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by CareyBot

The Department of Housing and Urban Development has streamlined the process for originating Federal Housing Administration (FHA) mortgages with a new Lender Insurance Program. The new program enables high-performing lenders to endorse FHA mortgage loans for insurance without a pre-endorsement review by HUD, the agency said Monday. This expedited procedure is part of HUD's overall effort to make FHA loan processing easier and more cost-efficient so that lenders will be better able to offer FHA-insured loans and expand the affordability of affordable financing for potential home buyers, according to the agency."We're taking a giant leap forward in creating a more user-friendly loan origination process for our lending community," said Assistant Secretary for Housing-Federal Housing Commissi...