BECOME A BROKER OWNER

HOW TO BECOME AN INDEPENDENT MORTGAGE SPECIALIST

STEP 1

GETTING STARTED

  • Choose a business name and register it with the states in which you plan to do business.

  • Set up your business entity and determine what type of business is best for you.

  • Open up your business bank account and/or trust account.

STEP 2

LICENSING

  • Review state requirements for company licensing.

  • Start the application for your licenses on the NMLS website.

STEP 3

SIGNING UP WITH WHOLESALE LENDERS

STEP 4

SETTING UP YOUR ORIGINATION TOOLS

  • Sign up with a Credit Reporting Company (CRC).

  • Obtain Loan Origination Software (LOS).

STEP 5

SETTING UP COMPLIANCE AND INSURANCE

  • Set up a compliance management system.

  • Contact your insurance agent.

Ready to become an independent mortgage specialist?

Our team of experts have a custom, step-by-step plan to help guide you through the process.