who can be Mortgage broker ?

Asked by madevry, Anaheim, CA Thu Oct 9, 2008

who can be Mortgage broker ?

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Bob Phillips, Agent, Rancho Santa Margarita, CA
Sat Mar 21, 2009
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By your disparaging, and completely off topic snide remark, it would appear that you have an issue with Realtors? That's too bad, because the vast majority of us are hard working, honest people who have our client's best interests at heart.

Just because YOU may have run into that infinitely small percentage ( Probably a higher percentage in YOUR area.) that "makes our reputations bad for the rest of us" - in YOUR mind - it shouldn't give you license to make disparaging "blanket" statements about the entire profession.

Just like most Realtors don't consider all people who talk disparagingly about them to be complete jerks - only a small percentage.
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Ron Wright, , San Diego County, CA
Fri Mar 20, 2009
Hi Madevery,

What a unique question!

In California, you have two options:

1. You can be licensed under the California Department of Real Estate as a Real Estate Broker, or as a Salesperson working under a licensed Broker. (DRE)
2. You can be licensed under the California Department of Corporations as a Consumer Finance Lender (CFLL).

Each of these have their own set of requirements for licensing. And, once aperson is licensed, there remains the process of getting yourself approved with the Wholesale Lenders that accept loans from brokers. In almost every case these days, the Wholesale Lenders are requiring experience in the business.

I hope this helps answer your question.

Best regards,

Ron
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