24 CFR § 203.1 - Underwriting procedures.
---
identifier: "/us/cfr/t24/s203.1"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 203.1 - Underwriting procedures."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "203.1"
section_name: "Underwriting procedures."
chapter_name: "OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
subchapter_number: "B"
subchapter_name: "MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES"
part_number: "203"
part_name: "SINGLE FAMILY MORTGAGE INSURANCE"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1707, 1709, 1710, 1715b, 1715z-16, 1715u, and 1715z-21; 15 U.S.C. 1639c; 42 U.S.C. 3535(d)."
regulatory_source: "36 FR 24508, Dec. 22, 1971, unless otherwise noted."
cfr_part: "203"
---
# 203.1 Underwriting procedures.
The three underwriting procedures for single family mortgages are:
(a) *Direct Endorsement.* This procedure, which is described in § 203.5, is available for mortgagees that are eligible under § 203.3.
(b) *Lender insurance.* This procedure, which is described in § 203.6, is available for mortgagees that are eligible for the Direct Endorsement program under § 203.5, and that are also approved according to § 203.4.
(c) *Issuing of commitments through HUD offices.* Processing through HUD offices as described in § 203.7, with issuance of commitments, is available only for mortgages that are not eligible for Direct Endorsement processing under § 203.5(b) or to the extent required in § 203.3(b)(4), § 203.3(d)(1), or as determined by the Secretary.
[62 FR 30225, June 2, 1997]