What is the Section of the ACT and ADP Code?

What is the Section of the ACT and ADP Code?
FHA applicable Section of the act and ADP code is required to be on the Loan Application and the MCAW.

What is the Section of the Act? FHA loans are authorized by Congress. The ACT that Congress approved the program is referred to the Section of the ACT. In addition there are sub categories that fall under ADP codes. An example of this is a Standard 30 year fixed FHA loan falls under the section of the act 203(b) and if it is not a condo the ADP code is 703. If it is an ARM the section of the ACT is the same but the ADP code is 729. Make sure you always use the correct section of the act and ADP code. Please find an attached table breaking these down.

FHA Section of the Acts and ADP codes
Loan Description -Section of the ACT -ADP Code*
Fixed Rate -203(b)- 703
Arm Rate 203(b)- 729
Buydown- 203(b) -796

Fixed Rate Rehab Program-203(k) -702
Arm and Type -234 (c ) -734
ARM Condo -234 (c ) -731
Fixed Rate Condo-234(c)-734
Condo Under $50,000-234 (c ) -749
Condo-Buydown -234 (c ) -797

Buydowns and under priced homes take presidents
*Direct endorsement if FHA processed the 700 is replaced with 200