Lender Qualifications
This is a brief list of requirements to become a UHC Lender. For complete details consult the Part II of the UHC Participation Agreement also available on this web site.
- Maintain at least one fully-staffed mortgage loan origination office in the State.
- Be an FHA-approved mortgagee and have a Direct Endorsement Underwriter on staff.
- Have an adequate warehouse line of credit or other Mortgage Loan funding source.
- Sell annually at least 25 purchase-money loans secured by owner-occupied primary residences in Utah to institutional investors.
- Have financial strength to meet State and Federal regulatory requirements.
- Have adequate insurance and fidelity bond / surety bond coverage.
- Be able to sell a minimum of not less than 4 Utah Housing first mortgage loans in any six consecutive months.
- Be able to comply with FHA post-closing audit review requirements on all UHC loans.
- Complete the application documents.