Our licensing and compliance team understands the unique issues faced by private lending businesses like yours. We are well equipped to bring you peace of mind with every loan — no matter the state.
50-State Surveys: Licensing and Compliance
Scaling a lending business presents challenges due to the variety of requirements and regulations across states. As the largest private lending law firm in the U.S., we are well-versed in the intricacies of lending regulations across all 50 states and can provide the guidance you need for a successful expansion.
50-State Licensing
Expanding your lending operations to a new state requires thorough knowledge of licensing requirements. Our comprehensive licensing research covers requirements for all parties through the life cycle of a business purpose mortgage loan, including loan originators, processors, underwriters, brokers, lenders, servicers, sellers and purchasers, and owners of mortgage servicing rights. We provide clarity on whether a license is required and even explore the possibility of leveraging a broker’s license.
Each state’s summary details:
The surveys also contain information on:
- When a broker's license is required
- When a mortgage lender's license is required
- When a license is required to service the transaction
- Whether a loan originator's license is required
- Whether a license is required to buy a loan(s)
- Whether a license is required to sell a loan(s)
- Whether a license is required to buy & hold MSRs
This is especially helpful for those currently use or plan to use Lightning Docs for drafting files. The Lightning Docs system will automatically insert all the necessary language and documentation to make for a smooth closing process; however, it does not provide protection if loans are arranged without the appropriate licenses in place.
50-State Compliance
To ensure compliance, you must be aware of each state’s list of requirements. Protect your investments with these supplementary surveys:
- Choice of Law
- Collection Agency Licensing
- DBA Filings
- DoT Trustee Requirements
- Late Fees
- Licensing Non-RE Secured Loans
- Licensing
- Mechanic's Lien Laws
- Mortgage Taxes
- Prepayment Penalties
- Referral Fees
- Table Funding
- Unlicensed Lenders Funding Through Licensed Brokers
- Usury
*Note that the document above contains all surveys grouped into one. Each survey is available separately.
Explore our Licensing & Compliance content
If you’d like more information about our 50-State Surveys, please reach out to our team below!
Contact Our Banking & Finance Team
Please note that our firm focuses primarily on private lenders. Unfortunately, we are unable to assist with consumer matters.
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