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How many residential mortgage loans can a person or entity make or broker without obtaining a license?

April 26, 2017broker entity license mortgage loans person Residential

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How many residential mortgage loans can a person or entity make or broker without obtaining a license?

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None. There is no longer an exemption from licensing for persons who make or broker three or fewer loans. The current D.C. Mortgage Lender and Broker Act of 1996 requires that any person or entity, for compensation or gain, or in the expectation of compensation or gain, making or brokering (or intending to make or broker) a single residential mortgage loan in the District must be licensed by the Department of Insurance, Securities and Banking.