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What is the difference between Title I and Title II lender approvals?

April 26, 2017approvals difference ii Lender title

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What is the difference between Title I and Title II lender approvals?

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Title II approved lenders can participate as a mortgagee or loan correspondent in the FHA Title II loan programs, such as 203(b), 203(k), HEMCs, Condos and Multifamily. Title I approved lenders can participate as a lender or loan correspondent in the two FHA Title I loan programs, — the property improvement loan program (2nd mortgages) and the manufactured housing (mobile) home program (where the home is classified as personal property). Go to http://www.hud.gov/offices/hsg/sfh/ins/singlefamily.cfm for descriptions of the various Title II Single Family and Title I loan programs.