Mortgage Originator License - Commercial Loans

[Tony Gunter]

Hello BP Family,

Does anyone with solid first-hand knowledge about the following:

Is someone promoting or Soliciting customers for ONLY Commercial lending products, is that person (independent contractor) required to have a MOL? 

I imagine as these are Commercial Loans (only to LLC etc.) would be exempt under the SAFE Act as that was for consumer-based lending, not commercial based lending.

Enlighten me, please!

Thanks

[Tim Johnson]

It's probably not 100% accurate but one of our wholesale lenders goes by this chart so that's what I use for reference.  I never really do any loans out of the my licensed states, so I don't really have to worry.

Black is do not lend, because the lender won't do loans in that state because they are to difficult.

This is also the guidelines they follow for non owner occupied.