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Legal Question on Mortgage Investing

Discussion in 'Mortgages & Financing' started by Ubiquitous, Jan 17, 2019.

  1. Ubiquitous

    Ubiquitous Law Topic Starter New Member

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    Jurisdiction:
    Oregon
    I have a question about the legality of a situation.
    A friend works at a mortgage company where the owner is the branch manager and is no longer licensed as a Mortgage Loan Officer, but profits when loans are closed. He markets to his data base to his investor clients, as he has a few investment companies also. Can he market to all clients, with information aimed toward investing, if he knows some of the clients will want to get a mortgage done with his mortgage company, thru a licensed loan officer to whom he refers these clients? He will be profiting from the mortgage side to provide clients access to their equity and he will profit from investment side, leveraging equity and buying and selling properties with the same clients?
     
  2. army judge

    army judge Super Moderator

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    I suggest you ask the lending regulatory and/or banking authorities in your state, Oregon.
     
  3. adjusterjack

    adjusterjack Super Moderator

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    And the US Securities and Exchange Commission.
     
  4. Ubiquitous

    Ubiquitous Law Topic Starter New Member

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    Thank you for the advice; all the best!
     

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