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Michigan State Processing

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ravik Joined: 07 Sep 2007 Posts: 22 10.46 Dollars($)	Posted: Mon Dec 10, 2007 4:24 pm    Post subject: Michigan State Processing Like 0 Dislike 0 We are a contract processing company operating out of Florida. We mostly process Florida Loans.We have signed up with a broker from Michigan. Does the Michigan laws need the processors to be licensed. We normally charge our processing fee on the HUD1. Can we do the same when we process loans for Michigan brokers too or is there some restrictions?? Please let me know. Your insights will be appreciated. Thank you so much
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Tue Dec 11, 2007 12:30 am    Post subject: Like 0 Dislike 0 Hello Ravik, As far as I know, processors and brokers should be licensed in Michigan. You have to pay a license fee along with a non-refundable investigation fee for this purpose. The processing fee remains almost the same except for some little differences that vary from state to state.

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