Broker License

[Orlando Rodriguez]

Hello and Good Sunday Morning:

I have a question and I have already read the answers to this particular question, so bare with me!!

I am in the business of buying and selling Notes (Commercial and Residential) also Non Performing Notes through Banks and Credit Unions.  

If I find an Owner Financed Note Holder that is willing to sell his/her Note and I submit the deal to an Investor/Cash Buyer and this Buyer purchases the Note and pays me a Finders Fee, do I need a Real Estate Brokers License for these kinds of transactions not only here in California but all 50 States??

There seems to be 2 different answers to this question!  Yes I do need a Brokers License and No I don't need a Brokers License!!  

Please let me know!  I am a bit baffled by this!!

O. Rodriguez

[Jay Hinrichs]

@Randy Johnston I think CA is probably the only state that acts like this.. but a CA real estate broker licesne is needed to do HML... or NMLS or Consumer finance license need one of the three.

when I ran my HML shop in Oakland I ran it under my CA brokers license.. although I am in Active now in CA I still have the license in case I wanted to fire up Notes or HML in CA.. I am legal.

here in Oregon you need full blown NMLS... this is why most folks decamp over the river to WA to do this activity as it requires no license there.. but if you making loans in ORegon you still need the license..