do you need to hold a license in order to have someone sign

jfarmer · Joined: 12 Aug 2007 Posts: 1 1.36 Dollars($)

My company allows customers to pay for their service over a four month period using a credit card withdrawl program. They have now instructed us that they want us to get the cutomer to sign a mortgage deed with a note attached for the balance of the obligation. I am not licensed for martgages in the state of Florida and do not feel comfortable having the customer sign a mortgage deed on their home. Our company is not lending money to the customer, they are using a credit card withdrawl program. But even so, in order for me to even present this type of arrangement don't I need to be licensed?

larry · Joined: 27 Jun 2007 Posts: 2951 411.26 Dollars($)

Hi Jfarmer,

When your company is not lending money to the customer, then they cannot make them sign for any mortgage deed. It will be considered as a kind of fraud. And as you are not licensed lender for mortgage, you may be penalized in future. You may have to face troubles for such illegal operation.

BTW, can you tell me what type of services does your company provide to customers?

adonis · Posted: Sun Aug 12, 2007 11:11 pm Post subject:

Hi Jfarmer,

In the state of Florida, when you are instructed to get the customer to sign a mortgage deed with a note, then it's a mandatory for you to have a license.

I personally suggest, Don't go for this type of agreement.

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