Posted by Ed Copp (OH) on May 20, 2005 at 19:12:31:
A mortgage broker I presume is what you are talking about. This is not the same as a Real Estate Broker.
Illinois Changes It’s RE broker Laws - Posted by Claude Johnson
Posted by Claude Johnson on May 20, 2005 at 12:33:15:
It’s official… As of May 16th, If you want to do business as a Mortgage broker in Illinois,you have to be individually licenced, (No more blanket licences thru your brokerage house) and take a test, and be fingerprinted (Welcome Big Brother!)
This news has just knocked me out of the water.
Hopefully I’m not violatiing any rules here but…
So now … Just about everybody I got in my database is null and void,
Who is there- out there that is properly licenced and can do 4-units residential in Illinois for me??
Stated income/asset
@100% -interest only-with 6 month reserves???
Or anything -for that matter??
I got three good deals on the burner that are gonna go south now…If I cant find anyone to fund them