500-579 FICO Score

Open Mortgage will now accept FHA files with credit scores between 500-579 into Underwriting for review. If the file meets agency guidelines, the path the loan follows will either be a delegated in-house underwrite by Open Mortgage Underwriters or it will be sent out to an investor for a non-delegated underwrite. The file may not be registered or locked until the path has been determined

Please visit the FHA Sub 580 Loan Folder for instructions on processing this loan type.