Drop Mortgage, Inc NMLS #1202262
At a glance
- HeadquartersSan Diego, CA
- Size957 home loans closed in 2025
- Loan typesConventional
- Licensed in21 states
- Formed in2014
2025 figures are for FUNDLOANS CAPITAL's filing.
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Who is Drop Mortgage, Inc?
Drop Mortgage, Inc (NMLS #1202262) is a lender listed in the NMLS registry. FreeRateUpdate publishes this review alongside current mortgage rates, a rate finder, and mortgage calculators.
Is Drop Mortgage, Inc legit?
Here's what public licensing records show. Drop Mortgage, Inc holds mortgage licenses in 21 states, including Arizona, California, Colorado, Connecticut, Florida (NMLS ID #1202262, per NMLS records as of October 1, 2026). FreeRateUpdate publishes a Score built from public data and our own records. It does not endorse or vouch for any lender. You can confirm any lender's license yourself at nmlsconsumeraccess.org.
Key Facts
- Lender or brokerDrop Mortgage, Inc
- NMLS #1202262
- Verified by FreeRateUpdateCompany name and NMLS ID, checked against NMLS on
- In the FreeRateUpdate network since
- Profile updated
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About Drop Mortgage, Inc
Overview
Drop Mortgage, Inc is a mortgage company serving mortgage brokers through a wholesale lending model.
Mortgage options
Mortgage options include jumbo non-QM loans, super jumbo loans, standalone second mortgages, bank-statement loans, P&L-only loans, asset-allowance and assets-only loans, 1099 loans, full-documentation loans, and DSCR/no-ratio loans.
Locations
The company has four branches in Arizona, Colorado, Hawaii, and Texas.
Company details and licensing
The NMLS company name is FundLoans Capital. The company is a corporation formed in California, United States, on May 22, 2014. Supported trade names include FundLoans, Founders Mortgage, and American Mortgage Group.
The headquarters address is 12481 High Bluff Drive, Suite 150, San Diego, California 92130, and the NMLS company ID is 1202262. Licensing is verifiable through NMLS Consumer Access.
Verify NMLS #1202262 on NMLS Consumer Access
Sources
Sources last checked . These are the outside records this profile was written from. FreeRateUpdate is not affiliated with them, and they have not reviewed, endorsed, or approved FreeRateUpdate or this page.
Formation date and trade names come from NMLS registry records. FreeRateUpdate is not affiliated with NMLS, and NMLS has not reviewed, endorsed, or approved FreeRateUpdate or this page.
Additional information
Reported application outcomes and pricing, 2025
- Filed asFUNDLOANS CAPITAL
- Drop Mortgage, Inc is a registered trade name of FundLoans Capital (NMLS #1202262), which filed these figures.
- 2025 home loan decisionsOf 1,050 applications decided by FUNDLOANS CAPITAL in 2025, 957 were originated, 0 were approved but not accepted by the borrower, and 93 were denied.
- Approval rate: approved (originated plus approved but not accepted) as a share of applications decided (approved plus denied) = 91.1%. Withdrawn, incomplete and purchased loans are not counted.
- Withdrawn, incomplete and purchasedBeyond the decisions above, 797 applications were withdrawn by the borrower, 125 were closed for incompleteness, and 0 loans were purchased from another lender. HMDA counts these as outcomes in their own right — withdrawn before a decision, closed with no decision reached, and a purchased loan is one bought from another lender — and none of them is a lending decision.
- Median rate spread1.404 percentage points above the average prime offer rate (reported on 606 originations, 351 reported no spread at all — a median of what was reported, not of everything originated)
These are reported outcomes from past applications, and on their own they do not show how this lender treated any borrower.
Reported closing costs, 2025
- Median total loan costs$17,064.83 — originated closed-end household loans, 2025, 618 loans. FFIEC HMDA data browser.
- Median origination charges$12,852.95 — originated closed-end household loans, 2025, 618 loans. FFIEC HMDA data browser.
- About these figuresThese are historical closing costs reported in the 2025 filing, not a quote for your loan.
Reported product mix, 2025
- Loan types957 Conventional — of 957 reported originations, 2025. FFIEC HMDA data browser.
Evidence read October 20, 2026
Source: FFIEC HMDA data browser, 2025 filing. Historical HMDA-reported application outcomes and pricing fields for FUNDLOANS CAPITAL — historical outcomes for the applications it decided. This is not a statement of any consumer's likelihood of approval and not a current rate quote.
Frequently Asked Questions
Is Drop Mortgage, Inc legit?
Here's what public licensing records show. Drop Mortgage, Inc holds mortgage licenses in 21 states, including Arizona, California, Colorado, Connecticut, Florida (NMLS ID #1202262, per NMLS records as of October 1, 2026). FreeRateUpdate publishes a Score built from public data and our own records. It does not endorse or vouch for any lender. You can confirm any lender's license yourself at nmlsconsumeraccess.org.
What is Drop Mortgage, Inc's NMLS number?
Drop Mortgage, Inc's NMLS number is 1202262. You can look up its license status on NMLS Consumer Access, at nmlsconsumeraccess.org.
Has FreeRateUpdate verified Drop Mortgage, Inc's NMLS ID?
Yes. We checked Drop Mortgage, Inc's company name and NMLS ID against the NMLS record on October 10, 2026. They've been in our lender network since January 2016. That confirms who the company is. It isn't an endorsement, and it doesn't check their license in any particular state.
Where can I learn more about Drop Mortgage, Inc?
This page has Drop Mortgage, Inc's NMLS identity, which we verified, and its company details, with links to the records they come from where we have them. For its license status in a particular state, check NMLS Consumer Access.