Can I, as a non-licensed mortgage residential loan... - Free Foreclosure Help - Loan Modification Help

leondsmith · #1 (**permalink**) 07-17-2007, 08:08 AM

Can I, as a non-licensed mortgage residential loan broker be independant and work from my home in Va.? I would like to represent home sellers and seekers from my home. Can I? How?

newmexicorealestateforms · #2 (**permalink**) 07-17-2007, 08:09 AM

As to licensing requirements you'll need to check with the state's licensing people.
As to what hints you can get on running your show from your house you might want to visit these folks and they might have some assistance for you.
Mortgage Brokers Association: http://www.namb.org/namb/Default.asp
Best of luck on your research

Starr M · #3 (**permalink**) 07-17-2007, 08:10 AM

that's funny, i just came across the answer to this on this site. check it out!

Landlord · #4 (**permalink**) 07-17-2007, 08:23 AM

You need a license to be a loan broker. I would think you have to be an agent first, working under a broker, but I am not positive.

madilayn · #5 (**permalink**) 07-17-2007, 08:24 AM

You may be able to - but your professional integrity wil be under scrutiny and you may be closed down.

If you want to be seen as a professional, get your licence. And investigate your local government rules re running business from home.

Without that licence, though, you will stand out as a last resort lender, and possibly one that is a bit dodgy. I';m sure you aren't, but do you want to start your business with that reputation?