Can a 16 year old be a mortgage loan originator?
Too Cool asked:
This is located in the state of Virginia. I was told that I didn’t need a license but couldn’t get a straight answer on the age thing.
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This is located in the state of Virginia. I was told that I didn’t need a license but couldn’t get a straight answer on the age thing.
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Tags: Mortgage Loan Originator, State Of Virginia, Straight Answer
February 13th, 2009 at 11:09 pm
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In most states, a person must be 18 to be able to sign a loan by themselves.
February 15th, 2009 at 2:53 am
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How about a yes and no answer. No you probably can not legally enter into a contract so you can’t be a loan originator in the sense of an employed person.
However you could, for instance, help a loan company find clients and they can, with your parents approval and support give you finders fees - through your parents.
February 16th, 2009 at 2:26 am
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You need to check with the state of Virginia. There is a website that does training for originators mymortgagetrainer.com If someone is 18 or over, my company is hiring nationwide full or part time.
February 18th, 2009 at 3:38 am
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No, in order for an individual to legally enter into an enforceable contract, they must be 18.