I'm interested in doing lease option assignments in Massachusetts, and would like to find a RMLO who would be interseted in this. I came across
and following @Brian Gibbons recommendation contacted
[email protected] He answered:
Currently we are in the west coast states and as well Texas and Florida. We have access to Maryland as well. We can add others on a need basis. It would cost us $150,000 a year to be licensed in all 50 states so again we can add them on a need basis. We are not yet licensed in Mass. We can get licensed in all but 10 states and I believe that includes Mass. You can look up the state map on our website.
Is anyone aware of a licensed mass RMLO for this technique?
is the best - ask for Mark or Terry.
I am from Mass originally.
I would ask
if they know
a) any RMLOs in MA
and more importantly
b) would the RMLO be willing to write a letter as to the POTENTIAL of the borrower to be to get a mortgage down the road?
They are a dying breed. Not even sure if I know any in my area. At least not any that aren't working exclusively for a particular financial institution. I'll ask around.
New regulations after the financial crisis restricted the compensation of LOs, and increased regulation, so it effectively made it much more difficult to make big money as an independent.
And since I know very little about residential lending and even less about LO compensation, you now have the sum total of my knowledge on the subject. Which you can see is pathetic.
I do have a connection in MA, send me a PM and I'll give you his email address.
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