FHA Streamline Refi / Credit Score Basis

Trying to do an FHA streamline refi (no appraisal / credit) for interest rate reduction.  It seems that now most all banks need at least 620 middle score even for this type of refi (seems to negate the "no credit" aspect).

All payments with FHA ontime, but this case number paid a delinquent conventional loan, although this is not FHA Secure.  Middle credit is almost back to 620, but wondered if anyone out there knows of a bank/broker doing FHA Streamline without 620 requirement?  Thanks,

Christian who is your current lender? I ask this because some lenders that currently service your loan do not require you to have a credit score if you go back to them via retail and or wholesale.

Michigan, Flagstar Bank.  Generally very good, but I've learned quite high priced comparitively.  They lost $ last quarter and just raised the minimum score to 640 mid.  Probably to get better returns in the market for the shareholders (guessing).

I realize the market behavior, but if FHA is offering (is PMI for something??), then it would seem that borrowers with good recent history should have some options.

Are you dealing with Flagstar or a broker going thru Flagstar.  I just pulled up the guidelines and it says "no score requirement" if it is Flagstar to Flagstar.  You might want to double check.

If you are doing a new streamline, refi or purchase with a new bank and not your current lender the Min credit requirement is and has been 620 for about 6 months now for FHA loans. Prior to that it was 580. If your home has equity you can try for conv  I have seen in my underwriting system loans go approved all the way up to 75% LTV/CLTV with compensating factors such as Assets, Income, and Value. Good luck I hope this helps.