FHA Releases Update to TOTAL Mortgage Scorecard

FHA recently updated (FHA INFO #20-97) its Technology Open To Approved Lenders (TOTAL) Mortgage Scorecard. The update went into effect on January 1, 2021.

The new version “incorporates adjustments to maintain and improve upon predictiveness as part of FHA’s continual revalidation of the TOTAL scoring model.”  The update will affect mortgage scoring in the following ways:

• All mortgages being scored for the first time will be scored using the new version;
• Mortgages that had a case number before the update will continue to be scored using the version in effect when the case number was assigned;
• Existing mortgages scored without a case number will be scored according to the version number tag that is provided in the TOTAL file by the AUS provider (if none, then the current version will be used); and
• All mortgages without a case number will be scored using the new version 90 days after the new version is implemented.