The Mortgage License Blog Begins!
Hi, my name is Eric Smith, and I've been in the mortgage license industry for about 5 years now. During that time, I've heard countless stories of frustration from brokers, lenders, and loan officers about the pains they go through in trying to get licensed in states across the country. The trouble is that the mortgage license requirements differ greatly from state to state and there are very few central locations that offer helpful information to guide you through the process.
Over my time in the industry, I've assisted upwards of 200 companies in getting licensed in anywhere from 1 to all 50 states. These companies have varied in size and experience, but it has been exciting to watch them grow and share in their excitement as their business expands. So, whether you are an owner of a mortgage company who wants to grow, a loan officer who would like to start her own company, or just an entrepreneur looking for more information, please use this blog as a resource.
I plan to discuss and explain specific state mortgage license applications and the requirements of each. My hope is that this can turn into a conversation as more of you begin to read and post your questions. I'll do all I can to provide quick and thorough answers to the best of my ability. I'll also be honest with you when I don't know the answer and try to guide you to the resources that might.
I also need to let you know that I currently own and operate a mortgage license company which, for a fee, assists people and companies in acquiring the mortgage licenses they wish to obtain. If you'd like to know more information about us, you can check out at www.amlicensing.com.
Lastly, I must be clear that this blog should in no way be viewed as legal advice, but rather as valuable information that assists you in pursuing your mortgage licenses.
With that said, we might as well start off with information about a very popular state that almost every caller we get asks about; FLORIDA.
5 Comments:
It is such a relief that I found this website. I have been reading state guidelines for the past two weeks and all that I keep seeing is surety this, state exam that, and a bunch of dollars signs floating around. A colleague and I are looking to open up a brokerage in the next few months, do you recommend obtaining licensing in one state at first or is there any set protocal for the number of licenses one should or can establish at one time? Thanks.
Daniel, thanks for the comment and please know your story is a common one. Reading through state requirements can be quite a pain. Feel free to use this blog as a resource and you might also try giving my company a call at 866.588.6600. We can discuss your growth plan and if it would make sense to pursue licensing in more than one state at a time.
I would like to know which states require a license to do Commercial Loan Brokering, and which ones do not. I do not do residential loans but my company may transition to that in the future. Best regards,
REAL BUSINESS LOANS LLC
Nationwide commercial loans; Super fast loans in 3 days or less.
-Refinancing*Construction
-Remodeling*Purchasing
-No Minimum Credit Score
-No Income Verification
-No Seasoning Funds
-No Documentation For Cash For Closing
-No Credit Check
Commercial Loan
www.RevolveMe.com
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