Skip to main content

PrivatePlus Mortgage Receives Approval From the FHA
Sep 15, 2015
PrivatePlus Mortgage Logo

PrivatePlus Mortgage has received approval from the U.S. Department of Housing & Urban Development’s (HUD) Direct Endorsement Program to underwrite and close FHA loans without prior HUD review. This streamlines the process for anyone seeking an FHA home loan.

“There are of course parameters for the loans,” said Dan Smith, president of PrivatePlus, “From qualifying criteria to FHA loan limits, and every individual’s circumstances vary. A PrivatePlus mortgage pro can help consumers determine if an FHA or another type of loan best suits their needs.”

FHAs also can be assumable, so a buyer may be able to “assume” an FHA loan you have when you sell your home.

“Participation in the Direct Endorsement program is a privilege accorded only to mortgagees who continue to demonstrate the ability to originate mortgage loans in accordance with HUD underwriting policy,” according to HUD.

Smith says that the approval is just another way the organization seeks to streamline business processes and expand consumer choice.

“For instance, last fall, we transitioned to a delegated underwriting model, meaning another significant portion of our processes are tackled in-house,” Smith said. “The takeaway for anyone seeking a loan is that we’re always actively working to ensure we can provide mortgage options for most scenarios and that we can control the process from beginning to end, meaning a great consumer lending experience.”

Sep 15, 2015
DOJ: Lakeland Bank To Spend $13M To Settle 'Redlining' Claims

Agreement with N.J. bank is the third-largest redlining settlement in Justice Department history.

Industry News
Sep 29, 2022
Angel Oak Layoffs Add To Growing List Of Non-QM Cuts

About 20% of its staff, or 75 people, were affected.

Industry News
Sep 28, 2022
Redwood Trust Names New Chief Investment Officer

Also announces planned CoreVest leadership transition to be completed on 3rd anniversary of acquisition

Industry News
Sep 27, 2022
Fannie Mae Pilot Program Seeks To Help Improve Renters' Credit

Renters, including historically underserved groups, will benefit from paying on time each month.

Industry News
Sep 27, 2022
Suffolk County Data Breach Puts Contracts On Back Burner

Cyberattack beginning Sept. 8 prevents title services from closing loans.

Sep 27, 2022
Nations Lending Opens Another Branch In Arizona

New Scottsdale branch welcomes Arizona native Christine McConnell as lead personal mortgage advisor.

Industry News
Sep 26, 2022