Corrections
I found some more information about licensing.
I read some of the FAQs on****Must Reach Freshman Investor status before posting URL's***
and there was a question and answer that I didn't understand can someone explain this to me:
FAQ question-Do I need to be licensed as a Mortgage Broker or Lender in order to broker the sale or purchase of closed mortgage loans? If I purchase such a portfolio, must I be licensed to service the loans?
No license would be required for either activity, provided the sale is an arms-length, bona fide transaction and not merely a sham designed to avoid the application of the Act.
What does that really mean?
Thanks
Z
Looks like I was wrong all together. You do need a license. Well back to the drawing board.
Thanks
Z