[jeff614]

can anybody offer up a contact of someone who assists with the lender licensing process in California

[funding pro]

Are you looking for an attorney that can help with this or who to contact at the DBO to begin applying?

[jeff614]

an attorney that can help with the process...thanks

[abfunders]

Probably easier to just run the deal through a broker who has a CA license already and he'll just pay you out from his company. Don't let them take more than 20%.

[Advance Smart]

Good point Micah. Jeff if you would like to go that route we can help. We are California licensed so just message me if you have any questions. I would send you to the one that helped with ours but it was a few years ago and he has since retired. Much luck with the search though they are out there.

[jeff614]

thanks i found somebody

[Michael I]

Probably easier to just run the deal through a broker who has a CA license already and he'll just pay you out from his company. Don't let them take more than 20%.

a lender you do good business with and give them zero

[Karen37a]

Why do you need a lawyer to get a Calif license?

If you need to call a lawyer to get licensed you are new in the industry? And then you won't get approved?


http://www.dbo.ca.gov/forms/Finance_..._CFLL_1422.pdf


here is the nmls site if you want to become a Loan originator before you actually become acompany

This is to do resi...commercial you dont need it but just go pass it for the hell of it


https://mortgage.nationwidelicensing...s/default.aspx


And if its for mcas...makes $$ in other states then apply

This was on debanked...

http://debanked.com/2015/12/getting-...nders-license/

[jeff614]

not new in the industry, i got the help i was looking for...you can close the thread

[Karen37a]

lol ok

[Michael I]

karen are you licensed ? it is definitely not an easy process especially for someone who hates paperwork. One mistake or missed box and it takes an additional 2 months

[Karen37a]

karen are you licensed ? it is definitely not an easy process especially for someone who hates paperwork. One mistake or missed box and it takes an additional 2 months

I didn't make an attempt to do it. But hiring people into a stock brokerage firm ( that I managed at first then I owned one ) and then helping them get licensed with Finra formally Nasd, thru passing the series 7 and live scan fingerprinting. Gave me a lot of experience of which box to check and not check

Also had 1000 brokers cross my path to get licensed in the NMLS mortgage system..more experience

Insurance producers registery 500 licenced life insurance agents ..more expereince


So in a way yes I have done it before

[Karen37a]

edit **

[Karen37a]

edit

[Karen37a]

edit...not helping

[Karen37a]

Calif happens to the least friendly state for business
#1 running for 8 years in most business journals
Ceos are fleeing and taking their jobs out to other states

I do not need to take such a controversial product into such a place.
3-5 years from now you can read the white report on how" mca was no good in calif"
It might be a compliance( usuary) nightmare.
So many other states. I can avoid it or give the deal to someone else who is licensed in that state. Or even specializes in that state.
( i am not going into Canada either)

Raising Capital vs Licence in Calif

one person can ( or wants) to only do so many things


**outbound phone sales can also target certain states vs random inbound

[Michael I]

karen your distracting yourself . my point is that even ten year veterans of this industry need help with the California license, those that have done it know how complicated it was and how long it took .It does not make you a newbie to ask that question.

[Jplummer]

Look up attorney Barry Marks

[Hedley Lamarr]

karen your distracting yourself . my point is that even ten year veterans of this industry need help with the California license, those that have done it know how complicated it was and how long it took .It does not make you a newbie to ask that question.

Michael,

I agree. I don't care how long anyone has been in business.... If you are applying for a regulatory licences with a state agency or regulatory authority, you damn sure better hire a good attorney that can clearly advise on how you operate and has relationships with the regulators that can help you. I have been around capital markets for over 25 years..... Hire great advisors and always take the stance that the regulators are your friends, you will be much better off in the long run.

[Karen37a]

karen your distracting yourself . my point is that even ten year veterans of this industry need help with the California license, those that have done it know how complicated it was and how long it took .It does not make you a newbie to ask that question.

You may be right...but what might make you a newbie is not having enough sense to google something.

one push of the button the answer would have come up.

Also, it was posted on debanked...simple research would have taken 15 seconds

and most people who are successful in the industry have connections and Attys or know how to find one.

People who have been in /finance getting licensed for years never called an attorney..only people outside the loop say these things

or peoplle who are employees of Lenders / Banks /insurance...not independent contractors

different beast

[Karen37a]

I am not going to comment anymore because this is going to turn into an Employee mentality vs a Salespersons mentality


I do not respect sales people who have to take a salary

Or people who think they are special because they work "inside" vs the outside big baller huge commission guys.

have a great weekend

[Karen37a]

This was on Debanked

Digest the things they want and provide the required information. The deficiency letters are very detailed so it should be easy to make the requested changes. Resubmit the requested items and wait for the next response. It could be in the form of another deficiency letter but it could be an approval of the license. Just keep on trying until you are finally successful.

That’s it, you are finally a licensed lender in California! But that is where the fun begins. You are subject to many laws in California and audits by the State. To get the right to operate as a licensed lender, you need to make sure you prepare your application correctly. Once you have done that, you need to get all your loan documents drafted in compliance with California law. Make sure you have adequate experience and professional help to take on those tasks.


http://debanked.com/2015/12/getting-...nders-license/


An Attys number is on the bottom. he wrote the article . Since i have to Point diretly to it


( again...simple things...I can bet money some will never ever never ever never ever make it, .., no wonder certain peoples only marketing plan is to dig thru a deal bin,of almost non fundable deals then cry about the quality of deals etc.)

[Nikkiclean06]

not new in the industry, i got the help i was looking for...you can close the thread

Who did you find. I found a few that want to charge 2500 for the service

[Nikkiclean06]

karen your distracting yourself . my point is that even ten year veterans of this industry need help with the California license, those that have done it know how complicated it was and how long it took .It does not make you a newbie to ask that question.

Word Up!!!!

[WestCoastFunding]

Stop being so difficult, Karen.