Work for Lender, Want to Invest Privately - Posted by Anon

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Posted by John Merchant on April 15, 2007 at 13:16:46:

The law in your state might or might not prevent your carrying on a pvt lending operation.

Generally, a business or commercial loan is not a licensed field as the legisltures generally figure that anybody doing or getting business or commercial loans doesn’t need state protection.

So likely it’s not illegal for you to engage in private bus/commercial lending.

But consumer and residential lending is likely licenseable activity in all states so probably you can’t do that without a license for same.

You say you “work for” a lender, so they might have a say in whether they want you doing other lending outside that company.

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Work for Lender, Want to Invest Privately - Posted by Anon

Posted by Anon on April 14, 2007 at 19:45:42:

I work for a large “2nd market lender”, they specialize in all types of consumer and business loans but primary focus is on 1st and 2nd mortage loans and commercial real estate loans.

Few questions, is it illegal for me to engage in private investor activities (through notes or land deals)?

I was looking to acquire a mortgage broker license, too. What that cause any conflict with the line of work I do if I pursue private/personal deals?

Thanks