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dualboinger
Dud?


Joined: 14 Jul 2008
Posts: 3

DE Underwriters
PostPosted: Mon Jul 14, 2008 5:44 pm Reply with quoteBack to top

I have noticed FHA coming back into play and seen recent job postings for "DE approved" underwriters. It is my understanding that HUD is no longer doing Underwriter approvals and they are using a registration process through the HUD approved lenders. Does anyone have additional info on this?
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Cooldude
Dud?


Joined: 22 Feb 2008
Posts: 5
Location: FL

Re: DE Underwriter Approval
PostPosted: Wed Aug 06, 2008 4:34 pm Reply with quoteBack to top

Good question. HUD is still refering to this mortgagee letter from 1996 regarding DE and DE underwriters. HUD's website www.hud.gov has the info as well in the direct endorsement section. Hope this addresses your question.

U. S. Department of Housing and Urban Development
Washington, D.C. 20410-8000

February 22, 1996

MORTGAGEE LETTER 96-10

TO: ALL APPROVED MORTGAGEES

SUBJECT: Single Family Loan Production - Underwriter Approval Issues and the Revised Lead-Based Paint Disclosure Form

In Mortgagee Letter 95-36 (M. L. 95-36), we discussed a number of topics raised by the Business Practices Working Group that was formed earlier in the year. Specifically, the Working Group recommended that FHA end the practice of approving individual underwriters, that it provide additional emphasis on communications with lenders and training opportunities, that it study its portfolio to determine default predictors, and that it revise its lead based paint disclosure and provide additional information regarding home inspections. Each major issue is covered below:

I. UNDERWRITER APPROVAL PROCESS REPLACED WITH REGISTRATION. Effective
February 26, 1996, FHA will no longer approve individual underwriters to
participate in the Direct Endorsement (DE) program. The approval
process previously employed has been replaced by a DE Underwriter
Registry.

All DE underwriters must be registered with FHA. Failure to do so may
delay issuance of mortgage insurance certificates on loans underwritten
by non-registered underwriters. Underwriters with valid CHUMS
identification numbers and currently shown as working for an FHA-
approved lender need not re-register. We will continue to check all
underwriters against the Credit Alert Interactive Voice Response System
(CAIVRS) file and we reserve the right to remove underwriters from the registry upon imposition of sanctions taken by local FHA offices or
Headquarters.

Lenders must update underwriter information whenever a DE
underwriter is hired or when an underwriter has achieved the
necessary qualifications to underwrite FHA-insured mortgages for
the company. Lenders may add, update, or delete underwriter
information in the registry through CLAS

2

(CHUMS Lender Access System). CLAS has been expanded to maintain
the necessary information under the heading the heading
"Underwriter Registry," which is a new option on the CLAS
Add/Update Request menu (CLAS Version 8.0 is required). After the
information has been processed by CHUMS, CLAS will return an
Underwriter Update report to the lender verifying the information
provided as well as the underwriter's CHUMS identification number.
Lenders may also obtain a listing of all its underwriters on the
registry through CLAS. A copy of the CHUMS entry screen is
attached.

After June 30, 1996, the underwriter registry will be available only
through CLAS. Lenders are therefore encouraged to begin using CLAS as
soon as possible. In the meanwhile, lenders that currently do not have
CLAS may write to:

U.S. Department of Housing and Urban Development
Underwriter Registry-Single Family Development Division/HSID
451 7th Street S.W., Room 9272
Washington DC, 20410

For written requests, the lender must include the following information
on the underwriter:

<<>>
Whether this is a new underwriter (i.e., no CHUMS ID # previously
assigned)
<<>>
The underwriter's name
<<>>
Former name of the underwriter (if applicable)
<<>>
Social security number of the underwriter
<<>>
Home or office phone number of the underwriter
<<>>
Complete mailing address, either Home or Office
<<>>
Lender's five-digit CHUMS ID number
<<>>
Date the underwriter was hired

Allow up to four weeks for processing if the information is submitted
through a written request. If you have questions regarding the
underwriter registry, contact Daniel Kahn at (202) 708-2121 Ext. 2212.

Please note that the lender approval process for DE remains the same as
described in HUD Handbook 4000.4 REV-1. The lending institution is
still required to submit test cases before it can obtain unconditional
DE approval, even if it hires an underwriter already on the DE
underwriter registry.
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dualboinger
Dud?


Joined: 14 Jul 2008
Posts: 3

Re: DE Underwriter Approval
PostPosted: Tue Sep 09, 2008 4:01 pm Reply with quoteBack to top

It appears from reading information on the HUD website that the only way to become a DE underwriter is to get hired by a DE lender and be registered through CLAS. HUD then issues an i.d. for the underwriter. I assume that the i.d. number stays with the underwriter and that it is not explicit to the DE lender the underwriter was registered through. Every job post I see for FHA underwriting wants a "DE Underwriter". I have 13 years underwriting experience underwriting everything but government loans. Years ago I felt FHA/VA had no place in the market with the "Have a pulse, get a loan" programs that were prevalent. Now it appears government loan programs are going to be the only way to qualify for many would be homeowners. I also realize this is where jobs are going to be available for some time to come. Is there any one out there that can offer some advise on how to get in the door (so to speak) to FHA underwriting?
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Do_the_math
The WhistleBlower


Joined: 14 Mar 2007
Posts: 2564
Location: Groovy Town

Re: DE Underwriter Approval
PostPosted: Thu Sep 11, 2008 5:20 pm Reply with quoteBack to top

Aside from participating in DE training which FHA occasionally offers. I will be updating the training opportunities sticky as I receive them for FHA. Please note that there are two DE Underwriting classes being held 9/16 and 9/17 in San Antonio. If you are in the area, I recommend you attend. You can also attend training from private companies in your area.

However, if you are really serious about learning FHA, the best place to start is here:

http://www.hud.gov/offices/hsg.....geekit.cfm

Start with the 4155.1 and then move on to 4150.1, 4240.4, 4145.1 and then 4235.1. Don't waste your time with the rest of the manuals initially.

The manual you will want to practically memorize is the 4155.1.

You will also need to read the TOTAL Scorecard User Guide and Mortgagee Letter 2004-47. Here is a link to the FHA Total Scorecard Page where you can access the guide and ML:

http://www.hud.gov/offices/hsg.....recard.cfm

Once you do find a job and get sponsored for your DE, you'll still have to complete test cases. However, before you attempt test cases, you'll want to do some practice underwriting under the supervision of a DE first.

_________________
"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe." -Albert Einstein

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lisalew8
Dud?


Joined: 04 Nov 2009
Posts: 1

Re: DE Underwriter Approval
PostPosted: Wed Nov 04, 2009 9:01 pm Reply with quoteBack to top

Hello, I'm trying to figure out how to become DE "certified" for underwriting VA/FHA loans. I went to the HUD.GOV website and do not see any info on becoming certified. All lenders are requiring certification these days for underwriting and processing. I have heard you need to have a lender "sponser" you, but how can you get "sponsered if they're only hiring certified underwriters .

Any advise would be greatly appreciated.

Thanks, Lisa
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Hackney71
C-4


Joined: 08 Nov 2007
Posts: 1260
Location: Nashville

Re: DE Underwriter Approval
PostPosted: Wed Jun 02, 2010 3:32 am Reply with quoteBack to top

Get Hired by a BANK that underwrites their own FHA loans. You have to have like 20 loans that you underwrite "reviewed". Then your Bank can register you. They will be reluctant to do so because they can keep you and work you; but, as soon as they certify you... you can go anywhere, lol...

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Joe4430
Dud?


Joined: 16 Jul 2010
Posts: 5

Looking for DE Underwriters nationwide
PostPosted: Fri Jul 16, 2010 10:46 pm Reply with quoteBack to top

This is Joe Archuletta with ARS LLC. I have FULL TIME Salary DE Underwriters and Funders/Closer positions Southern California, and Anchorage, AK and Nation Wide that I would like to speak to you about. Could you please send me a "Word" Version of your resume and let me know of an appropriate time to contact you. If you have any questions please feel free to contact me via phone or email. Thank you for your time in advance. I look forward to speaking to you.

If you are not interested and know someone who is, I offer referral fees of $250.00 per hired candidate.

Joey Archuletta
ARS LLC/National Mortgage Staffing
949.600.0155
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