SERVICE
MOHCD annual lender training
Every year, participating lenders must attend training and pay a fee. During training, MOHCD staff will review our homeownership programs and go over recent program updates.
What to know
Cost
View initial and renewal lender participation fees.
Workshop dates
View currently scheduled workshop dates for MOHCD housing partner trainings.
What to do
Requirements for all lenders
- You will take a test on the material covered during training.
- Provide MOHCD your NMLS ID#.
- Sign the appropriate lender agreement
- DALP Lender Agreement for DALP loans
- BMR Lender Agreement for BMR lenders
- Pay your fee.
- Only one fee per lending institution is needed.
- The annual lender renewal fee is lower than the initial fee to participate.
- These fees are updated every fiscal year, increasing by about 2%.
- See current lender participation fees »
- Contact MOHCD for a password to the Lender Portal.
Additional information for Mixed-Income Below Market Rate (BMR) Program lenders
- MOHCD will place a second lien against the BMR property, referred to as the “BMR lien.”
- This lien is the difference between the fair market value and the BMR sales price.
- MOHCD requires Title Insurance for the BMR lien.
- Be aware that restrictions in an Inclusionary Housing unit survives foreclosure.
Partner agencies
What to know
Cost
View initial and renewal lender participation fees.
Workshop dates
View currently scheduled workshop dates for MOHCD housing partner trainings.
What to do
Requirements for all lenders
- You will take a test on the material covered during training.
- Provide MOHCD your NMLS ID#.
- Sign the appropriate lender agreement
- DALP Lender Agreement for DALP loans
- BMR Lender Agreement for BMR lenders
- Pay your fee.
- Only one fee per lending institution is needed.
- The annual lender renewal fee is lower than the initial fee to participate.
- These fees are updated every fiscal year, increasing by about 2%.
- See current lender participation fees »
- Contact MOHCD for a password to the Lender Portal.
Additional information for Mixed-Income Below Market Rate (BMR) Program lenders
- MOHCD will place a second lien against the BMR property, referred to as the “BMR lien.”
- This lien is the difference between the fair market value and the BMR sales price.
- MOHCD requires Title Insurance for the BMR lien.
- Be aware that restrictions in an Inclusionary Housing unit survives foreclosure.