Does the term "corporate officer" include branch managers?

No. A Corporate Officer of a Nonsupervised and Investing Mortgagee is a natural person who serves as one of the following positions for a Nonsupervised or Investing Mortgagee:
  • Owner;
  • President; 
  • Vice President; 
  • Chief Operating Officer (COO);
  • Chief Financial Officer (CFO);
  • Director;
  • Corporate Secretary;
  • Chief Executive Officer (CEO);
  • General Counsel;
  • Chairman of the Board;
  • General Partner; or
  • Member or manager of an LLC. 
A Corporate Officer of Supervised and Government Mortgagees is a natural person who serves as one of the following positions for a Supervised or Government Mortgagee:
  • President;
  • Vice President in charge of managing or overseeing any aspect of the Mortgageeā€™s FHA business;
  • Chief Operating Officer (COO);
  • Chief Financial Officer (CFO);
  • Director;
  • Corporate Secretary;
  • Chief Executive Officer (CEO);
  • General Counsel;
  • Chairman of the Board;
  • General Partner; or
  • Specifically designated staff member(s) of a Government Mortgagee. 
 
Handbook 4000.1 I.A.3.c.iv.B.  is available at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh
 

All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: KA-05105