Does reps at a mortgage broker firm want to individually be licensed.?
Is it just bank reps that call for to be licensed to help people refinance? What around reps at brokerage houses? Can they submit deals to banks for refiancing or modifications?
"> Yes, if the company is licensed through the Department of Real Estate.....but if they work for a mound, which is licensed under the Department of Corporations they don't have to be.
Anyone consulting on or submitting loans must be licensed unless they work for a Nationally Chartered Bank (and even that may enjoy changed in the last year). The just exemption used to be if you work as an Independent Loan Originator, but several years ago, at least most states, changed that to a licensed position as well. Loan Mods are for a while different and you can work as a rep unlicensed but in order to adopt money the company has numerous qualifications to comply near. The entire industry has really locked itself down and demanded better quality (for comprehensible reasons).
Related Questions:
What precentage of mortgage interest is refund within taxes<?
So Far this year I have paid over fifteen thousand dollars within interest on my mortgage. Is there a certain percentage i.e. refunded when I do my taxes? Also, are closing costs refundable too? It doesn't work that way, exactly. Here's how it works:...
"> Yes, if the company is licensed through the Department of Real Estate.....but if they work for a mound, which is licensed under the Department of Corporations they don't have to be.
Anyone consulting on or submitting loans must be licensed unless they work for a Nationally Chartered Bank (and even that may enjoy changed in the last year). The just exemption used to be if you work as an Independent Loan Originator, but several years ago, at least most states, changed that to a licensed position as well. Loan Mods are for a while different and you can work as a rep unlicensed but in order to adopt money the company has numerous qualifications to comply near. The entire industry has really locked itself down and demanded better quality (for comprehensible reasons).
Related Questions:
What precentage of mortgage interest is refund within taxes<?
So Far this year I have paid over fifteen thousand dollars within interest on my mortgage. Is there a certain percentage i.e. refunded when I do my taxes? Also, are closing costs refundable too? It doesn't work that way, exactly. Here's how it works:...