A Mortgagee must have FHA approval as a Title II Supervised, Nonsupervised, or Government Mortgagee to be eligible to participate in the DE Program. Mortgagees approved as Investing Mortgagees are not eligible to participate.
The Mortgagee must have:
- an underwriter on its permanent staff; and
- at least five years of experience in the origination of Single Family Mortgages or a Principal/Corporate Officer with at least five years of managerial experience in the origination of Single Family Mortgages.
Handbook 4000.1 I.A.5.a. is available at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh