FHA Licensing Requirements for Non-Supervised Mortgagees
Lynx Licensing staffDecember 15, 2022
Lynx Licensing assists mortgage companies across the United States with FHA licensing.
To obtain an FHA non-supervised mortgagee license, you will need to meet the following general requirements:
1. Be a mortgage lender or correspondent lender that is approved to do business by the state in which you operate.
2. Have at least two years of experience in the mortgage lending industry.
3. Complete the Mortgagee Approval application and submit it to the Federal Housing Administration (FHA), along with the applicable fees.
4. Provide the FHA with financial statements and other required documentation to demonstrate your financial stability and ability to operate as a mortgage lender.
5. Obtain and maintain a surety bond in an amount determined by the FHA.
6. Complete the FHA’s training requirements, which may include completing a course on FHA lending standards and policies.
Once you have met these requirements and your application has been approved, you will be issued an FHA non-supervised mortgagee license. This license will allow you to originate FHA-insured mortgages and participate in FHA lending programs.
It is important to note that the requirements and process for obtaining an FHA non-supervised mortgagee license may vary depending on the state in which you operate. You should contact us for specific information and guidance.