PHYSICAL OFFICE SOLUTIONS
PROLOGUE: If you are an Internet Broker or Lender, your goal is to close mortgage loans in every state that you have leads in. Your primary obstacle is your lack of a mortgage broker license or mortgage lender license in only a few states. Your need to expand your lending territory to 50 states but you can't afford to. Solution: Give Up. If you refuse to give up on your dream (or ambition), you need a 50 states strategy. Step1: Identify states that require no mortgage licenses. Step 2: Identify the states that you qualify for an exemption from mortgage licensing. Step 3: Identify the states that do not require a physical office in state, a large net worth, a large bond, an exam or large fees. Step 4: Identify the states do not require a physical office in state or an exam ( but may require a large net worth, a large bond or large fees) Step 5: Identify the states that require a physical office in state and/or an exam Step 6: Hire Thomas Law Firm to guide you through this maze. See our website for more information. If you want to talk to a person to make sense out of this call Herb Thomas at 214-692-7611. If anyone knows, he does.
SOLUTIONS TO STEP 5: STATES THAT REQUIRE A PHYSICAL OFFICE AND/OR AN EXAM AS A LICENSE REQUIREMENT