Broker Requirements

1.       Must possess a valid Mortgage Broker’s license per your state’s requirements

          (California brokers please note: we do not accept CFL licenses)

2.       Must have a clean license record with your licensing regulator

          (i.e. No restrictions, no stays, no litigations or investigations pending)

3.       Must have a minimum FICO score of 620 or better

4.       Business must be in operation for 2 or more years

Items Needed for Broker Approval

1.       Completed and signed Broker Application and Checklist

2.       Completed and signed Broker Agreement (unaltered)

3.       Completed and signed FHA Addendum (if FHA approved)

4.       Copy of HUD approval letter (if FHA approved)

5.       Copy of current broker license

6.       Copy of broker of record’s resume

7.       Copy of Articles of Incorporation (for a Corporation)

8.       Copy of Articles of Organization (for a LLC)

9.       Copy of Partnership Agreement (for a partnership)

We do not require annual financial statements, balance sheets, etc. Also, we do not require a full credit report, nor do we run a full credit report. Instead, a third party reporting agency is used to do a “Soft-hit” report to pull your FICO only! (This will never “hit” your credit report.)