American Mortgage Licensing
FHA License - HUD Non-Supervised


 

FHA License - HUD Non-Supervised

American Mortgage Licensing (AML) provides complete service that will grant your company an expedited FHA approval. We handle the entire licensing process to ensure that your company's FHA application is in compliance with HUD's requirements and our services allow you to focus on your business and let the experts take care of the licensing. Once you obtain your initial FHA approval, AM Licensing can provide discounted services that allow you to add various states that are exempt from licensing requirements simply because your company is FHA/HUD approved!

How Does AML's FHA Process Work ?

  • Manage the entire licensing process to ensure that everything is complete and expedited
  • Collect all necessary information on the company and principal officers
  • Complete the FHA application
  • Provide quotes from CPA's for your company's audited financials
  • Review CPA's audit to ensure that it will be approved by HUD
  • Prepare all necessary certifications
  • Prepare FHA approved Quality Control Plan - This saves you $$$$ in attorney fees
  • Collect documents from your company (credit reports, resume, pictures of your office)
  • Provide a Sponsored Lender or work with your preferred lender
  • Correspond with HUD until your application is approved.

To obtain your HUD/FHA License through American Mortgage Licensing your fee would be $1,295 for AML's services and this includes an FHA approved Quality Control Plan. The fee paid directly to HUD is an additional $1,000 and is not due until the application is ready to be filed.

What are the requirements to obtain an FHA Broker License?

In order to obtain a loan correspondent license (the equivalent of a mortgage broker), you must meet the following:

  • Have a corporation, partnership or LLC (2 members or more for LLC/Partnerships)
  • Senior officer with at least 3 years or more mortgage experience (Does not have to be FHA experience)
  • Commercially zoned office
  • Letter from a sponsoring lender (We assist in obtaining this letter from your lender)
  • Audited Financial Statement showing $63,000 in company net worth (we assist with quotes from CPAs)

What are the Fees?

American Mortgage Licensing Service Fee $1,295
FHA Filing Fees $1,000

How do I Start the Process?

To begin your project immediately, contact American Mortgage Licensing at 469.688.8441, or use the form below below to request a proposal. We also license brokers and lenders in all 50 states and the US Virgin Islands and Puerto Rico.

We look forward to getting your company FHA/HUD approved. Start the approval process today to ensure that you no longer lose your customers to the competition and make sure your company is 100% compliant.

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