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Sun West Clarifies Credit Requirements for Manual UnderwritingDear Licensed Partner, Per guidelines (Handbook 4000.1) from the U.S. Department of Housing and Urban Development (HUD), loans receiving a "Refer" scoring recommendation from the Technology Open to Approved Lenders (TOTAL) Mortgage Scorecard are required to be manually underwritten. Similarly, a loan with an "Approve" scoring recommendation from the Scorecard may also be required to be downgraded to manual underwriting in certain cases. To improve transparency and to help our clients better understand how a borrower's credit is reviewed during the manual underwriting process, Sun West has updated its manual underwriting guidelines specifically for the review of a borrower's credit. The updated guidelines include additional information on how various risk factors associated with a borrower's credit are analyzed during a manual underwriting review. To access the updated guidelines, please click here. If you have any questions, please contact your Client Relations Manager at (855) OK-SUNWEST or (855) 657-8693. Sincerely,
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