Does HUD Approval as a Correspondent or Non-Supervised Mortgagee
Exempt a Lender or Broker from the Mortgage Licensing Requirements of the States listed below?
Revised 1/14/04 HUD Approved
HUD Approved Non-Supervised
STATE Mortgage License Correspondent Lender Mortgagee
1 AL Mortgage Lender Yes but AL Approved Area Required Yes but AL Approved Area Required
2 AR Mortgage Company NO NO
3 HI Mortgage Lender Yes (as foreign lender) but only after receipt of opinion of counsel from licensed HI attorney Yes (as foreign lender) but only after receipt of opinion of counsel from licensed HI attorney
4 KY Mortgage Lender Yes Yes
5 LA Mortgage Lender NO NO
6 MO Mortgage Broker Yes Yes
7 MS Mortgage Lender Yes with Registration but MS Approved Area Required Yes but MS Approved Area Required
8 OH Mortgage Broker NO NO
9 OK Mortgage Broker Yes but only if deal w/ HUD loans exclusively Yes but only if deal w/ HUD loans exclusively
10 TN Mortgage Lender Yes with Registration Yes with Registration
11 TX Mortgage Broker No Yes (only if in HUD Direct Endorsement Program)
12 NC Mortgage Banker No No
13 WV Mortgage Lender Yes but only if deal w/ HUD loans exclusively Yes but only if deal w/ HUD loans exclusively
14 SC Mortgage Broker Yes but only if deal w/ HUD loans exclusively Yes but only if deal w/ HUD loans exclusively
15 IN Mortgage Broker Yes Yes