The Officer in Charge is the Corporate Officer designated to manage and direct the mortgagee’s FHA operations.
The Mortgagee must designate as the Officer in Charge a full-time Corporate Officer who has at least three years of experience in the specific Mortgagee functions or activities that the Mortgagee is approved to perform, including:
- originating or servicing Single Family or Multifamily Mortgages;
- investing funds in real estate mortgages; or
- managing other individuals performing these services.
The Mortgagee cannot rely on a Corporate Officer’s experience in real estate sales or brokerage as qualifying experience in Mortgagee functions or activities.
A current resume covering the most recent seven-year period detailing the individual’s relevant experience must be submitted with the online application.
For additional information see Handbook 4000.1 I.A.3.c.iv.(B)(2) at http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/handbooks/hsgh.