What telemarketing activities require a license for a company that solicits and sells mortgage leads?
The requirement for a license depends on the information taken, which might be an “application” for state licensing purposes. The following information applies to “telemarketing” – whether the information is obtained via standard phone solicitations, or through internet lead generation. • Telemarketers who accept applications for loans on their own initiative from consumers and without a contract from a licensee for sale of the contact to licensees are required to be licensed under the Act. • Telemarketers who contact Georgia consumers and generate a list of potential residential mortgage contracts under a written contract from a licensee are not required to be licensed, provided: • The telemarketer makes it clear that they are contacting the consumer on behalf of (a) specific licensee(s); • The fee for the service is on a “flat-fee” basis, not a “per-loan” basis or a closed loan fee basis; • The company must be in the telemarketing business and not perform other mortgage related funct
