I am gearing up to do the 203K FHA loan product. I have found one direct/retail lender who will allow us to send these their way and receive a referral fee for doing these. I am excited about this possibility as finding wholesale lenders for this product has posed a bit challenging.
Does anyone know a Wholesale lender that will actually allow brokers to do the 203K FHA loan? My concern about referring these to a direct lender is the potential loss of control of the file. While I think it is possible to still maintain control of the file, I believe having an actual broker channel would potentially be a bit simpler.
I would love input!
I specialize in first time home buyer products including FHA, MSHDA, and Rural Development. I use true down payment grants for my buyers from local and state housing authorities.
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