Does the Managing VP in a MTG Brokerage have to a DRE license in California?
I work in a mortgage brokerage and mortgage bank in California and have found out that the managing VP (who is in charge of the loan officers) has an expired license and has not renewed it in more then 10 years!
What stricks me as odd is the fact that the company requires all assistants to the loan officers to have a license yet HE doesn’t!!!!! We have a mortgage bank—and when an underwriter refuses to clear a condition HE has the authority to override anything. Second, I hear him talking about rates to clients on behalf of the loan rep. There is something going on.