Get mortgage broker licensing

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Get Mortgage Broker licensing

This article will help anyone looking for information pertaining to a mortgage license or anyone looking to become a mortgage broker. Article Summary:

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In June, 2002 there were 30,283 active Mortgage Brokers, and in May there were 45,006. This reflects a 50% increase in just two years. The increase in Licensed Mortgage Brokers indicates tremendous recent growth in the mortgage industry.

They affect anyone who solicits mortgage loans on behalf of someone borrowing, who accepts an application for a mortgage loan, or who negotiates the terms and conditions of a mortgage loan for a lender of the money. The current regulations regarding Mortgage Broker Licensing became effective in July. All Mortgage Brokers must be an associate of a Mortgage Broker Business that is also licensed . Once licensed, the Mortgage Broker may work with both 1st mortgages and 2nd mortgages. However, a Mortgage Broker may only be an associate of one Mortgage Brokerage.

The MBSD Group answers some basic questions about Mortgage Broker Licensing.