A direct endorsement underwriter is a person who does FHA, Federal Housing Administration loan underwriting. With traditional loan funds difficult to come by many mortgage brokers have made a turn to government lending and as a result, individuals with experience in dealing with the FHA are in demand and within the industry, there is a marked shortage of personnel who have the necessary experience. Even those who had experience and then turned away to non-traditional financing some years back are having difficulties because of the changes in FHS appraisal protocols which they did not keep up with. To fill these DE underwriter jobs a lot of people are taking classes to be reinstated by HUD.
With an FHA loan, not so with a conventional loan, the DE underwriter jobs entail working with lender to verify that the mortgage application is valid and all the documents meet the current FHA requirements. Once this is done, the FHA loan is qualified for FHA insurance endorsement. To become a DE underwriter and take advantage of the DE underwriter jobs that are available, the lender certifies the credentials of the candidate and registers the person with HUD; the process is called “nomination.” As the FHA requirements for a loan are changing constantly, becoming a DE underwriter can be quite a challenge.
To become a direct endorsement underwriter, choose a school that provides in depth training and offers the maximum number of classes and instruction. Take as many DE related courses as you possibly can, after each course you will be granted a certificate of completion. Each of the courses takes about eight hours so it is possible to get a number of them done in a reasonably short period of elapsed time. There is no mandate by HUD as to the number of classes that are necessary or are any of the training schools affiliated or accredited by HUD. The reason you need DE knowledge is to pass the lenders demands for the DE underwriters jobs that he has on offer. The requirements between lenders can vary considerably, hence the need for as much knowledge as possible.
Once you have completed the modules, apply for DE underwriting jobs with HUD approved FHA lenders. The employer will make the nomination to HUD so that you can become a certified underwriter.
If you are looking to be hired for one of the DE underwriting jobs that are on offer, you are invited to work with QUEST Mortgage Staffing. QUEST has been matching employers and employees for over 10 years.
