No, financing broker does not need to look after a physical place of work on condition
Because the defined throughout the Maine Credit rating Code, the expression financing representative function anybody that provides or also provides to own adopting the features getting payment: boosting a consumer’s credit score, record, otherwise get; organizing to possess otherwise obtaining an extension from credit to have a consumer; or getting guidance otherwise assistance to a customers regarding the procurement out of consumer credit or perhaps the improvement your personal credit record, record, otherwise get. Loan agent does mean any individual just who functions as a facilitator away from a reimbursement anticipation loan or reimburse anticipation view, in the event in return for the brand new separate commission of money or other beneficial believe.
But not, it does have to be subscribed by Maine Agency regarding Credit rating Cover, and joined once the a different (i.elizabeth.) out-of-state) enterprise towards the Maine Assistant out-of State’s Corporate Division’s Office. A loan agent should article a $25,000 surety bond for every single signed up venue (head place of work and you may twigs).
No, you certainly do not need early in the day feel as aloan representative so you can qualify to have a license. not, Agency licensing criteria require the Manager find the monetary obligation, profile, and you can physical fitness, of applicant, and you can where appropriate, its lovers, officers, or directors, guarantee religion the company might possibly be operated really and you may fairly within the reason for so it Maine Credit Code
Sure. Maine means mortgage officials employed by financing agents and you can non-financial lenders manage a licenses for the Agency. Read more
