RFA_Lender Application_Fillable_01Mar2023.docx

Application

Application

To apply for approval as an OHCS approved lender, please complete the Application Package and submit with all Attachments and supporting documentation, stacking order is per the Application Checklist. Email the signed and complete package to OHCS.Contracts@hcs.oregon.gov. OHCS will review the application package and verify the information provided.

Questions: Please direct questions are directed to our Single Point of Contact.

Single Point of Contact (SPC): DeAundra Lewelling 725 Summer Street NE Suite B Salem, Oregon 97301-1266 Phone: 971.720.3214 Email: ohcs.contracts@hcs.oregon.gov

Company Information:

If yes, provide Ticker and Exchange:

If yes, provide the published information as listed by IDC Financial Publishing Inc.:

Abbreviated Name:

City, State of Headquarters:

Legal Name: (As it appears in NMLS)

DBA:

Company Liaison for OHCS:

Title:

Liaison Direct Phone:

Liaison Email:

Main Address:

City:

Mailing Address (if different from Main Address):

City:

States Licensed In:

Oregon Branch & Origination Information: (Oregon Brick and Mortar Branch(es) required)

Parent Company Information: (If applicable) Parent Company Name:

Street Address (required):

City:

% of Parent Ownership:

Affiliated Companies:

Affliated Company Name:

DBA:

Relationship:

Type of Business:

Address:

Webpage:

Phone Number:

Owner:

% of Ownership:

Owner email:

Note: In addition to the information above, please complete affiliate questionnaire.

If additional affiliated companies exist, please provide a list in the same format as above.

Supporting Documentation Required Attachments (Follow Application Checklist for order):

1. Formation/Organization (Articles of Incorporation & By‐laws, LLC: Operating Agreement and Articles of Organization, Limited Partnership & LP Agreement, Bank Charter)

2. Oregon Secretary of State registration and associated DBA’s

3. NMLS Licensing information for Main office, Oregon, Oregon Branches and Oregon Originators

Financial Summary:

Fiscal YTD:

FY ending: / /

FY ending: / /

Principle Owners: (list all owners >10%)

Business Owner(s)*

President/CEO*

CFO*

COO*

CTO*

EVP*

Other*

*Indicates Resume Required

Key Managers:

Secondary*

Production*

Underwriting*

Servicing

Quality Control

Legal/Compliance

Investor Delivery

Trailing Documents

Web Administrator

Appraisal Manager

*Indicates Resume Required

Agency/Investor Approvals:

(Y/N)

Fannie Mae

Freddie Mac

Ginnie Mae

FHA

PIH

RHS

VA

Attach Agency Approval letters, if approved by FNMA, FHLMC, FHA, VA, USDA, PIH and/or GNMA and Investor scorecards ‐ (For all investors/lenders dated within 90 days.) Note: Scorecards submitted should represent at least 70% of total production.

Originations:

Identify top state licenses & % of Total Originations for each state State:

State:

State:

State:

Originations by type:

YTD

Retail

TPO

Annual Originations (Previous 2yrs. & YTD):

Conforming

Agency Jumbo

FHA

Section 184

USDA

VA

203K

Jumbo

Other: Non-QM

Other: Commercial

Total:

Mortgage Insurance Relationships: (Attach Delegation Letters)

Provider Information:

Software & Systems Loan Origination Software (LOS) Provider:

Product & Pricing Engine (PPE) Provider:

Hedge Firm:

Compliance Engine Vendor:

MERS ID (Required):

Vendor Management

Appraisal Management

Include AMC Agreement if applicable

Flood Certification

Credit Repository

Tax Transcript Provider

QC Software Provider

QC Outsource Provider

Include QC Outsource contract if applicable

Other

Warehouse Lines of Credit:

Attach verification form, approval letter complete with line amount and covenants and bailee letter for each warehouse line.

Repurchases & Indemnifications:

Repurchases & Indemnifications In the past 12mos.

Repurchases:

Indemnifications:

Outstanding Repurchases:

Booked Loans (non-saleable or severely impaired)

Age of oldest outstanding repurchase:

Note: Please provide a letter of explanation for repurchase including reason and origination date or demand letter from investor.

Insurance & Bonding

Errors & Omissions

Fidelity Bond

Note: Please provide copies.

Disclosures:

With respect to the Applicant, its parent(s), officers, senior management, directors, partners or owners: List any claims and/or litigation in process, convictions (excluding traffic violations), judgments, investigations or supervisory action by a regulator, agency, or any other entity, and any other contingent liabilities not shown in the financial statements. Include the present status and opinion of probable liability.

If any is YES to any of these questions, submit written documentation for the original finding and response or a letter of explanation.

If any is NO to any of these questions, submit written documentation for the original finding and response or a letter of explanation.

Note: OHCS may make reference inquiries and may, at its sole expense, order independent background investigations on the applicant and/or principal officers and may submit the company name and the name of any employee of the company for screening through databases by Mortgage Asset Research Institute (MARI) including the Mortgage Industry Data Exchange (MIDEX). Execution of this application certifies full compliance with the regulatory requirements of the Bank Secrecy Act (BSA), Anti Money Laundering (AML) and Office of Foreign Assets Control (OFAC).

Certification:

We are providing the information set forth in this Application to induce you to approve us to sell closed residential mortgage loans to OHCS. We acknowledge and understand that you will rely on the information set forth in this Application and we represent, warrant and certify that the information set forth in this Application is true, correct and complete. By executing this Application, we authorize you, both before and after you approve our application, to make all inquiries, obtain all information and make all disclosures you deem necessary or advisable to verify the accuracy of the information contained in this Application; discuss with third parties our credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, mode of living, job performance and other job‐related information; and obtain consumer reports, credit reports, business reference reports, criminal background checks, banking information and other reports concerning such topics related to mortgage lending activities as you deem necessary or advisable. We authorize any person or entity, including, without limitation, any consumer reporting agency, law enforcement agency, regulatory agency or financial institution, to give you any information it may have on us, and we authorize you to make all disclosures you deem necessary or desirable to such person and entities concerning your experience with us. Finally, we authorize you to answer questions about your experience with us and to release to others any information that we provide to you or that you separately obtain. As long as a Loan Purchase Agreement remains in force between us and OHCS we will upon request provide you with an updated Prospect Application. This Prospect Application and any other financial or other information that we give you or that you obtain as part of this process or our relationship is your property, and we authorize you to share such credit and other information with any of your affiliates.

Lending Application:

The undersigned and the Applicant each agree to update the information provided to OHCS in connection with this application in the event that any material information provided to OHCS changes in any respect. Information and reports authorized above may be obtained on the business and on the owners and officers who sign this form. The Applicant agrees to indemnify and hold OHCS harmless from and against any and all liabilities, damages, costs and claims resulting directly or indirectly from OHCS’s reliance upon, use of or verification of all such information submitted in connection with this application. For the purpose of becoming an approved lender with OHCS, I (we) certify the above information to be true and correct. The undersigned declares that the foregoing information and all accompanying information are true to the best of their knowledge and belief. OHCS is hereby authorized to obtain verification of information from any source (including character and credit references). The undersigned hereby transfers and grants the right to use all information herein and all accompanying information to OHCS and its agents. All pages of this application including supplements and other information that is provided to OHCS are considered a part of this application, and therefore subject to this agreement.

Legal Name of Applicant

Typed Name and Title of Authorized Officer

Signature of Authorized Officer

Date

Attachments Application must contain each of the following elements, all elements must be complete with original signatures. Application submission must be compiled/stacked in the order on the Application Submission Checklist:

· Cover Page^ - Attachment “A”

· Application Submission Checklist^

· Application^*

· Corporate Resolution (corporate seal or notarized)^*

· Authorization form signed by Officer of the Organization and all owners with 10% or more ownership.^*

· Limited Irrevocable Power of Attorney^*

· Application Certification^*

· Tax Affidavit*^

· Bank Secrecy Act/Anti‐Money Laundering Certification^*

· Web Administrator Form & Exhibit(s) A^*

· W‐9 Request for Taxpayer Identification Number and Certification*

· http://www.irs.gov/pub/irs‐pdf/fw9.pdf

· Organization Information:

· Formation/Organization (Articles of Incorporation & By‐laws, LLC: Operating Agreement and Articles of Organization, Limited Partnership & LP Agreement, Bank Charter)

· Personnel - Resumes for Key Personnel. (Owners with >10% ownership interest as well as managers and/or key personnel involved in daily mortgage operations, including: President, Principals, Operations, Underwriting, CFO, CEO, Sales Manager, Secondary Marketing.

· Organizational Chart

· Financial Statements – Previous two years audited financial statements and most recent quarterly, unaudited financial statements.

(Financial Statements not required for Federally Regulated Financial institutions.)

· Branches/Loan Officers:

· Branches - Provide a list of all Oregon branches and branches who wish to do business in Oregon complete with Branch Name, Branch Address, Branch web address, Phone Number.

· Loan Officers - Provide a list of all Loan Officers who will be authorized by the company to originate loans with the department complete with Name, Branch Location, Branch Address, Direct Phone Number, Webpage, Email Address, NMLS-ID.

· Licensing: Organization and loan officers must be licensed and approved to conduct business in the state of Oregon.

· Corporate office

· Oregon office(s) and all offices originating loans in the state of Oregon

· NMLS licenses for all loan officers who wish to originate mortgages with the department. Include NMLS ID, Address, Name, Phone, Email Address.

· Business Registry - Provide current Business Registry information from Oregon Secretary of State website for company and associated DBA’s

· Approvals/Delegation:

· Agency Approval letters, if approved by FNMA, FHLMC, FHA, VA, USDA, PIH and/or GNMA

· Investor scorecards ‐ (For all investors/lenders dated within 90 days.)

· Note: Scorecards submitted should represent at least 70% of total production.

· Mortgage Insurance Company Delegation Letters

· HFA’s - Provide a list of HFA’s with which you have a relationship, including address, webpage, contact name, phone number and email.

· Underwriting Staff Information: Resumes including certifications and ID#’s (DE, LAPP/SAR, etc.)

· References for 3 Lenders, 1 Warehouse Line, 1 HFA (Reference Forms)

· Appraisals:

· Appraisal Attestation Form^*

· AMC Agreement, if applicable

· Policies and Procedures:

· Quality Control Policy & Procedures (Pre-Funding & Post Closing)

· Quality Control Reports ‐ Most recent two months Post Closing Quality Control Audit Summary report with Management’s Response to Finding, dated within 120 days of origination.

· Consumer Complaint tracking policy and procedures.

· Post‐Closing Quality Control outsource contract (if applicable)

· Compliance Findings - Document material compliance findings with any Federal, State, regulatory agencies (including the CFPB) in the past five (5) years.

· Warehouse line(s):

· Warehouse Line of Credit Verification Form (One for each warehouse line) ^*

· Bailee Letter ‐ Sample copy of Bailee Letter for each warehouse lender or Self‐funding letter as applicable. (Letter used to communicate wiring instructions and release security interest in loans purchased).

· Insurance & Bonding: Provide copies of all E&O and Fidelity Bond coverage.

· Note: Investor losses must be covered in the amount of at least $300,000 and deductible cannot exceed the lesser of 5% of the face amount of the policy or $100,000.

· Disclosures :

· Legal Action - List any claims and/or litigation in process, convictions (excluding traffic violations), judgments, investigations or supervisory action by a regulator, agency, or any other entity, and any other contingent liabilities not shown in the financial statements. Include the present status and opinion of probable liability.

· Repurchases & Indemnifications - Please provide a letter of explanation for repurchase including reason and origination date or demand letter from investor for all repurchases and indemnifications.

· Conflicts of Interest - Identify any conflict of interest that may arise as a result of business activities or ventures by your firm and associates of your firm, employees, or subcontractors as a result of any individuals’ status as a member of the board of directors of any organization likely to interact with OHCS.

· Affiliate Questionnaire(s)

· Affidavit of Trade Secret - If Applicant believes any of its Application is exempt from disclosure under Oregon Public Records Law (ORS 192.410 through 192.505), Applicant shall complete and submit the Affidavit of Trade Secret and a fully redacted version of its Application, clearly identified as the redacted version.^*

(^) Indicates document(s) provided by OHCS, other documents must be supplied by the applicant.

(*) Indicates documents containing original signatures needed. Mail original complete documents to: Comment by Scott Shaw: Deferring to DOJ on Original "wet" signatures.

Oregon Housing & Community Services

RFA# [XXXX]

Attn: Single Point of Contact (SPC) 725 Summer Street NE Suite B Salem, Oregon 97301

Oregon Housing and Community Services | 725 Summer St. NE Suite B, Salem, OR 97301-1266 | (503) 986-2000 | FAX (503) 986-2020

Oregon Housing and Community Services | 725 Summer St. NE Suite B, Salem, OR 97301-1266 | (503) 986-2000 | FAX (503) 986-2020 image2.png image1.png