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do i need a moertgae bankers license to owner finance my own

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Icon Mini Profile mcinvest04





Joined: 17 Mar 2008

Posts: 1

1.27 Dollars($)
Post Posted: Mon Mar 17, 2008 1:07 pm    Post subject: do i need a moertgae bankers license to owner finance my own
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If i owner finance my own property and finance more than 5 properties a year , do I have to have a mortgage bankers license?
i live in texas
Icon Mini Profile larry





Joined: 27 Jun 2007

Posts: 3322

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Post Posted: Mon Mar 17, 2008 2:09 pm    Post subject:
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Hi mcinvest,

Welcome to the forum.

I think you need a mortgage banker license but it will be better if you can just consult with an attorney in this regard.

Best of luck,
Larry
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005



Posts: 10562
Location: ALASKA
1089.18 Dollars($)
Post Posted: Tue Mar 18, 2008 6:19 am    Post subject:
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mcinvest,

I don't think you need a mortgage banker license for owner financing on your own property. Any seller can go for owner financing. Moreover, a banker license is meant strictly for mortgage bankers.

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