Section 203.1 - Underwriting proceduresThe three underwriting procedures for single family mortgages are:
(a)Direct Endorsement. This procedure, which is described in § 203.5 , is available for mortgagees that are eligible under § 203.3 .(b)Lender insurance. This procedure, which is described in § 203.6 , is available for mortgagees that are eligible for the Direct Endorsement program under § 203.5 , and that are also approved according to § 203.4 .(c)Issuing of commitments through HUD offices. Processing through HUD offices as described in § 203.7 , with issuance of commitments, is available only for mortgages that are not eligible for Direct Endorsement processing under § 203.5(b) or to the extent required in § 203.3(b)(4) , § 203.3(d)(1) , or as determined by the Secretary.62 FR 30225, June 2, 1997