Why doesn't FHA just open up a school?

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Oceans11 in Aliso Viejo, California

77 months ago

The need for qualified & DE certified underwriters has been a hot topic. Basically there's good u/w out there who are out of work who would do anything & pay anything to get this qualification because it's basically an "E" ride ticket (for those of you old enough to remember this at Disneyland) back to their regular salary & a familiar way of employment.

So why doesn't FHA take advantage of this & open up some schools? They could literally charge a small pot of gold & people WOULD PAY!!

I paid $395 for a worthless certificate from FHAUniversity.org so if I could get an actual DE certification sponsored straight from the source FHA I'd probably plunk down $1200-$1800 for this if not more. I think the cost could be justified because you could easily pay this tuition back within a year once you landed a job.

What do you guys think?

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Carl in Oakland, California

76 months ago

You sound like an entrepreneur!! LOL
Well FHA has no entrpreneurial spirit so although your idea makes total sense & sounds like a win/win for both struggling credit crisi lending & struggling underwriters it will probably never happen. I'm an unemployed FNMA u/w & I'd gladley pay $2000 to get certified only because that's the only game in town.

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Oceans11 in Aliso Viejo, California

76 months ago

Thanks! I don't think it takes a genius to figure out if FHA opened up a department that just certified new underwriters they could make a sweat little profit. I mean its not going to make them a ton of money but that's not the point is it?

The point is to have some quality control over the new underwriters that are cropping up very slowly. The reason why it's slow is the few remaining lenders are UNWILLING to spend just a small amount of money to invest in the future & everyone in the mortgage game knows that FHA is the future when it comes to non-conforming loans.

I see ad after ad of lenders wanting underwriters, but they put in bold capitalized letters, "MUST HAVE DE CERT!", well guess what Mr. Lender you didn't care about DE certs before & not many underwriters bothered to get them & now that you're having to scramble to stay in business & you decided to switch to FHA/VA you're having problems finding good underwriters! CHICKENS COMING HOME TO ROOST!

I say good, let the cheap lenders suffer for a while, let them get employment complaints from EDD from their current staff of u/w being overworked & getting lawsuits slapped on them on top of everything else. Maybe then they'll wake up, go to the bank & splurge on hiring a few of the many of u/employed underwriters that are out there!!

Carl in Oakland, California said: You sound like an entrepreneur!! LOL
Well FHA has no entrpreneurial spirit so although your idea makes total sense & sounds like a win/win for both struggling credit crisi lending & struggling underwriters it will probably never happen. I'm an unemployed FNMA u/w & I'd gladley pay $2000 to get certified only because that's the only game in town.

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Cindy

75 months ago

FHA is HUD. A government agency. Why would they want to open up a school? This is the reason that the industry is in such a mess. If you want to learn you need to get with a company that is Sponsored and THEY will teach. FHA/HUD is not going to take the lead or responsibility to teach you anything.

This is the way of mortgage banking for many years. So if you really are a true mortgage banker then you will get on task and lear it yourself.

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Oceans11 in Aliso Viejo, California

75 months ago

I don't think you understand clearly what I'm getting at. Presently the mortgage industry & the lenders who are converting into FHA primary lenders & even those who have been FHA lenders for a while won't take the time nor spend a small amount of energy & of course money to train & get highly qualified & motivated underwriters the chance to learn. Isn't that what you're suggesting?

And my suggestion has nothing to do with why mortgage banking is in the mess today, c'mon get off your high horse!

You obviously took my post as though I'm sitting on my a$$ waiting for a government hand out, which if you had taken the time to clearly read my post my main point is that underwriters who took the FNMA/FHLMC, Alt-A or Sub-prime route (which was just a choice & does not constitute aptitude nor desire) but yet the doors for us are clearly shut.

Ads in the paper are asking for FHA+ 10 years of experience which is fine but when you see these same ads from the same companies week after week the thought is that the FHA underwriter pool is dwindling & sooner or later these companies will have to start training or as my suggestion maybe FHA will train & get underwriters certified so the cost & yes obviously "risk" does not fall directly on the lender. Another suggestion is that this would not be a FREE training & costs of up to $2000-$3000 in my opinion could be warranted if the desire to become an FHA underwriter is there.

If you're an FHA underwriter & you have a good job then great for you!!! But there are a lot of underwriters out there, good underwriters, with deep experience who aren't being given that chance.

By the way, I'm out of the mortgage industry & I am a Middle Market Medical Underwriter which (not bragging in anyway) is 10 times more difficult then anything in the residential banking industry & on par with Commercial underwriting.

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Lisa Marie

75 months ago

Oceans, I couldn't agree with you more. I have been a mortgage underwriter for over 15 years, but I do not have FHA experience - I never had a position where it was a requirement. Now, with the mortgage crisis, I have been unemployed for almost a year ... every employer wants FHA certification, and even with my extensive underwriting background, I have been unable to find ANY lender willing to train for it. It's completely frustrating, I haven't been without employment for more than a week since I was 18 years old. I would gladly pay for FHA training in a heartbeat.

I said I was unemployed earlier, which isn't entirely true. I am currently a mortgage broker at a shop specializing in FHA, but with the current marketplace, loans are few and far between - plus, I don't really like the broker side of the business, so that coupled with the fact that I'm basically making no money, I still consider myself unemployed and will continue to so until I can get back to what I love to do and what I'm extremely good at - underwriting.

I am glad you were able to find an underwriting position within the insurance industry. Congratulations, I've tried to go the same route, only to be told that they require experience in the insurance industry. How were you able to get your foot in the door, if I may ask?

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Oceans11 in Aliso Viejo, California

75 months ago

Hey thanks for the reply Lisa Marie! I don't see anything wrong with FHA taking the lead, initiative & just having a conscience in regards to all the out of work Mortgage Operations people there are out there right now. Sales jobs are a dime a dozen but Underwriter, Funder, Processor jobs are few & far between & the reason why we're seeing unemployment of 7,8 up to 12 months & beyond is that the talent pool is so HUUUGE!!!! What Cindy also failed to understand is it's a catch 22 out there right now. You aren't certified so they won't hire you but you can't get certified unless.......THEY HIRE YOU!!

Set up some remote class rooms, put together a few thousand test files & charge $2000, $3000 per person! If you're a lender hold back the true salary & pay a small hourly wage $12 bucks an hour, until the underwriter is completely certified. That way even if they bail, (which would be idiotic) you didn't pay much into it.

As far as how did I get into being a Medical Healthcare Underwriter? In all honesty I think being laid off way back in February 2007 actually helped because I just think I was that much more hungry & aggressive then those being laid off in November or December of the same year! The company I work for had some good experiences with laid off mortgage people & they decided to do a 2nd wave of underwriter hiring. I was 1 of over 350 MORTGAGE applicants (so I was told) & got the job!

I'm not naive because I'm sure they got us on the cheap but I can't find another industry out there that will pay me almost $60K salary for being a complete newbie! I have friends who are barely making in the $40K range right now so I know I'm fortunate.

But I don't want to kid anyone this kind of underwriting is "REAL" underwriting. No offense but what we did in mortgage was literally 1st grader level. Some days I really don't know if I'll make it but then I punch through & persevere. Good luck LM!!!

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Reid in Huntington Beach, California

75 months ago

Hi there Oceans 11! I'm happy for you to score a Underwriting gig with a Insurance Company. But one question you compare Underwriting Medical as being on Par with Commercial Underwriting, have you ever done Commercial Underwriting before? I know Commercial and I got over 20 years Knowledge and Experience with Commercial. Would it be that hard for me to pick-up and understand if I apply for a Medical Underwriter Position?

I have read all the blogs on this page. Yes I do remember those E tickets at Disneyland. The reason why Cheap Lenders will not pay for the education of FHA/VA is because once you get Cert. they are afraid you will leave the company after the first time they give you some (Caa Caa) about your work or they are afraid you will find a better position that pays more then them.

You know if our Government ever got smart. Oh that's right look who is our President and the Administration that is running this Country. Maybe the next Administration will get smart and start a Cert. program that the good Underwriters are willing to pay the fee's for classes and Certs. instead of the Cheap Lenders.

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Oceans11 in Aliso Viejo, California

75 months ago

Hey Reid! What's going on with Commercial underwriting? That was the route I originally wanted to go & still do to some extent. I must admit I'm just partial to banking/finance underwriting more than medical underwriting. I wish I could get someone on the Commercial side to take me a little seriously like Healthcare did.

I base my opinion on the likeness of both Underwriting fields from friends on your side of the business (can you believe THEY can't even get me in! LOL) & many of the parameters Commercial underwriters & medical underwriters look at such as company financial, demographic adjustments, yearly trends per product, group, sector. Also, the mathematics & Excel knowledge tend to go hand in hand as well.

You should be able to pick Underwriting Healthcare much easier than I did coming from Residential Mortgage Underwriting however what the Healthcare industry lacks is technology & a true Operating System. Many base their whole projections & calculations off of Excel spreadsheets & the good ol ten key! This is the true learning curve, learning to truly underwrite without an LOS (loan operating system) doing all the mundane "monkey" work.

The reason for this is because many who go into the underwriting healthcare are straight from college with degree's in math or have Actuarial degree's or certificates. There basically true "bean counters" & accountants. Not many come from a mid level career & transfer over. My group consists of 3 mortgage people & we are having a difficult time but we're making it!

Give it a shot. I like it. It's much more professional than mortgage banking & very relaxed with no end of the month crap!

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Mary Kay in Centreville, Virginia

73 months ago

Hi Oceans 11 -

I've been gainfully unemployed for 8 months and I can't get a bite at all. I took that same FHA training course and it was basically a waste of time and $395 to boot. I have over 25 years of underwriting and have come close several times to getting my DE, but something always happened that prevented it. For instance, back in the 80's, up untill 1996, FHA DID require that all underwriters attend their 3 day FHA seminar. Well, I went to the first two days of the seminar, but the gal I was to replace while she went out on maternity leave, went into labor 3 weeks early and I had to return to the office the next day and therefore missed the 3rd and final day of the seminar. Hence, no DE. FHA stopped doing the seminars in '96, primarily because there wasn't much of a market for FHA anymore. Now, 90% of all business is FHA and those of us who are qualified UW's without the govy designations are pretty much screwed. Funny, back in the day, there weren't AUS systems and we underwrote ALL files in what is now called a manual underwrite. As for the comment on whose in office and the administration, etc - hate to point out that the economy was doing just fine, up until 2 years ago, when the democrates got control of both houses. Not to mention Barney Frank putting the Kybosh on anything that looked like a serious look see into Fannie and Freddie - Which brings me to another point that I have been bitching about for the last 5 years - why the hell did Fannie and Freddie open up and OK the stated deals for wage earners in the first place? Easy - one word - GREED. And we are the casualties of that greed. Just makes me sick. The stated income program came out in about 85, and it was designed specifically for the top corporate types that didn't want to have to release their corp and partnership returns of every partner in the firm, just so they could buy a home. That is who the program was designed for, not your basic Joe on the street.

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Oceans11 in Aliso Viejo, California

73 months ago

It's a complete joke out there right now guys!! Sure there's tons of Loan Officer positions & I even see processing jobs pop up every once in a while. So in the heck are underwriting these files? I guess it's business as usual get more LO's to sell, get more Processors to process but keep the same amount of underwriters & beat them down until their dead on their feet! Makes no sense, in the great scheme of it all they'll try to tell you that to staff underwriters is much more expensive but if your average LO is making $5000-$7000 a month I don't see how this is soo much cheaper??!?!!!!!

LENDERS START HIRING US UNDERWRITERS ALREADY!!!!!!

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Shawna in Jupiter, Florida

73 months ago

Good Morning,

I have been a FHA processor for about 6 years. I really want to become an underwriter. Where can I get training on this and how ould I go about getting FHA/ DE certified can anyone point to aome leads? Thanks!

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Reid in Huntington Beach, California

73 months ago

Hi there Mary Kay! I am sorry you have been out of work for over 8 months. But I have been looking for much longer, for a Contract or Permanent position. To address this mess we are in, it started more than five years ago when the current Administration and the Republican controlled Congress deregulated more of the safeguards that Fannie and Freddie Mac had in place. The reason why I know this, I was one of those people that would do Quality Control or Auditing for the Companies that would buy the loans for the Secondary Market. So this did not happen just 2 years ago like you have stated. Just 3 and a half years ago I told my Bosses that a majority of this NI and NA qualifiers were fraudenlent. Because the income on some of the 1003's, like for example, a Janitor was making $8,500 per month with a FICO of 625 avg. that is a HARD ONE to BELIEVE. The reason that FHA/VA stopped doing seminars was because their loan amounts did not keep up with the the rising home values in some parts of the U.S.. Also Banks and Mortgage Companies saw that they were making more MONEY doing Conventional Loans then FHA/VA loans.
I also have been a underwriter for Commercial and Residential for over 33 years in the Lending Industry, but there are no jobs here in the U.S.A.. The reason why there are NO jobs here, is because AUS can be used anywhere in the world with CHEAP labor and the TAX BENEFITS that a Bank or Mortgage Corporation receives from our Government. The QUESTION is how many Underwriters, know how to truly underwrite without the use of a AUS system like you and I.

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Oceans11 in Aliso Viejo, California

73 months ago

Which drives home the fact that too much emphasis was paid towards AUS systems & consequently too much income was paid for individual underwriters who knew how to "work" the system & who knew how to memorize mundane guidelines but didn't understand the risk inherent to those guidelines. The art of "manually" underwriting a file was almost lost. And when I say "manually" underwrite I don't mean taking the 1003/1008 & scribbling all over it. I don't know how many underwriters sat that & stuck their chests out men & women alike saying, "I know how to manual underwriter" just because they scribbled all over the 1003/1008!! That's ridiculous!!

Come underwrite Group Medical Insurance, then you'll have some idea what "manual" underwriting is. And you'll see how either underpaid you are or overpaid you were.

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Oceans11 in Aliso Viejo, California

73 months ago

Shawna in Jupiter, Florida said: Good Morning,

I have been a FHA processor for about 6 years. I really want to become an underwriter. Where can I get training on this and how ould I go about getting FHA/ DE certified can anyone point to aome leads? Thanks!

You're definitely on the right path. Are you processing FHA loans now? If so, why don't you ask your current employer to sponsor you & get training until you get your CHUMS #? Unless you work for a broker.

There's no "true" schools & FHA isn't resourceful or ambitious enough to make a few bucks by opening schools to teach FHA so you're just going to have to do what many of us chomping at the bits to do, which is to wait for a lender who's waited too long for a good FHA underwriter because the talent pool has dried up & hire, train & help get certified non FHA underwriters.

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Bill in Englishtown, New Jersey

73 months ago

Cindy said: FHA is HUD. A government agency. Why would they want to open up a school? This is the reason that the industry is in such a mess. If you want to learn you need to get with a company that is Sponsored and THEY will teach. FHA/HUD is not going to take the lead or responsibility to teach you anything.

This is the way of mortgage banking for many years. So if you really are a true mortgage banker then you will get on task and lear it yourself.

Any Suggestions on companies that are sponsored?

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Oceans11 in Aliso Viejo, California

73 months ago

Just look at any bank or lender that's originating & funding their own FHA loans. The problem is that they're not willing to take on any underwriters to train & get these underwriters certified. It's a catch 22 right now, "Cindy" made it seem like there's FHA lenders all around willing to train & all I was looking for was a handout, clearly she didn't read the post & she's probably never been laid off for more than 1 month.

If you're willing to bump yourself back down to being a processor then that would be an excellent way to get your feet in the door but you know mortgage companies & banks have a reputation of "agreeing" to move you up to the "open" spot once one turns up & then next thing you know someone's mothers, aunt's cousin got the position.

All I can say is good luck! I believe the New York/New Jersey, Atlanta & the Greater Los Angeles area's are the best places to TRY & become an FHA certified underwriter but it's a tough battle right now.

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Pajama Work in Ocean City, Maryland

70 months ago

Forget Underwriting for a salary and learn how to market FHA Streamlines. You already know more than most loan officers and this is one of the best tools I have as a loan officer; knowledge!

Respectfully,
Chuck

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Oceans11 in Aliso Viejo, California

70 months ago

Thanks but I've tried traveling down the sales road before (I even have my Ca. Brokers License).

But most Underwriters I know including myself like the advantage of not having to be a phone jockey. Plus I like the analytical aspects of underwriting & problem solving without having to talk & convince someone to do something they most likely don't want to do........even when they really should.

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Misha in Stanford, California

70 months ago

I have over 5 years of FHA Mutifamily Processing and Underwriting experience. I've been applying for underwriting and loan processing jobs online and have not received any feedback from employers. It's strange that if FHA experience is now in demand in the market, why isn't anyone even responding to my resume? Maybe because there are more lenders searching for single family residential FHA positions??...

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moneyfornuthin in Phoenix, Arizona

65 months ago

Umm....after reading the above I have a stupid question. Since FHA isn't certifying anyone for DE, then why not call yourself a DE Underwriter. Take the rotten class and get the stinky certificate...and be gainfully employed. As one who has been through four of these futile recessions, when the press are looking for a witch to burn, they will point fingers at whomever they can..goes with the territory. So even if you do your best, do a good job, miss one file, you can still get cranked.
Why worry? being paid is more important than being right..........

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Joe in Aliso Viejo, California

65 months ago

Ummmm because it doesn't work that way. You MUST be sponsored by a lender who is approved to do FHA loans. Only then can you have your loans looked at by an FHA Sr. Underwriter who will then have them submitted to HUD to verify that you know what you're doing.
ONly after that process will you obtain a CHUMS # & your LAPP if you're trying to get VA as well.

You can't just call yourself a DE certified underwriter because you have what is called CHUMS # that is official & follows you every where you go. Like in the military you can't just say, "Yeah I'm a General" you'll have records, designations & badges to verify it.

You can't just, "Take the rotten classes" because there's no designated classes to take. It's not like getting your drivers license.

Very odd, no offesnse but you must not be from the mortgage industry.

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Tom in Campbell, California

64 months ago

I was a consumer loan underwriter in automobile financing for three years, until the company I worked for laid me off. Now I'd like to get into mortgage underwriting, and I have no clue as to how to get myself properly trained and certified. I saw some online training courses on various websites, but are they legit? Please forgive my ignorance...but what does "DE" certification mean? What's the best way for me to get myself into the mortgage underwriting industry? I appreciate

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Oceans11 in South OC, California

64 months ago

Hey Tom, I did the same thing back in the mid 90's. I worked for CPS, Triad, Americredit, Aegis even Onyx. I was a Credit Officer or sometimes called Loan Officer but it was basically an underwriter approving or declining loans on the auto side.

DE means Direct Endorsement & it's a Certification given to certified FHA Underwriters. You have to have extensive residential underwriting background AND most importantly you have to be sponsored by your employer whether it's a bank or lender.

Next, most of these lenders/banks won't hire someone to sponsor because it costs them money to hire & train & they'd rather train & sponsor someone already in house & even if they do that, that person would have to have a decent amount of Mortgage Underwriting background.

The path you may have to take is becoming a processor first at least 1 year. It's going to be difficult because as you are aware mortgage lending positions especially underwriting has become almost non existent. You'll see small bursts of companies hiring for Conventional Underwriter but they all want extensive depth.

Most of us out of work underwriters have been pleading with companies to train & get us Certified as government FHA/VA DE certified underwriters but it's a no win situation. There is no school to speak of in my eyes that can actually "land you a job" in underwriting. It's all about getting your foot in the door & the quickest way to do that is to become a processor first & learn the business. Learn the documentation, learn how the front end the middle process & back end works.

There's no short cut & if there was, even back in the early days, those times are all gone!

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Tom in Campbell, California

64 months ago

Thanks Oceans11 for the insight! I'm trying to stay positive and keep an open mind in regard to my next career move. Good luck to everyone here on your job search!

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Oceans11 in South OC, California

63 months ago

Tom in Campbell, California said: Thanks Oceans11 for the insight! I'm trying to stay positive and keep an open mind in regard to my next career move. Good luck to everyone here on your job search!

No problem. Good Luck!

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StayAtHomeDE in LBI, New Jersey

63 months ago

I have been reading the posts and find it sad that the underwriter jobs are scarse. I am trying to get back into the industry, I have 15 years plus experience in mortgages including FHA/VA and I am a DE underwriter. Because I have a 10 year gap of employment (I stayed home to raise my children) it is hard to get back into the business even though I am DE already. How I got my designation was this: I worked for a company back in the day that was very big on sponsoring underwriters to get trained for FHA & VA. I had to travel to Atlanta Georgia for a two day gruling seminar on how to do FHA loans. One day was for the credit part and the other day was for the appraisal part. At the end of the seminar you took a test and got your DE Chums# from the government. So I got trained the right way, not long after that lenders were allowed to get an underwriter a chums# without any formal training so there are alot of DE underwriters out there that haven't even underwriten one FHA loan. Kind of annoying to a fulling trained underwriter like me when trying to find a job. But if you don't know what you are doing the company will find out soon enough when the loans get rejected by FHA. You can search the internet for the FHA manuals to start studing the rules. 4155 is the credit manual. You can even print the manuals out. There is alot of details involved in FHA loans and I agree if you learn by processing them first it helps because you will learn what the underwriters will ask for and learn all the forms that need to be signed and loan calculations and such. I think any seminar you can find even if they charge you money, it is a good investment.

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benny in Houston, Texas

57 months ago

StayAtHomeDE in LBI, New Jersey said: I have been reading the posts and find it sad that the underwriter jobs are scarse. I am trying to get back into the industry, I have 15 years plus experience in mortgages including FHA/VA and I am a DE underwriter. Because I have a 10 year gap of employment (I stayed home to raise my children) it is hard to get back into the business even though I am DE already. How I got my designation was this: I worked for a company back in the day that was very big on sponsoring underwriters to get trained for FHA & VA. I had to travel to Atlanta Georgia for a two day gruling seminar on how to do FHA loans. One day was for the credit part and the other day was for the appraisal part. At the end of the seminar you took a test and got your DE Chums# from the government. So I got trained the right way, not long after that lenders were allowed to get an underwriter a chums# without any formal training so there are alot of DE underwriters out there that haven't even underwriten one FHA loan. Kind of annoying to a fulling trained underwriter like me when trying to find a job. But if you don't know what you are doing the company will find out soon enough when the loans get rejected by FHA. You can search the internet for the FHA manuals to start studing the rules. 4155 is the credit manual. You can even print the manuals out. There is alot of details involved in FHA loans and I agree if you learn by processing them first it helps because you will learn what the underwriters will ask for and learn all the forms that need to be signed and loan calculations and such. I think any seminar you can find even if they charge you money, it is a good investment.

I were a FHA underwriter from 1999 to 2000. And I were assigned a DE CHUM# but could not remember the CHUM# now. My question is , does the CHUM# stay with you or you loss it once you don't underwrite FHA loan anymore. If CHUM# stay with you , how do you recover fom HUD?

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Jouri in Bronx, New York

53 months ago

Benny - Your number stays with you. If you call the FHA Resource Center and ask for information on reinstating your Chums#. They will get the information to the appropriate dept, who will email you requesting additional information. Good Luck.

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Tom b in Bradenton, Florida

48 months ago

Hello out there Im a Lic. Mortgage Broker and been in the Biz for 14 years from title compainies to settlement officer and now mort. brokering for like 5 years now and I fell burnt out. I was wondering if going into the underwriter world would be a good idea. Do you know what I would have to do to get a job as a mortgage underwriter. Thanks

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Shawna Nguyen in Pompano Beach, Florida

48 months ago

Looking for inhouse DE Certified FHA underwriters in Ann Arbor, MI is anyone in that are in need of employment.

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C.A. in Apollo, Pennsylvania

46 months ago

Tom b in Bradenton, Florida said: Hello out there Im a Lic. Mortgage Broker and been in the Biz for 14 years from title compainies to settlement officer and now mort. brokering for like 5 years now and I fell burnt out. I was wondering if going into the underwriter world would be a good idea. Do you know what I would have to do to get a job as a mortgage underwriter. Thanks

I have 16 years experience underwriting conventional and FHA, but my DE Endorsement expired and it's too late to register my DE number for a CHUMS. I need a new FHA broker to nominate me for a CHUMS number. I'll underwrite/process/whatever for you for free for a month if you will nominate me for my CHUMS?

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Eric in Boston, Massachusetts

45 months ago

Hi Everyone,

It seems that the switch to government loans calls for the government to step up and designate underwriters again since the private lending institutions aren't doing a good job in supplying the market. As a recruiter, I too become frustrated with the Managers who are out of touch with the job market and want all certifications and are not willing to pay the price for a limited supply. If you have a job in underwriting right now, you have a lot of chances to not only make more money, but to be promoted. For those that are unemployed, chances are you will continued to be looked over by the banks. Sorry... I was unemployed for a while too and it irked me as time passed and I was still unemployed.

In either case, I work for SunTrust and we are in need of underwriters. We generally want to see people who have not been out of work for more than a year (even if you have been out for longer, you can send me a copy of your resume). FHA/VA/Rural Housing experience is preferred, but not necessary for all positions.

We have multiple openings in Atlanta, Richmond and Orlando... please send me your resume and I'll be happy to look at it: eric.livingston@barnesrecruiting.com

Good Luck to Everyone in their search!

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Sarah B

44 months ago

FHA did train underwriters and to obtain your DE you had to underwrite 30 cases sent to HUD for them to reviewed line by line , once you had your DE, FHA monitor you and graded you if you had too many 'poor' grade - your designation could be pulled.

Also, to be accepted you had to submit a resume with at minimum of 5 years experience in underwriting/processing.

If FHA did this today, 75% of you would not pass, even though they have try to make their guides simple for the new 'underwriters' most of you are fallout from the sub-prime, whom used to look down their noses at us government underwriters.

Sorry, but that was how it used to be. Incidently, we are seeking the same positions as you are and we are having a tough time.

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Ed in Irvine, California

44 months ago

Sarah, I believe what Eric is getting at is that the process of trying to get your DE under the current system is just not efficient. In fact it never was but when you had the govy control the process there was at least an "open environment" & it was open to ALL who could actually pass the tests & test case period.

Right now trying to get your DE literally boils down to who you know not "what you know". This is dangerous because now people are being chosen not for skills but how well they can sell themselves & last time I looked, I'm not a salesman, that's why I went into Operations, is to stay the hell away from sales (no offense to sales in any way, it's jut not me).

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wanda in Florida

21 months ago

Jouri in Bronx, New York said: Benny - Your number stays with you. If you call the FHA Resource Center and ask for information on reinstating your Chums#. They will get the information to the appropriate dept, who will email you requesting additional information. Good Luck.

Thanks Jouri. I have a Chums #, but have not been active in loan underwriter for several years, but have been involved in the title insurance business doing short sales, and standard purchases. I will call the FHA Resource Center and get my activation going again. I have steadily stayed on top of all underwriting guidelines and did an audit with BOA on their foreclosure files and had to re-underwrite those loans for their decisions. So I have recent experience, but just auditing FHA/VA loans for QC.

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TAMMIE DASILVA in Magnolia, New Jersey

4 months ago

I found this interesting link on HUD's website. I've included the website below. See the link under Events and Training on the right side. I'm not even sure it will be available to the public or only to lenders who can sign on to their website but I'm definitely going to keep my eye on this as someone who wants to advance my underwriting authority into the FHA arena. I hope you find it helpful.

portal.hud.gov/hudportal/HUD?src=/groups/lenders

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TAMMIE DASILVA in Magnolia, New Jersey

4 months ago

I found more help on FHA's website. There are training webinar's available. No certifications obviously but at least you are getting the information/training directly from HUD. I found this very helpful. Wish I'd seen this a long time ago. (And it's free!!)
I've included the web address below:

portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/events/sfh_webinars

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Oceans11 in South OC, California

4 months ago

TAMMIE DASILVA in Magnolia, New Jersey said: I found more help on FHA's website. There are training webinar's available. No certifications obviously but at least you are getting the information/training directly from HUD. I found this very helpful. Wish I'd seen this a long time ago. (And it's free!!)
I've included the web address below:

portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/events/sfh_webinars

Thanks Tammie I created this post a long time ago in the middle of the financial crisis & there was a lot of frustration and from what I'm reading after my initial posts and replies a lot of snubbing from those who obviously never suffered from the downturn. I honestly don't see how "some" of these posters had the nerve to reply with the attitude as though all of us looking to get into FHA were the direct problem with the industry as a whole or that WE somehow caused the financial crisis! Incredible!!

Anyway thanks for the info but many lenders now due to exactly what I predicted in my post and subsequent replies have had to start training non DE certified experienced industry underwriters to get them their DE CHUMS! I benefited from this but this could have been such a more easier process and more lucrative had FHA just opened up a few schools across the nation.

So to Cindy who posted a reply years ago........in your face, I obtained my DE!!!

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