year contract to Virginia-based Electronic Consulting Services to create the national FHA Resource Center.
While the center will provide general processing and policy information to any industry representative, case specific discussions relative to underwriting policies will be held with only the Direct Endorsement underwriter, the statement said. The center will use an automated client management system that will collect and maintain identifying information from lenders, underwriters, appraisers, inspectors and any others on all inquiries.
The center's underwriting, appraisal, and processing online knowledge base will become a searchable guide to find answers to frequently asked questions.
Inquiries can be made by telephone to 800.225.5342 or by e-mail. Chat sessions with a customer center representatives should be available June 1.