Southern California Hard Money Lending

[Nancy Draper]

Hi: I am a CA licensed real estate agent. A hard money lender approached me to work for them finding new clients who need hard money loans. Do I need an additional license to work in this area, I know I cannot work for two brokers at once. The hard money lender indicated I would be paid through points on the successfully closed loan. I heard laws have changed in CA wherein mortgage brokers are no longer allowed to pay points on a loan??? Does anyone in CA have any answers/clarification, I am seriously thinking of doing this finder/referral job, but don't want to step into an area where I am not currently licensed to work. Any guidance?

[Will Barnard]

You should be asking your broker and then your attorney about this legal question. Any answer you get here may or may not be 100% accurate and when dealing with legal issues, you should consult a legal advisor.