What process do I need to follow in order to be appointed by your bank a loan broker
Each bank has their own process for approving outside loan brokers. In most cases you’ll need to obtain special licensing from your state. This may include real estate salesperson or real estate broker licensing, plus special education for loan brokers. Most licensing is handled by the state, though classes can be taken through local real estate offices or real estate schools.
Once you obtain the necessary licensing you’ll ask to speak with the bank’s wholesale office or broker representative. They’ll ask you to fill out an application which will include information about licensing, the company name you work under, the amount of loan volume you expect to close, and the amount of loan volume you have closed in the past.
You may be asked to submit proof of licensing and deal volume to become an approved broker with some of the larger national commercial banks.
