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.
Last updated February 27, 2023