Loan Programs

Inlanta Gets FHA Full Eagle, Adds In-house Underwriting

By Brad Finkelstein

WAUKESHA, WI -Inlanta Mortgage, a mortgage banker and broker here, has added in-house underwriting to its list of support services for loan officers and partner branches.

Randy Burgei, who has been approved by the Federal Housing Administration to be a direct endorsement underwriter, has joined the company to develop its in-house underwriting, insuring and shipping departments. He also helped the company achieve "full Eagle" status, meaning Inlanta will be able to originate and sell FHA-insured mortgages without prior approval from a sponsoring lender.

With direct endorsement status, the company can streamline the application process and provide greater flexibility for originators and borrowers.

As a result being adding in-house underwriting services Inlanta Mortgage is able to take advantage of improved pricing from many of its investors. Also beneficial is the familiarity and consistency gained by working solely with an in-house underwriting department, which is something not often achieved in working with outside firms. This added service is also helpful in recruiting mortgage professionals, who are looking to acquire the benefits of in-house underwriting.

Increased control is another reason Inlanta Mortgage added an in-house underwriter. Accordingly, and with careful management, it can control its own turn times. The company will also benefit from control over individual branch file quality and the ability to provide training to loan officers on a regular basis, therefore allowing it to close more loans.

The addition of in-house underwriting also brings many opportunities for the company. This includes the option to add FHA lenders who do not currently work under the sponsorship plans. Furthermore, with in-house underwriting, there are additional execution options for Veterans Affairs and U.S. Department of Agriculture loans. Inlanta Mortgage now can offer third party origination services to banks and credit unions.