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Information herein is for educational purpose only and is not meant to be a complete statement of all state mortgage licensing requirements. Additional State and FHA mortgage licensing requirements may be required. If you need further information, we would encourage you to contact us directly.
Louisiana May Require a Physical Office Very Soon
The Louisiana House just passed a bill requiring all licensed mortgage companies except wholesale lenders to maintain a physical office in the state of Louisiana. If passed by the house, the bill will be effective by August 15, 2007. Anyone already licensed in the state will have to show that they comply with this requirement by November 1, 2007. This leaves current licenses with about 75 days from the effective date to get a physical branch office in the state. Everyone outside the state is really hoping that the senate doesn't pass this bill.If you need assistance with licensing in Louisiana or obtaining a branch office located in Louisiana, contact us today.
07.22.2007. 22:48
Founder on 07.30.2007. 17:05
The senate has let this bill die in committee. It looks like you won't need to have a physical office in the state to be a licensed mortgage broker or lender. They house was trying to spur the economy with this bill, but fortunately the senate realized that this would reduce the ability for outside lenders to fund desperately needed loans in the state. Good job senate of Louisiana.
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