We have two systems calculating the FHA origination charge differently, and can't find anything that says how it's supposed to be calculated. Our Mortgage Dept. called FHA and called our investor, neither know - they said to check with HUD/RESPA... Called HUD but it just rang and rang. I don't see the answer in RESPA, the FAQs or on HUD's website anywhere.
Is the FHA 1% origination charge calculated off of the base loan amount or the total loan amount that has upfront MIP rolled in? Where can we find the official document that tells us this?
Thank you!