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net branch » Opportunity » Maine

Mortgage Net Branch Maine

What Qualifications Must I Have to Open and Operate a Mortgage Net Branch in Maine?

To open and operate a net branch in Maine, you must be a licensed mortgage broker. However, this is very easy to accomplish, so with only a little effort on your part, you're on your way to participating in a ME mortgage net branch opportunity.

What exactly is required to become a mortgage broker?

You want to have the education you need to become a successful mortgage broker. You can obtain this education by attending real estate classes or taking online courses. You want to make sure your real estate school or the educational institution you receive your education from is accredited, and that Maine recognizes degrees, diplomas, or certificates from the school or institution.

And, of course, a number of years experience in the real estate field is very helpful, and in some states may be required before a mortgage broker license will be issued.

What if I've got the education and/or experience? What do I do then?

If this is the case, you take the following steps:

  • Complete the application.
  • Provide two reference letters written by people who hold some type of a professional position. These must accompany all applications submitted.
  • Provide proof of a surety bond in the amount of $25,000.
  • Submit the application, reference letters, and surety bond proof along with a $400 application fee. Bear in mind that this fee is not refundable.

Do I have to have an office anywhere in the State of Maine in order to qualify for a mortgage broker license and open a net branch?

No, you are not required to have a physical location in order to be eligible for a mortgage broker license however, the mortgage company you contract with will most likely require you to have a physical location as part of licensing and opening a mortgage net branch in Maine.

 

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