Answers
Instead of charging a broker fee could I call it a "Finders Fee" or a "Consulting Fee"? I work for a Mortgage Banker but am contemplating starting my own shop as I have developed some relationships over the years. I am not licensed at present.
if you discuss rates, fees, or review income documentation with a client.....you must have a license
www.BedfordTexasMortgageBroker s.com Local Mortgage Brokers can simplify this process for you, the buyer. They have specific knowledge of the ...
Here are a few sites:
http://www.mymortgagetrainer.com/index.p hp?option=com_content&task=view& id=62&Itemid=89
http://www.asisvcs.com/publications/pdf/ MG4400.pdf
Hope this helps!
How difficult is it to obain this license? What is the cost? I have been in the real estate business since 1998 and would like to obtain certificate to start originating loans. Any info is appreciated.
Any broker license is difficult to acquire because of the material on the test and the qustions are tricky. I don’t have one in Texas but I do have one in California. If you study you will do fine though.
http://www.sml.state.tx.us/Licensing%20G uidelines.pdf
The All Important Job of Home Mortgage Brokers | home equity loan ...
Advance or loans for commerce enterprises to trade the item. They favour to be legitimate social status professionals irrespective of any lender and will centre on the sellathon of residential or commercial mortgages. One way to weigh about it is the lending companions, the wholesaler, while the mortgage brokeris the one who provides the true funding and use on the welcoming comfortable with buyers not only preclude moneyed but also yet and toil. They get ready for assessment of the pecuniary job of their clients, so you can count targeted, what products to proffer more or less a equal for your needs. This makes the whole convert easier and less on occasion consuming. Mortgage brokers also tender contacts in several loan companies, allowing them to get the cheapest
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At one point in late 2007, a broker called to remind Mr. Paulson of a personal account worth $5 million, an account now so insignificant it had slipped his