Posted by paul on April 22, 1999 at 12:47:43:
I`d like to here more,THANX.
Loan Brokering How to Get Started - Posted by JC
Posted by JC on April 16, 1999 at 21:29:57:
Any Feed back will be appreciated.
Re: Loan Brokering How to Get Started - Posted by Rick
Posted by Rick on April 20, 1999 at 10:02:27:
Your best bet is to look up your State laws and find out what kind of license you need to broker loans. In my state (Florida) you get a Mortgage Broker license. In other states loan brokering is part of a real estate license. I would get my license first because your teacher and classmates will be a tremendous resource for you. If you have a good teacher they will direct you toward a good company for you. Even if you want to run your own business it would be very beneficial to see first hand how someone else runs their operation. Also it will let lenders become familar with you. Some lenders will not work with new people.
You can then go in three directions. 1. Work from someones office and receive a 50/50 split. 2. Work for someone else but work from a home office and get a 80/20 split. 3. Start your own company and spend for ads, office, licenses, and other overhead. No matter where you work to make good money you will have to generate business on your own! I have had a lot of success in my Mortgage Broker career so far and I really enjoy it. I would avoid like a plaque any of these businesses that sell packages to start a MB business. They just sell a package of overpriced goods and then want a cut of your commission. Good luck to you.
Re: Loan Brokering How to Get Started call these guys - Posted by Jimmy
Posted by Jimmy on April 19, 1999 at 07:30:57:
There are 2 companies that specialize in starting a loan brokerage business. One is in Calif, the other Texas.
Call 972-480-5237 24 hrs a day for information. It is a great combination to add this to your real estate business.