A RMLO in massachusetts

4 Replies

Hi,

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

http://www.biggerpockets.com/forums/83/topics/1757...

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?

Thank you.

@Bill Smith

www.sellerfinanceconsultants.com

is the best - ask for Mark or Terry.

I am from Mass originally.

I would ask

@Shaun Reilly

@Ann Bellamy

@Paul Timmins

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.  

@Brian Gibbons would you mind explaining the importance of  "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?" Why is this important? Who do you give the letter to? 

@Ann Bellamy , why are they a dying breed?

     Thank you.

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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