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What must be considered for credit qualifying when qualifying for an FHA streamline refinance?

Answer

Credit qualifying for an FHA streamline refinances contain all the normal features of a FHA streamline refinance, but provide a level of assurance for continued performance on the FHA mortgage.
The FHA lender must provide evidence that the borrowers have an acceptable credit history and ability to make payments. The lender must:
Verify the borrower's income and credit report
Compute debt to income ratios
Determine that the borrower will continue to make mortgage payments

Credit qualifying refinances must be considered when deletion of a borrower or borrowers will trigger the due-on-sale clause and/or following the assumption of a mortgage that occurred less than six months previously that:
does not contain restrictions limiting assumptions only to creditworthy borrowers
did not trigger the transferability restriction, such as in a property transfer resulting from a divorce decree or by devise or descent.

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