Credit report & referral fees for Lease/option tenant buyer

[PATRICK_TOWN]

I am a W-2 loan originator/branch manager with a large mortgage banking firm. I also own a Lease-Option Purchase website that facilitates the seller/tenant-buyer association.

Qestion 1: Can legally pull credit on a prospective tenant-buyer (with their authorization) who does not want to buy, just lease with the option to buy? (no loan provided or processed)

Question 2: Can the tenant buyer pay my me or my website (LLC) the intial deposit, while I am still a W-2 loan originator? (no loan provided or processed)

Thank you for the input...PT

 

[Michael Wechsler]

To begin, every state has its own law so we can't help you without it. Second, what does your firm say? If you're large, I would assume someone would know the rules... no???