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Learn how to get FHA approval with a sponsor!
How to Become an FHA-Approved Lender
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Summary of FHA Lender Approval Requirements
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Loan Correspondent (Mini-Eagle)
- Form HUD-11701
- Copy of State License
- Pictures of facilities, floor plan, certification that facilities comply with FHA requirements. Photos must be of the
inside and outside of facility. Photos must display the company name on door, directory or an outside sign.
- Certified (Original) Audited financial statement with a computation of adjusted net worth (must be at least $63,000.
20% of assets must be liquid) Financials cannot be over 1 year old.
- Original Residential Mortgage Credit Reports on senior officers and all persons having 25% or more ownership interest.
Business Credit Report or Dunn & Bradstreet on applicant. (no copies)
- Resume of Senior Corporate Official designated to handle FHA affairs (must show at least 3 years of experience in loan origination)
- Funding Letter from initial sponsor
- Quality Control Plan
- Sanctions Letter (Certification that lender has not been sanctioned.)
- $1,000.00 Fee (non-refundable)
See the
FHA Title II Mortgagee Approval Handbook 4060.1, Rev-2 for full details.
Contact us to learn how Quality Mortgage Services can help you.
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