To be approved, brokers must meet the following criteria:
- Be properly licensed or registered (if applicable in your state) and authorized to originate and broker loans that meet MCC product line and underwriting requirements.
- You must have been in business for at least two years. In cases of newer firms, principals should have a minimum of five years’ experience in mortgage lending.
- Have a good reputation in the industry and a high level of professionalism and strong ethical standards.
- Have a “good standing” rating with all governmental licensing and revenue collection agencies and have a public record clear of any civil or criminal judgments.