Here are the
most common licensing issues facing
new FHA license applicants.
For a complete list of FHA licensing requirements,
consult the applicable FHA Handbooks.
Better yet - call us to take the mystery out of FHA
financial statements (no more than 12 months old).
Company CPA-audited net
worth (initial approval):
(Subject to additional FHA
net worth and liquid asset rules):
$63,000* (20% liquid asset requirement)
$250,000 (20% liquid asset requirement**)
*Loan Correspondent Branch
Offices (add $25,000 per branch office)
**Lesser of 20% of net
worth, or $100,000.
Warehouse line of credit (NSM’s
No sole proprietors.
LLC member restrictions.
Commercial office space.
single-employment, principal corporate officer.
restrictions. (DRE brokers – pay attention!)
Background checks (credit,
No “Net Branching”.
FHA IS A
- NOT A STATE
MORTGAGE LICENSE (REGARDLESS OF YOUR FHA-APPROVED LENDING AREAS)!