Can an FHA approved lender share corporate officers with other companies?

The lender must ensure its corporate officers only represent a single lender, unless the following criteria are met:

  •     the entities represented have some or all of the same Corporate Officers or Principal Owners;
  •     there is a clear and effective separation of the entities, and Borrowers know at all times exactly which Entity is being represented and with whom they are conducting business; and
  •     there is a duly appointed or elected senior officer designated as the officer in charge, who only conducts business of the lender during normal business hours.

Handbook 4000.1 I.A.3.c.i.v (B)(1)(b) is available at http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/handbooks/hsgh.