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Underwriting Manual: Underwriting and Valuation Procedure Under Title II of the National Housing Act



Release Date: 
February 1938 (439 pages)
Posted Date:   
June 22, 2018



This historical manual contains instructions, policies, and regulations governing the work of FHA underwriting staff tasked with determining the eligibility of non-farm mortgages for insurance under Title II of the National Housing Act. Broadly, the determination was made by ascribing a risk rating to the applicant as compared to a value rating of the property. Published in 1938, the document references policies of racial discrimination.


This report is part of the collection of scanned historical documents available to the public.

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Note: Guidance documents, except when based on statutory or regulatory authority or law, do not have the force and effect of law and are not meant to bind the public in any way. Guidance documents are intended only to provide clarity to the public regarding existing requirements under the law or agency policies.