In today's evolving and restrictive mortgage market FHA financing provides an excellent opportunity for many applicants in need of flexible guidelines and fair interest rates. Our Mission is to provide awareness and education on valuable FHA loan programs to mortgage brokers and bankers

Ideal Mortgage Bankers acknowledges the borrowers right to hire and compensate a mortgage broker directly but does not offer advice, guidance or opinion on the amount of compensation to be charged. In any event the amount of compensation will be fully disclosed and must be compliant in accordance with all State, Federal and HUD requirements. It’s is strongly recommended that you review the attached commentary, RESPA regulations, state licensing requirements and consult an attorney prior to your determination of your fee for services.

Please click here to download and read the attached commentary which offers information regarding a client compensating a mortgage broker in connection with an FHA transaction.

Mortgage Broker Compensation

Non HUD Approved State Licensed Mortgage Entity. (Broker or Banker)

• Ideal Mortgage Bankers cannot pay a non HUD approved entity in any form.
• Entity can not charge an application or processing fee.
• Entity can not receive yield spread premium
• Nothing is to stop the borrower from paying a State licensed entity a reasonable mortgage brokerage fee for providing services for the client. The fee will be disclosed in the APR, on the good faith estimate of closing costs, loan commitment and HUD-1.
• You must supply Ideal with a copy of your state license and a state compliant fee agreement executed by the client when transferring the client to Ideal.
• Download copies of regulations regarding non HUD approved entities. Please also review RESPA Guidelines.

FHA Resources

RESPA Guidelines