How can I start a mortgage brokerage company in the state of California?
96043
Go to the state of Californias web site for answers with starting a business, and the DRE web page with answers on Real estate.\n\nhttp://www.ca.gov/state/portal/myca_homepage.jsp
435617
Depending on which state you are in you can call any title company located in the area of the property, ask for customer service, and get a preliminary property profile report for free!\nI do it all the time and I am in CA.\nGood luck!\nIf you are looking to buy a home and need the financing still please feel free to e-mail me and I will put you in touch with the best company I know of who can do loans across the country!\n\nThomas@Simmonsrealty.net
1021748
Easy short answers:\n\n1. find people who are having difficulty paying their mortgage or have been served a notice of default. Your local paper, people trying to rent their house and it's not renting, online servcies and such are your source. Just put yourself in their mindset and you will know where to look. \n\n2. You will need to determine the value of the house and how much equity (if any) is in the house. If equity, then you draw up a contract giving you the option to purchase the house. It's called an "assignable purchase option contract". Let's say you negotiated to give the owners 2k to move out and they have 30k in equity in the house. You now sell your contract to an investor for 5k. You just made 5k. Investors can be found by calling the "we buy houses" numbers you see advertised everywhere. \n\nThis whole transaction should have cost you $1 out of your pocket and no credit. Do a search on "assignable purchase option contracts" for more info on how that works and you can download a purchase option contract form for free (you just have to make it assignable) from http://www.firsttuesday.us/Downloads/form161.pdf . To make this contract assignable, you should add an assignable clause and put the following words after your name "and/or assigns".\n\nOne word of caution, check your state laws to see what legal forms you might need to purchase property from people who are in foreclosure and have equity. For example, we have a form in California we have to give or we can be sued. \n\nAlso, in number 2, if the property has no equity, you still can work out a deal, but that will require cash money (called a "short sale"). You can sell your leads of no equity to investors as well. They usually pay anywhere from $250 to $1000 per lead. \n\nGood luck. Investing is a great job because you get paid to help other people.
556857
so you have your own mortgage company?  I can probably help you steamline your process email me at taustin288@gmail.com and we can probably work out something
319178
You can get a state wholesale license for the state of California, by contacting your local City Hall.\n\nIf you are refering to a federal wholesale license, you can go to www.irs.gov and get one there for ten dollars. :)
874401
You need to go here\nRegulations for homestead filings in California:\nhttp://www.dca.ca.gov/legal/h-1.html\nBuena Suerte
1010153
If I understand the question properly... \n\nYour representing properties in Asia and looking for buyers in California? \n\nI would think this is more of a licensing question for an Asian goverment. I would recommend checking with the California Department of Real Estate. www.dre.ca.gov to be sure how California looks at it.
1166254
try looking on the california web site.
1098226
Depending on your state the regulations are different... In colorado (where I am) and in many other states, you can get into mortgages easily.  You can apply with any mortgage broker for the job.  It pays quite well, but is usually pretty tough-as-nails sales.  If you have sales experience, you will find it easier.  If your state requires licensing for it, most community colleges will offer certifications in things like that and real estate.\nGood Luck!
615475
If you sell mortgages for a bank, you don't need to be licensed.  You will likely have to be licensed to work in a broker shop.  Most states have caps on what you can make on the loan.  In Ohio it was 7.99%, but it's changing to 5%.  Many lenders have their own caps on what they'll let you charge as well.  Really it comes down to the customer.  Good luck charging the cap unless you're their only hope, and you'd have to be pretty good to be the only one to come up with a program no other broker can do.  Also, broker shops have become very competitive with slowing sales.  If you can prove that you can meet a steady (and impressive) monthly goal, you're in a good bargaining position (over 50% of your fees).  Remember .. the broker has to make some money too, or there is no shop!  :)
33687
Each state has to have an individual licence to practice and you must have a brokers Licence. Or work under a broker.\n\nFor example agents that work in Lake Tahoe often will have a licence for California & Nevada.\n\nSome state that border one another often will have an reciprocal agreement to make it easier to have both.  As an example Mississppi & Louisiana.\n\nEach state has a department of real estate and they would be the final authority.
568585
To obtain a brokers license in the state of CA you must first obtain a real estate salesperson license and if you have a collage degree in a business relates field you may apply for a brokers license after completing the required continuing education and have your salesperson license for 1 year. If you don't have a business degree you can apply for a brokers license after 3 years as a real estate salesperson with your license in good standing
97332
Go for the old "No PMI" approach, or just start going in and showing them that you are serious about getting some biz from them.  Either that, or find a prime position open adn quit your current company.  Although I find it very, very hard to believe that brokers in Cali are doing all prime stuff.  I know for a fact that they are also doing a great amount of sub-prime stuff.  I think that you may be too much of a push over.  \n\nSell it hard bro.  Don't stop!!!!!
196478
You need to take the real estate licensing classes/test. Contact your state for more information.
1121572
I'm a licensed mortgage Banker in NY & NJ. I can do 100% financing on investment properties up to $1 Million. If the property is located in NY or NJ, feel free to email me with questions. bianca@slkmortgage.com\n\nGood Luck!
626095
If you're in California you may want to visit CalHFA. They have a variety of 1st time home owner assistance program
1014637
I think your broker is on the right track with this.  You've got two avenues to attack here: the letter and the mortgage.  To me, it looks like your better avenue would be to get this letter.  You'll have this problem with any mortgage company.\n\nIt seems silly to me that you are getting a stone wall at work.  Write up a soppy letter that explains how you need this loan and one piece of paper from them is all that is keeping you away from your dream.  \n\nAlso, the letter you show the lender doesn't necessarily need to be from the president of the company.  They're usually just looking for something on their letterhead with a signature of someone in some kind of supervisory position to you.  \n\nBest of luck!