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Updated over 2 years ago on . Most recent reply

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Tony Caputo
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Mortgage Brokers & Lenders

Required to be licensed in state of loan to share a commission?

Tony Caputo
Posted

Can a mortgage loan officer licensed only in one state, such as California, receive a percentage of the commission for a loan actually done in Nevada as payment for referring that client to another mortgage loan officer licensed in Nevada, or does the mortgage loan officer need to be licensed in Nevada in order to share that commission?

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Hamp Lee III
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  • from San Antonio, TX
  • Member since Jan 5, 2019
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Hamp Lee III
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Hamp Lee III
  • Real Estate Agent
  • San Antonio, TX
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Hamp Lee III
  • Real Estate Agent
  • San Antonio, TX
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Quote from @Brian Bohrer:

That is a great question! I do not believe that you have to be licensed in the state of where you sent your referral, but I am not certain.

I will be watching this thread closely to see what the actual answer is as I just earned my MLO license as well, and am very interested in the official ruling.

Thank you for the post!

 @Joel Allen

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