Posted by M.McGhee on January 25, 2001 at 23:03:31:
Thanks Michael for your help.
Mark
Please answer this!!! - Posted by M.McGhee
Posted by M.McGhee on January 25, 2001 at 20:24:37:
I’m just getting started in the note business (brokering) and I’m wondering if I need a license of some sort to do this in Arkansas? I appreciate any help.
M.McGhee
Can’t answer this… - Posted by Michael Morrongiello
Posted by Michael Morrongiello on January 25, 2001 at 22:48:54:
Licensing is a sensitve issue. Some states require some form of licensing (mortgage broker, etc.) and some do not. Also this issues is constantly evolving. Many state regulators, and other bureaucrats in various state agencies (like the comptrollers office, Department of professional regulation, Banking and Finance, etc.) often confuse the brokering of notes on the secondary market with the loan origination business and suggest eroneously that licensing IS require.
I will not go out on a limb regarding this issue in any state, however continue to check around, speak to state officials, make sure they understand what you are doing (Not originating loans,etc.)and make the ultimate call for yourself.
Michael Morrongiello