HUD 92001-A Application for FHA Lender Approval

Application for FHA Lender Approval							OMB Approval Numbers 2502-0005 (exp. ______)
New FHA Lender Approval Sections 1, 2, 3, 5, 6 & &				Conversion of FHA Approval Sections 1, 4, 5, 6 & 7
Section 1. Information Required From All Applicants
Name      							TAX ID      
DBA (if applicable)      					Date Incorporated, Organized or Chartered      
Geographic Address      			Mailing Address (if different)      							Fiscal Year End (Month):      
County:      			Phone:     				FAX:      
Web Site:      			eMail:      
Contact Person for Application:	Name      		eMail      				Phone      		FAX     
All Applicants must provide the information below for officers, along with owners having a 25% or greater ownership interest in the applicant. Please indicate which officer(s) are in charge of the day-to-day operations of the applicant.
Officer/Owner Name		Title (If Applicable)				Officer in Charge?		Social Security or TAX ID Number			Percent Ownership
     		     						     			     
     		     						     			     
     		     						     			     
     		     						     			     
     		     						     			     
     		     						     			     

History and Business Status Questions

Please check the appropriate answer for each question below. If any of the questions require a "Yes" answer, provide an explanation on a separate sheet.

Yes or No

1. Is the applicant the subject of any assessments, or contingent liabilities not disclosed in its financial statements?

Yes or No

2. Has the applicant or any of its principals, officers, individuals serving on the Board of Directors, or individuals acting as authorized signatories, ever been, or are any presently suspended, terminated, debarred, sanctioned, fined, convicted, denied approval, or refused a license by any Federal, State, or local government agency, or a government-related entity, where the action is related to the responsibilities that are commensurate with those of the financial services industry?

Yes or No

3. Is the applicant or any of it principals, officers, individuals serving on its Board of Directors, individuals acting as authorized signatories, or employees currently involved in a proceeding or subject to an investigation that could result, or has resulted, in suspension, fine, or disbarment by a Federal, State, or local government agency, conviction in a criminal matter, bankruptcy or denial of fidelity insurance or mortgagee’s errors and omissions insurance coverage?

Yes or No

4. Have any mortgage insurance companies, secondary marketing agencies or warehouse lenders, or broker/dealers denied the applicant approval in the three previous fiscal years being reported?

Provide the date and reasons for each denial.

Yes or No

5. Has the applicant been subject to any past or present action by HUD, VA, Fannie Mae, Freddie Mac, or other government-related entity to indemnify the entity against loss?

Yes or No

6. Is the applicant currently subject to regulatory or supervisory action by any regulatory agency? Regulatory actions include, but are not limited to, supervisory agreements, cease and desist orders, notices of determination, memorandum of understanding, unresolved audits, and investigations. Supervisory actions include, but are not limited to, the appointment of a trustee, conservator, or managing agent.

Yes or No

7. Has the applicant or any owner, principal, or managing executive been involved, through ownership or otherwise, with a previously defaulted Ginnie Mae issuer(s)?

Section 2. Type of FHA Lender Approval Being Requested
Type of Applicant (Check only one box)	FHA Lender Type (Check only one box)	Participation (Check as appropriate)		FHA Loan Programs (Check as appropriate)
Mortgage Broker	Nonsupervised Loan Correspondent	Originator		Title II Single Family (203b, 203k Rehab,234c Condo,255 HECM Reverse Mortgage, etc.) Title II Multifamily (Rental Housing, Nursing Homes, Hospitals, etc.) Title I (Property Improvement and Manufactured Home Loans)
Mortgage Lender Mortgage Banker Correspondent Lender Insurance Company	Nonsupervised Mortgagee Nonsupervised Loan Correspondent Investing Mortgagee	Originator Underwriter Servicer Holder
Bank Saving Bank Savings and Loan Credit Union	Supervised Loan Correspondent Supervised Mortgagee Investing Mortgagee	Originator Underwriter Servicer Holder
Federal Agency State or Local Agency	Government Mortgagee Investing Mortgagee	Originator Underwriter Servicer Holder
For loan correspondent applicants, provide Sponsor’s Home Office FHA Lender ID Number (10 digits)      			If applicant was previously a FHA approved lender:
			Title II ID No.      		Title I ID No.      

Section 3 Check Type of FHA Approval Being Requested
Supplemental information required to be submitted with form HUD-11701 for verifying that an applicant meets FHA requirements for each type of FHA lender approval. References are to parts of the Title II Mortgagee Approval Handbook 4060.1, Rev-2 available at: http://hudclips.org/sub_nonhud/cgi/pdfforms/40601HB.doc Check the appropriate box to indicate that each required document has been included with the application package		Nonsupervised Loan Correspondent	Nonsupervised Mortgagee	Supervised Mortgagee	Supervised Loan Correspondent	Government Mortgagee	Investing Mortgagee
1	Cover Letter from Applicant (Stating what type of FHA lender approval is being requested. Please include TAX ID in cover letter.)
2	Copy of nonrefundable $1,000 Application Fee Check: (Made payable to HUD and mailed to the HUD/FHA lockbox -- PO Box 198619, Atlanta, GA 30384.) Paragraph 2-7.
3	Copy of State License or Registration: (or certification by senior official of applicant that the applicant is exempt from State license or registration). Paragraphs 2-3 and 3-2(A)7
4	State DBA Approval, If applicable (include copy of State certificate for use of the DBA, Fictitious or Assumed Name) Paragraphs 2-4 and 3-2(A)8
5	Commercial Credit or Dun & Bradstreet Business Report on Applicant (include explanation of all negative items) Paragraph 3-2(A)4
6	Audited Financial Report from Nonsupervised Applicant (CPA issued audit less than 12 months old with net worth calculation of at least $63,000 for loan correspondent and $250,000 for mortgagee with at least 20% liquidity) Paragraphs2-5, 2-6 and 3-2(A)6
7	Copy of LLC Articles of Organization and Operating Agreement, if applicable (must have 2 members, minimum 10 year term and provide for succession) Paragraphs 2-2(C) and 3-3(B)
8	Partnership Agreement Information, if applicable (names and TAX IDs of general partners, names and SSNs of managing general partner’s officers and directors, evidence that principal business activity of managing general partner meets FHA requirements and minimum of 10 year term) Paragraphs 2-2(B) and 3-3(A)
9	Pictures of office facilities (internal, external and signage), a floor plan and certification that facilities meet FHA requirements. (Must be in separate commercial space.) Paragraphs 2-11(A) and 3-2(A)9
11	Funding Program: (Evidence of a minimum of $1 Million of Funding. A letter of credit is acceptable. ) Paragraph 3-2(A)13a & 3-2(A)13b
12	Sanctions Letter. (A certification by senior officer of applicant that neither the applicant, nor any of its officers or owners have been denied licensing nor been sanctioned, suspended or debarred by any Government or Regulatory Agency) Paragraphs 2-10 & 3-2(A)14
13	Quality Control Plan. (Must be plan of applicant, tailored to applicant’s duties with regard to FHA loans. Detailed requirements are in Chapter 7 but it cannot be a copy of this chapter since it explains what the Quality Control Plan must cover and is a guide. Paragraphs 7-1 through 7-12, as appropriate
14	Copy of Fidelity Bond. $300,000 minimum covering applicant’s employees and agents. HUD does not have to be the beneficiary. Paragraph 3-2(A)10
15	Copy of Errors & Omissions Insurance. $300,000 minimum covering applicant’s employees and agents. HUD does not have to be the beneficiary. Paragraph 3-2(A)11
16	Resume(s). Must show that one or more of the senior officer(s) of the applicant has at least 3 years experience in the mortgage operations that the applicant wishes to participate in. Paragraph 3-2(A)5
17	Credit Reports on Principals. Provide Tri-Merged or Residential Credit Reports on all officers and any owners with 25% or more ownership. Provide written explanations for all negative items. Paragraph 3-2(A)4
18	Combination Sponsor/Funding Letter. A Letter from a FHA approved DE Mortgagee stating it will fund any FHA loans originated by the applicant that the DE Mortgagee underwrites. An applicant with its own funding program can provide evidence of a minimum of $1 million of funding. Paragraphs 3-2(A)1, 3-2(A)13

Section 4. Application to Convert Existing FHA Lender Approval Type
Title II ID (10 Digits)       Title I ID (10 Digits)      		Current Lender Type. Check One Box Nonsupervised Loan Correspondent Nonsupervised Mortgagee Supervised Loan Correspondent Supervised Mortgagee
Check Type of Conversion Being Requested
Supplemental information required to be submitted with form HUD-11701 for verifying that an applicant meets FHA requirements for the conversion being requested. References are to parts of the Title II Mortgagee Approval Handbook 4060.1, Rev-2 available at: http://hudclips.org/sub_nonhud/cgi/pdfforms/40601HB.doc Check the appropriate box to indicate that each required document has been included with the application package			To Nonsupervised Loan Correspondent	To Nonsupervised Mortgagee	To Supervised Mortgagee	To Supervised Loan Correspondent	To Investing Mortgagee
1	Cover Letter from Applicant (Stating what type of conversion is being requested. Please include your FHA Lender ID Number(s) in cover letter)
2	Copy of Nonrefundable $300 Conversion Fee Check: (Made payable to HUD and mailed to the HUD/FHA lockbox -- PO Box 198619, Atlanta, GA 30384.) Paragraph 2-7.
3	Copy of most recent audited financial statements. If these are more than 6 months old, include management certified financial statements and computation of adjusted net worth of at least $250,000 with at least 20% liquidity. Paragraph 6-16(E)
4	Funding Program: (Evidence of a minimum of $1 Million of Funding. A letter of credit is acceptable. ) Paragraphs 3-2(A)13a, 3-2(A)13b and 6-16
5	Copy of Fidelity Bond. $300,000 minimum covering applicant’s employees and agents. HUD does not have to be the beneficiary. Paragraphs 3-2(A)10 & 6-16
6	Copy of Errors & Omissions Insurance. $300,000 minimum covering applicant’s employees and agents. HUD does not have to be the beneficiary. Paragraphs 3-2(A)11 & 6-16
7	Combination Sponsor/Funding Letter. A Letter from a FHA approved DE Mortgagee stating it will fund any FHA loans originated by the applicant that the DE Mortgagee underwrites. An applicant with its own funding program can provide evidence of a minimum of $1 million of funding. Paragraphs 3-2(A)1, 3-2(A)13 and 6-16
8	Certification that all FHA Insured Mortgages held or serviced have been transferred to another FHA mortgagee that is approved to hold and service FHA insured mortgages. Paragraph 6-16
If the conversion being requested is from supervised to nonsupervised lender or conversion of an existing investing lender, please attached all items listed for the approval type being requested as listed in section 3 of this form. Paragraphs 6-16(C) and 6-16(G)

Section 5 Certification by All Applicants
The undersigned agrees I am authorized to execute this application on behalf of the applicant and certify that the applicant, upon being approved as a FHA lender, will comply with the all provisions of the HUD regulations and the requirements of the Secretary of HUD with regard to using and maintaining its FHA lender approval.
Name:      	Title:       (must be President, Vice President, Partner or Manager Partner)
Signature:____________________________________	Date:_____________________________________

Section 6 Payment of FHA Lender Application Fee (Nonrefundable)
Fee must be paid by certified or official check payable to: Department of Housing and Urban Development. Paragraph 2-7.	$1,000 New Approval Fee
	$ 300 Conversion Fee
Attach the check to a copy of first 4 pages of the applicant’s application form 11701(without any exhibits) and mail it to HUD’s Lockbox address shown to the right.	Dept of HUD P.O. Box 198619 Atlanta, GA 30384
Do not mail your full application and its exhibits to this address because it will delay its receipt in Washington, DC by at least 30 days. The address in Atlanta is for fee payment only.

Section 7: Submission of Application Form 92001-A and Exhibits to FHA for Processing and Approval
Send the executed application form 92001-A and all required exhibits to one of the following addresses.
US Mail: Dept of HUD FHA Lender Approval & Recertification Division 451 7th Street, S.W., Room B133/P3214 Washington, DC 20410	Overnight Delivery Dept of HUD FHA Lender Approval & Recertification Division 490 L’Enfant Plaza East, SW, Suite 3214 Washington, DC 20024

Public Reporting Burden for this collection of information is estimated to average 2.0 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. The information requested on this form is required by 24 CFR Part 202, HUD Handbooks 4060.1, 4700.2. The information collected assists FHA in determining which lenders should be approved to participate in the FHA single and multifamily insurance programs. It is used to help FHA minimize its risk in insuring singlefamily and multifamily mortgages. Applicants are not required to respond to this collection of information unless a currently valid approved OMB control number is displayed on the form.

Privacy Act Statement. Names and Social Security Numbers are requested in order for the Department to obtain positive identification of the applicant’s officers, directors, stockholders and employees who have authority to obligate the applicant. The information requested will be used solely to determine the eligibility of the individuals to participate in the Department’s mortgage insurance programs. The Department is authorized to request this information by Executive Order 9397 and it will not be disclosed outside the Department without prior consent except as required or permitted by law. The Social Security Numbers are provided to HUD on a voluntary basis. Failure to provide this information could cause delay in processing of the applications. While no assurances of confidentiality are pledged to respondents, HUD generally discloses this data only in response to a Freedom of Information Act request.

Form HUD-92001-A (_____)

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