Dallas-Fort Worth Real Estate Investor Club

private lender license?

  • 14 Mar 2018 9:41 PM
    Message # 5979505

    Do you need a license to lend money in Texas?

  • 15 Mar 2018 12:30 PM
    Reply # 5980539 on 5979505

    I am a lender.  My attorney has advised me I do not need a license as long as I stick to these constraints:

    There is no problem making loans to investors.

    If I make a loan to a homeowner, I need to use a licensed RMLO and do not give any cash back the homeowner.

    I do not service loans originated by others, I only service loans I originated.

    I hope this helps,
      Neil Aggarwal
      Property Financing, LLC

  • 15 Mar 2018 6:47 PM
    Reply # 5981107 on 5979505

    Perfect. Thanks for sharing.

Powered by Wild Apricot Membership Software