BayCoast Mortgage Company, LLC (www.BayCoastMortgage.com) announces its Federal Housing Administration (FHA) Direct Endorsed Approval, which allows their lenders to meet the high demand for FHA-insured loans, while also making the process of applying more efficient.
Under the Direct Endorsed (DE) program, lenders for FHA-insured loans, such as BayCoast Mortgage Company, underwrite for the FHA directly, rather than the agency itself. These privileges demonstrate the lenders’ ability to review and certify mortgage documents for the FHA. Lenders undergo a two-year application process to become DE lenders.
As a result of the FHA DE Approval, BayCoast Mortgage can offer more competitive interest rates and is capable of increased efficiencies when issuing FHA-insured loans since processing, underwriting and decision-making is now in-house, adding yet another layer to the company’s exceptional customer-centric service.
The designation allows BayCoast Mortgage to assist a broader range of customers in-house. FHA loans often allow for a lower down payment than on other types of mortgages, especially in owner-occupied multi-unit transactions. This approval provides a competitive advantage in BayCoast Mortgage’s market while increasing the level of service to its customers.
“Obtaining FHA Direct Endorsed Approval is a privilege that underscores our qualifications, experience and expertise to underwrite mortgage loans that satisfy FHA requirements,” said Daniel Briand, President & CEO of BayCoast Mortgage.
About BayCoast Mortgage Company, LLC
BayCoast Mortgage Company, LLC is a wholly owned subsidiary of BayCoast Bank, serving MA, RI, CT, NH, PA, NJ, MD, VA, SC, NC and FL, offering a wide variety of home mortgage products including FHA, VA, Conforming Loans and Jumbo Loans. Visit www.BayCoastMortgage.com or call 877-466-2678.
