Question by Sam: In the state of California, does a mortgage broker have to have a license?
I am just curious…
Do they have to have any special licenses?
I checked my TRW and have found that the mortgage company is not reporting my no late payments and I am not able to refinance due to lack of records.
What is the law?
Thank you Dion…
Answer by dioncornel
Yes. To act in the capacity as a broker, you must be licensed by the Department of Real Estate, the Department of Corporations, or you must be an attorney with a license by the California Bar. Additionally, banks, savings and loans, thrifts, credit unions and etc all may broker loans to each other as long as they are either chartered federally or by the state. For information on a broker, you can check their name or license by going to the following sites below.
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