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refisbyjoe
90 Posts |
 Posted - 05/23/2008 : 1:59:32 PM
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| please feel free to call me. I have 2 NY Fha deals I need to do. Complete packages. Call Joe @ 916-384-5785 Thanks please leave a message with contact info. I will have a couple more deals to follow these. |
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refisbyjoe
90 Posts |
Posted - 05/23/2008 : 2:02:19 PM
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they don't have to go FHA.
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AK__47
745 Posts |
Posted - 05/23/2008 : 2:03:58 PM
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| The problem is YOU cant do them. You can give them to somone licensed in NY and they can do them. |
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AK__47
745 Posts |
Posted - 05/23/2008 : 2:04:52 PM
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| And they cannot pay you |
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fsboguy
3664 Posts |
Posted - 05/23/2008 : 2:06:20 PM
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| Because co-brokering is illegal. |
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refisbyjoe
90 Posts |
Posted - 05/23/2008 : 2:06:57 PM
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| got it thanks |
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AK__47
745 Posts |
Posted - 05/23/2008 : 2:37:54 PM
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quote:
Originally posted by fsboguy
Because co-brokering is illegal.
Co-brokering is not illegal. Both brokers would have to be licensed in the state though. |
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sfentress2
246 Posts |
Posted - 05/23/2008 : 2:59:41 PM
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| Try Bank United they sometimes will let you do deals if you are not licensed. |
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AK__47
745 Posts |
Posted - 05/23/2008 : 3:02:07 PM
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| Maybe the lender wont care, but if the state does it wouldnt be a good idea. I dont know If NY would allow it. |
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CoolMtgGuy
3704 Posts |
Posted - 05/23/2008 : 3:03:53 PM
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| In CT, anyone can do a "few" deals without being licensed. Definition of "few" is up to the licensing authorities. I would suggest that you check the NY rules carefully. Like CT, you may find that you could do this yourself. Otherwise, do right by the borrowers and refer them to someone you trust ... for no fee of course. |
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ddmortgage
297 Posts |
Posted - 05/23/2008 : 5:00:14 PM
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| I am from NY and they are becoming very strict here,Watch out! |
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syndicator
105 Posts |
Posted - 05/23/2008 : 5:12:37 PM
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In NY you can do five loans a year w/o a brick and mortar outlet. Why 5 I do not know.
Not sure if you have to register with state or what but you may want to look into it by calling Dept of Banking in NY, and possibly a lender. |
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refisbyjoe
90 Posts |
Posted - 05/23/2008 : 5:28:09 PM
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| thanks everyone. i didn't realize it was such a big deal. |
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