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Real Estate Agents & Mortgage Brokerages

Discussion in 'Real Estate Brokers' started by kick88, May 4, 2012.

  1. kick88 New Member

    Just curious.. I got into real estate after the bubble burst, and I heard it used to be common for agents to also originate loans, but now such practices are illegal.. I've done some Googling by just about every way shape and form I can imagine and I can't find any applicable law.. it doesn't seem to be part of Respa.. I'm not interested in being the originator myself, but as my business grows I am intersted in starting (possibly with partners) a mortgage brokerage.. it seems like all the big Real Estate brokers have their affiliated financing institutions but say that agents cannot. Do I have to hang up my agent license and operate as CEO of a real estate company before I can have interest in a mortgage brokerage? I don't know if you've noticed, but they tell you that you cannot do a lot of things you actually can do to try to keep you out of it.. like you cannot sell land w/o a special designation or Commercial w/o a CCIM which I've already learned both are bologna..

    portland condos
  2. real_buzz Moderator

    well primarily it depends upon your local laws, can you specify your location. It is better to consult local legal consultants to get exact details.
  3. bojemrythem Member

    A mortgage broker acts i mortgage loans on behalf of businesses. Real estate agent is one type of sales person who work for real estate brokers. It is most important for buy and sell house.
  4. copplemanfarr New Member

    Mortgage broker are professional lenders of the loans and it working with outstanding liabilities of the foreclosure with legal documents. The mortgage brokers are so anxious for the secure terms and reasonable deal.

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