Basic requirements to become a THDA Originating Agent
A THDA-approved lender is an independent contractor authorized to originate THDA mortgage loans. To become a THDA-approved lender, you must complete and submit the entire Application to Become an Originating Agent and submit with required documents listed on the Application Submission Checklist.
A THDA-approved lender must:
- Have a minimum net worth of $1,000,000.
- Be able to originate, process, underwrite and fund their own loans at closing.
A THDA-approved lender has the following duties and responsibilities:
- Establish and maintain eligibility to act as an originating agent for THDA.
- Originate, process and close THDA mortgage loans.
- Protect THDA's interests with respect to each THDA mortgage loan.
- Ensure that all personnel with any responsibility for THDA mortgage loans are familiar with and comply, in all respects, with all THDA requirements and procedures.
- Hold all funds or documents received in connection with THDA mortgage loans in trust for the sole benefit of THDA and release or disburse such funds or documents.
- Deliver all required documents after THDA mortgage loans are closed.
- Ensure proper and efficient originating, processing and closing of THDA mortgage loans and delivery of all required documents and all other services necessary.
- Assist unsuccessful applicants for THDA funding in identifying other potential sources for mortgage financing.
A THDA-approved lender may charge the following fees in connection with a THDA mortgage loan:
- An application fee in an amount not to exceed the amount set forth in the OA Guide.
- An originating fee to be imposed at the closing of a THDA mortgage moan in an amount not to exceed the amount set forth in the OA Guide.
- Other fees only as expressly authorized in the OA Guide.
THDA Approved Lender Application Forms
Agreement -- Standard Version
Agreement -- Parent Version (includes Parent Company signature)
For more information, please call 615-815-2100 or contact our mortgage specialists at firstname.lastname@example.org.