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Can Section 203(k) be processed under the Direct Endorsement program?

April 26, 2017Endorsement processed program section

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Can Section 203(k) be processed under the Direct Endorsement program?

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Yes. Direct Endorsement Lenders are required to attend special training prior to processing 203(k) loans and they must submit test cases as determined by the local office.

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All unconditionally approved Direct Endorsement (DE) lenders are eligible to process Section 203(k) loans without completing any pre-closing test cases. The Streamlined K Limited Repair Program also does not require submission of pre-closing test cases for DE lenders with unconditional approval.