Becoming a THDA-Approved Lender (Originating Agent)

Basic Requirements to becoming 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 and required documents listed on the Submission Checklist. Please review the application instructions for further information. The application is not a complicated process. The average turnaround time is seven business days.

A THDA-Approved Lender:

• Must have a physical brick & mortar building in the State of Tennessee.
• Must have a minimum net worth of $500,000.
• Must be able to originate, process, underwrite and fund their own loans at closing.

A THDA-Approved Lender can expect to perform 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.
• Insure 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.
• Insure 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 Loan in an amount not to exceed the amount set forth in the OA Guide.
• Other fees only as expressly authorized in the OA Guide.