Starting A mortgage office?


How do i go about opening a mortgage office as a broker? Not as a branch of a particular compant but as a broker for multipul companies.Please help???


I highly recommend work as a loan officer at a mortgage broker shop and learn the fundamentals. Mortgage broker require very little capital. You can work from home office first then open a office. Please make sure you have NMLS license and certain states require a real estate licenses. You can get more information from the site below for licensing. Good luck!

Answered about 4 years ago
about 4 years ago Ted Rood said:

It would be foolhardy to think you can successfully operate a mortgage operation/brokerage without successful, extensive origination experience. The days of signing up with a few lenders and closing loans a couple of weeks later have long passed. There are capital reserve requirements, licensing concerns, annual audits, etc…….if you’d like to write loans, great, but you’d be 100X better working for an established operation rather than jumping into the industry with no experience.


What is the reason you are so emphatic about opening the branch as a broker and not as an affiliate of a lender?

Answered almost 4 years ago
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