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Credit Watch Termination Initiative; Terminations of Direct Endorsement (DE) Approval
Plain English Summary
The Federal Housing Administration (FHA) has ended the Direct Endorsement (DE) approval for certain mortgage lenders due to their performance issues. This change affects those lenders who are no longer allowed to approve loans directly. Agents should check the list of affected mortgagees and advise clients accordingly.
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This notice advises of the cause and effect of terminations of Direct Endorsement (DE) approval taken by HUD's Federal Housing Administration (FHA) against HUD-approved mortgagees through the FHA Credit Watch Termination Initiative. This notice includes a list of mortgagees that have had their DE Approval terminated.