Licensing
Requirements
Each state has its own particular licensing requirements for companies
who make loans. In some states, a lender can make a certain number of
real estate or commercial loans without even needing to register to
transact business in that state. More often, one or more licenses are
required under categories such as mortgage broker, mortgage lender,
mortgage banker, commercial finance lender, or the like. Utilizing our
Meritas affiliates where needed, we
have advised clients on the requirements of various states, helped clients
apply for licenses, and assisted clients in obtaining exemptions from
licensing requirements.
Federal
and State Regulations
The scope of federal and state regulation of lending activities can
feel overwhelming. We have assisted our lender clients in working through
various aspects of that regulatory maze. We stay on top of those issues
that are most current and pressing for our lender clients, and have
the affiliations, relationships, and resources to obtain prompt answers
and insights in those areas outside our immediate expertise
In the real estate lending area, for instance, we have considerable
expertise in federal and state regulations relating to RESPA, Truth
in Lending, Fair Housing, and the licensing requirements of mortgage
brokers. Gary Fallon has hosted WorkSmart
Seminars™ on aspects of the Fair Housing Act that affect lenders.
We also have familiarity with the laws that govern lenders in most of
the western states.
