Can I rep lenders w/o a license in/from Richmond, Va. / How?
I immediately work for a licensed broker but would resembling to work on my own. I own the education.
Answers:
Yeah I agree if you dont know that is to say a bit fear-provoking.
First you will involve to attain your brokers license, contained by VA they do it through the Dept of Financial Institutions. Here is adjectives the information you will necessitate.
http://www.scc.virginia.gov/division/ban...
After you are approved, you will own to jump out and attain approval from adjectives the Lenders to do their loans. So you will walk to countrywide wholesale, Wamu, Bank of America etc. Then you will own to procure approved from adjectives your subprime lenders. Most possible you will want to be approved near at smallest 5 -10 conforming lenders and I don`t know 10-15 non-conforming.
Call the AE that you currently operation beside, next to the broker you work near and a short time ago write down their name, so you own it when you turn out on your own.
Once this is done if you want to do Government VA is assured. You own a lender sponser you, it cost approaching 150 bucks. If you want to do FHA, a lender have to sponser you as powerfully. But you enjoy to own 250,000 surrounded by solution assets, a "brink and mortar" building (meaning it cant be home based) ect. Its massively strict.
Good luck
most possible you obligation to enjoy a brokers license contained by that state. but if you hold to ask, that's worrisome - you should know this.
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Answers:
Yeah I agree if you dont know that is to say a bit fear-provoking.
First you will involve to attain your brokers license, contained by VA they do it through the Dept of Financial Institutions. Here is adjectives the information you will necessitate.
http://www.scc.virginia.gov/division/ban...
After you are approved, you will own to jump out and attain approval from adjectives the Lenders to do their loans. So you will walk to countrywide wholesale, Wamu, Bank of America etc. Then you will own to procure approved from adjectives your subprime lenders. Most possible you will want to be approved near at smallest 5 -10 conforming lenders and I don`t know 10-15 non-conforming.
Call the AE that you currently operation beside, next to the broker you work near and a short time ago write down their name, so you own it when you turn out on your own.
Once this is done if you want to do Government VA is assured. You own a lender sponser you, it cost approaching 150 bucks. If you want to do FHA, a lender have to sponser you as powerfully. But you enjoy to own 250,000 surrounded by solution assets, a "brink and mortar" building (meaning it cant be home based) ect. Its massively strict.
Good luck
most possible you obligation to enjoy a brokers license contained by that state. but if you hold to ask, that's worrisome - you should know this.