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unicycle
Joined: 01 Jun 2007
Posts: 1
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| Posted: Fri Jun 01, 2007 2:02 am Post subject: Which lenders will approve new brokers |
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Hi. I just passed the broker's exam in California and am in the process of getting my real estate/mortgage broker's license.
One obstacle I am finding is that the Countrywide Bank, Bank of America, and Wells Fargo bank broker applications are all requiring 2-3 years of mortgage lending experience. Is this a hard and fast requirement? I am a licensed CPA with over 9 years of accounting experience, over 4 years of managing corporate real estate and 9 years of experience getting mortgages on financing my own real estate investments so I am not a total stranger to mortgages and feel that I can learn the particulars of the specific loan programs by research and doing.
Do you know how closely the wholesale departments of the major lenders adhere to the 2-3 year mortgage-specific license requirement? Thanks.
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chow
Joined: 22 Jan 2005
Posts: 2350
Location: Cornfield County, Indiana
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| Posted: Fri Jun 01, 2007 9:39 am Post subject: |
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| I would talk to the AE's that your signing up with. It would seem with the background you have, that you would be a much better candidate. 3 years of being a cube jocky in a boiler room mortgage operation wouldn't exactly qualify one as being able to run a mortgage business. |
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