How to become a mortgage broker?
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If you work for a bank, you will not need a license but, most mortgage brokerage firms do require you to get a license. To be a successful mortgage broker, you will need experience and vast knowledge of the different types of loans and interest rates available to the borrower.
To get mortgage broker license, you will have to check with the laws in your State. The requirements in most States are:
*registration
*a 'Certificate of Authority' filed with the Secretary of State
*surety bonding to protect third parties and consumers
*a background check that is free of felonies
*exams concerning the State and Federal real estate laws
*brokering experience
*and completion of an application.
On the application, you may be required to produce a business plan.
The entire process can cost an average of $2,000.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
http://www.propertyfaster.co.uk
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