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If the mortgage lenders business activity consists of brokering loans and making loans, must their mortgage originators apply for a license?

April 26, 2017activity brokering Business CONSISTS Lender Loans mortgage

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If the mortgage lenders business activity consists of brokering loans and making loans, must their mortgage originators apply for a license?

1 Answer

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The new law has no exception from licensing for minimal brokering activities. Therefore, mortgage originators must apply for a license if the lender/employer brokers more than one mortgage loan per calendar year.