News 2024-01-15
SEC Due Diligence Essentials
Key steps to ensure your due diligence process meets SEC requirements.
Read More →SEC Compliant?
Is your company SEC Compliant?
The foremost attorney on mortgage licenses in the US
What? Who? Why? Where? When? How?
What?
To be compliant with the state laws, your Company MUST hold NMLS Mortgage Licenses or Exemptions.
Who?
Every new Company entering the Mortgage Industry must ensure SEC compliance.
Why?
Your Company's violations of state and federal laws [SEC and Licensing] will cause Penalties, Fines, and Cease and Desist Orders.
Where? When? How?
All 50 states and DC. Before your Company starts business. Herb Thomas will design and conduct your Due Diligence Project.
SEC Due Diligence Requirement
Please ensure your mortgage licensing is in full compliance with applicable federal and state regulations.
Need Mortgage Licenses or Exemptions?
Consult with Herb Thomas, the foremost attorney on mortgage licenses in the US.
What is a Due Diligence Project?
Goal
The due diligence project is conducted to help satisfy your fiduciary duty to your investors to reveal all risk factors related to mortgage licensing and state law compliance.
The Due Diligence Project Process:
1
Business Model Review
Review details of the Company's mortgage lending activities
2
State Law Research
Research applicable state licensing statutes to determine if licenses are required
3
Agency Requests
Make formal written requests to state licensing agencies to confirm research results
4
Status Inquiries
Conduct follow-up inquiries and encourage agencies to provide written responses
5
Analysis & Recommendations
Analyze responses and recommend either relying on written confirmation or pursuing licenses
6
Documentation
Provide comprehensive documentation for investor disclosure
SEC Compliance Checklist
Mortgage Industry Licensing Needs
Determine which licenses your mortgage business entity requires:
Not sure which licenses you need? Contact our licensing experts for personalized guidance.
Need Mortgage Licenses or Exemptions?
Get in Touch
Have questions about mortgage licensing? Contact us today.
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