Become a CalHFA Direct Lender

These questions will help you determine whether your company is ready to do business with CalHFA. If you answer "yes" to them all, you may be eligible.

• Is your company approved with CalHFA's Master Servicer, Lakeview Loan Servicing? If not, you can contact Lakeview Loan Servicing's Counterparty Risk Management at CRM@lakeviewloanservicing.com
• Is your company approved to do business as a Seller with Fannie Mae?
• Does your company act as a direct lender and fund loans from its own resources, or maintain a warehouse line of credit of at least $1,000,000?
• Is your company duly organized, validly existing, and properly licensed, as a mortgage banker, bank, savings and loan or credit union (in good standing) or otherwise authorized to conduct business in each of the jurisdictions in which it originates, sells, and services residential mortgages, including California?
• Has your company been in business for at least two years?
• Does your company have and maintain an adjusted net worth of at least $2.5 million?
• Does your company have in effect a fidelity bond and errors and omissions insurance policies that meet Fannie Mae requirements?
• Is your company an active member of Mortgage Electronic Registration System (MERS)?
• Will your company be committed to closing a minimum number of CalHFA first mortgage loans over a set period of time - currently four (4) first loans in 6 months - to avoid suspension?
• Once approved, each CalHFA-approved lender must complete a mandatory annual recertification. For more details regarding this process, please review the section "How to remain a CalHFA-approved lender".

The following documents are required when applying to become a CalHFA-approved lender:

• Application to Originate CalHFA Loans
• Mortgage Purchase Master Agreement (Sample Copy)
• ACH Credit Transfer Authorization Form
• Certificate of Authority and Specimen Signatures

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CalHFA requires each approved lender to complete the annual recertification process to maintain their "approved" status. This process will allow the Agency to review and evaluate each approved lender's financial stability, compliance with current licensing and insurance requirements and overall viability of the organization.

All CalHFA-approved lenders are required to complete an annual recertification package on an annual basis. A CalHFA lender Administration/Relations/Recertification Associate will email your company’s Corporate Contact when the recertification is needed and provide the most current Annual Lender Recertification form and Checklist. Samples of these forms are available below.

• Annual Lender Recertification Application

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• Is your company a CalHFA-approved lender?
• Does your company allow construction loans on Accessory Dwelling Units (ADUs)?

If you answered "yes" to both questions, you may be eligible to be a participating CalHFA-approved lender for CalHFA’s ADU Grant Program.

• ADU Lender Participation Agreement

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