Privacy Act of 1974: Notice of New System of Records, Single Family Computerized Homes Underwriting Management Systems

Zusammenfassung

Modified the routine uses to identify the Federal Reserve as a Federal agency that receives CHUMS data for statistical research. The Computerized Homes Underwriting Management System supports Housing staff in the processing of single family mortgage insurance applications, from initial receipt through endorsement. F17/CHUMS processes loans for first time homebuyers, Home Equity Conversion Mortgages (HECM), Section 203(k) for the rehabilitation of existing properties, VA Certified FHA loans and other programs. F17/CHUMS also provide automated assistance in appraisal, mortgage credit evaluation, and FHA's TOTAL Scorecard, a standardized credit assessment tool. It supports the conditional commitment process from the Mortgagee's request for property appraisal through issuance of a conditional commitment, firm commitment, endorsement, and the automated production of the Mortgage Insurance Certificate.