FLORIDA LOAN PROCESSING
Is Florida a Title State or an Attorney State?
Florida allows both. Title companies and attorneys can each act as a closing agent, and the law does not require either an attorney or title insurance to close a transaction, though most lenders require title insurance as a condition of the loan.
Do You Need a License to Outsource Loan Processing in Florida?
No additional licensing is required on your end as a broker or loan officer. Florida has a specific regulatory filing for companies that engage solely in loan processing (a Declaration of Intent to Engage Solely in Loan Processing), and Hancock maintains the appropriate licensing to operate in the state.
What Makes Florida Different for Investor Loans?
Florida has a high volume of investor and second-home activity, which means DSCR and Non-QM files are especially common. Processors working Florida files regularly need to be comfortable with investor documentation and rental income calculations, not just standard owner-occupied files.
Hancock Processing Services in Florida
Is Hancock Processing licensed to process loans in Florida?
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Yes, Hancock maintains the required licensing to operate in Florida.
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What Loan Types Does Hancock Process in Florida?
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DSCR, Non-QM, and Conventional loans are all especially common in Florida given the state's high volume of investor purchases and second-home buyers.
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Does Hancock handle investor and DSCR files in Florida?
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Yes, DSCR and Non-QM processing is a significant share of Hancock's Florida volume.