BECOME A BROKER owner

HOW TO BECOME AN INDEPENDENT MORTGAGE BROKER.

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:

Set UP Compliance and Insurance

• Set up a compliance and management system.

• Contact your insurance agent.

STEP 4:

setting up your origination tools

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

• Obtain Loan Origination Software (LOS).

STEP 5:

Sign up with wholesale lenders

• Find at least three lenders to partner with that fit your needs.

• Learn more about protecting your business from questionable lending practices.

• Support and grow with the mortgage brokerage community: Association of Independent Mortgage Experts (AIME)

Ready to become an independent mortgage broker? Our team of experts have a custom, step-by-step plan to help guide you through the process.