General World News

Open Mortgage has FHA direct endorsement authority terminated in Iowa

The U.S. Department of Housing and Urban Development (HUD) has terminated the Federal Housing Administration (FHA) direct endorsement approval for Open Mortgage in Iowa. 

“HUD placed Open Mortgage on credit watch for the Des Moines HOC [homeownership center], which only impacts our loans in Iowa,” Christopher D’Auria, president and CEO of Open Mortgage, told HousingWire.  

“Our direct endorsement authority remains unchanged outside of that HOC. We have worked with HUD to address the issues associated with this situation and are working to resolve so that we can reapply for authority details ⇒

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