|
|
Summary of FHA Lender Approval
Requirements
See the
FHA Title
II Mortgagee Approval Handbook 4060.1, Rev-2
for full details.
Loan Correspondent (Mini-Eagle)
- HUD Form 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)
Get
a FHA mortgage quality control plan |
|
|
|
