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Questions on starting a company that handles mortgages?
juicy_jj
Posts: 3 Newbie
Hello I was wondering what a person would need to do in order to be a mortgage broker? I know that there are some license and bond requirements which I can get no problem...Mainly just wondering how to find companys to broker for? Ie chase, citi, rural dev, fha? Any help you guys could give me would be greatly appreciated!!!
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You can't just decide to offer mortgages. What qualifications do you have?Estate Agent, Web Designer & All Round Geek!0
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Hello I was wondering what a person would need to do in order to be a mortgage broker? I know that there are some license and bond requirements which I can get no problem...Mainly just wondering how to find companys to broker for? Ie chase, citi, rural dev, fha? Any help you guys could give me would be greatly appreciated!!!
If you have to ask these questions then you really really dont have the experience or expertise in what is a very contracted market compared to the affluent times of a few years ago.
Mortgage brokers / shops are dropping like flies. How could someone with no experience whatsoever expect to hit the ground running and crack the market, when other with years / decades of experience cant?0 -
If you have to ask these questions then you really really dont have the experience or expertise in what is a very contracted market compared to the affluent times of a few years ago.
Mortgage brokers / shops are dropping like flies. How could someone with no experience whatsoever expect to hit the ground running and crack the market, when other with years / decades of experience cant?
Well the mortgage part of the business is only going to be a very small part. I have a degree in finance and am almost half way done with my MBA. With that being said, I am probably more qualified that you give me credit for. I probablly wont be the broker in my office anyway. I was planning on hiring that out to an experienced loan officer. I just need to know how to go about getting lenders to let my business setup to write loans?0 -
If you want to be a mortgage broker, no matter how small a part of your work this would be, you'd have to be authorised by the Financial Services Authority to do so.
This factsheet is a good starting point
http://www.fsa.gov.uk/smallfirms/resources/factsheets/pdfs/mortgage_arranging.pdf0 -
Dream world.Estate Agent, Web Designer & All Round Geek!0
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