---
kind: "section"
citation: "24 C.F.R. § 203.1"
title: "24"
number: "203.1"
heading: "Underwriting procedures."
url: "https://uscodex.org/cfr/24/203.1"
---

# §203.1. Underwriting procedures.


The three underwriting procedures for single family mortgages are:

- (a) **Direct Endorsement.** This procedure, which is described in [§ 203.5](/cfr/24/203.5.md), is available for mortgagees that are eligible under [§ 203.3](/cfr/24/203.3.md).
- (b) **Lender insurance.** This procedure, which is described in [§ 203.6](/cfr/24/203.6.md), is available for mortgagees that are eligible for the Direct Endorsement program under [§ 203.5](/cfr/24/203.5.md), and that are also approved according to [§ 203.4](/cfr/24/203.4.md).
- (c) **Issuing of commitments through HUD offices.** Processing through HUD offices as described in [§ 203.7](/cfr/24/203.7.md), with issuance of commitments, is available only for mortgages that are not eligible for Direct Endorsement processing under [§ 203.5(b)](/cfr/24/203.5.md?p=b) or to the extent required in [§ 203.3(b)(4)](/cfr/24/203.3.md?p=b-4), [§ 203.3(d)(1)](/cfr/24/203.3.md?p=d-1), or as determined by the Secretary.

## Notes

### Amendments

[62 FR 30225, June 2, 1997]

### Authority

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).

### Source

Source: 36 FR 24508, Dec. 22, 1971, unless otherwise noted.

### Amendments

[62 FR 30225, June 2, 1997]