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newbie52
Dud?


Joined: 17 Oct 2010
Posts: 1

Realtor/Mortgage business relationship
PostPosted: Sun Oct 17, 2010 5:28 am Reply with quoteBack to top

I am new to the business and with all the changes in the loan business I wanted to see if I am complying. I originally signed up to do loans with individual who had his own realty business and a mortgage broker business. He was was the principal owner but not the principal broker. The MBB was to do Loan Mods. However we both had our mortgage broker licenses with a correspondent lender. I did a split with him and he did not do FHA loans since he was a licensed realtor (FL by the way). The correspondent lender does not do loan mods. The lender then became part of another correspondent lender thatwould do banked or brokered loans. We became a "virtual" branch under the actual FL branch. We were both still licensed with the new company. We recently decided to part ways and signed up with a company who is a non-supervised lender with Direct Endorsement by FHA. We are still a "virtual" branch but only I am allowed to place my license with them. My boss is now the principal owner and brker of the MBB and I am the principal rep/broker for the new company. Hestill does a split and now I get a split on loan officers that I recruit. Is this business relationship ok, legal?
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nancyseo
Dud?


Joined: 20 Dec 2011
Posts: 1

Re: Realtor/Mortgage business relationship
PostPosted: Thu Dec 22, 2011 7:33 am Reply with quoteBack to top

Realtor is also part of mortgage business.all real estate agents are realtors.many consumers consider selling their home directly but eventually turn to realtor.real estate transactions involve of the biggest fiancial investments.
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