Bottom line: Real estate secured an important victory getting direct endorsement for federally backed rural housing loans enacted into law, but the change will likely be several years in the making. (realtormag.realtor.org)
ACCREDIATIONS AND CERTIFICATIONS INCLUDING FHA DIRECT ENDORSEMENT UNDERWRITER E588, VA LAPP / SAR # 017484, FNMA AND FHLMC APPRAISAL REVIEWER AND CONVENTIONAL MORTGAGE CREDIT UNDERWRITER. (members.climber.com)
Because Spot Approvals are a thing of the past, it's important to know which of the two remaining FHA condo approval processes your lender will be using: Direct Endorsement Lender Review and Approval Process (DELRAP) or HUD Review and Approval Process (HRAP) as outlined in MORTGAGEE LETTER 2009 - 46 B. (iloanhomemortgage.com)