HOW TO BECOME AN INDEPENDENT MORTGAGE BROKER.
STEP 1:
GETTING STARTED
Choose a business name and register it with the states in which you plan to do business.
Set up your business entity and determine what type of business is best for you.
Open up your business bank account and/or trust account.
STEP 2: LICENSING
Review state requirements for company licensing.
Start the application for your licenses on the NMLS website.
step 3:
Set UP Compliance and Insurance
STEP 4:
setting up your origination tools
Sign up with a Credit Reporting Company (CRC).
Obtain Loan Origination Software (LOS).
STEP 5:
Sign up with wholesale lenders
Find at least three lenders to partner with that fit your needs.
Learn more about protecting your business from questionable lending practices.
Support and grow with the mortgage brokerage community: Association of Independent Mortgage Experts (AIME)
Ready to become an independent mortgage broker? Our team of experts have a custom, step-by-step plan to help guide you through the process.