What are the requirements to become a FHA approved Supervised Loan Correspondent?
Supervised Loan Correspondent Application Package Checklist Chapter and Paragraph references in this checklist are to parts of the Title II Mortgagee Approval Handbook 4060.1, Rev-2 which can be downloaded: http://www.hud.gov/offices/adm/hudclips/handbooks/hsgh/4060.1/40601handbookHSGH.doc ____ FHA Lender Approval Application Form 11701 (that can be downloaded at: http://www.ginniemae.gov/guide/pdf/11701.pdf) that is correctly filled out, signed and dated. Common Errors in Application Form for Nonsupervised Loan Correspondent Approval Section A _____ Items 7, 8, 12 and/or 13 not filled in. _____ Item 9: Can only check FHA Title I and FHA Title II boxes _____ Item 11: Did not check Mortgage Co./Finance Co. Box _____ Item 14: Did not include SSN and TAX ID numbers which FHA uses to verify no officer or owner is debarred or suspended by any Federal government agency or has defaulted on any government assisted loan (includes FHA, VA and student loans) Paragraph 2 10 _____ Item 14: Checked
