I have been asked to be broker of record for a mortgage company

Status
Not open for further replies.

whatamess

New Member
I understand what that means as far as real estate goes, my question is more about corporate liability. In CA, if you are going to be the broker of record for a Real Estate or Mortgage company the Department of Real Estate says we can go about it one of 2 ways 1) I can be named as an officer in the articles of incorporation or 2) They can all work under my corporation and I can get a DBA with the DRE to use their name ( they company is already existing and they want to keep their name). Our mutual goal is for me to be the broker and nothing more. I do not want an ownership interest in that company. We will have a pay agreement and that is it. If I am named an officer, what kind of liability am I taking on?
 
Status
Not open for further replies.
Back
Top