Legal Question in Investment Law in California

I was looking into becoming "note finder" in which I find private "note holders" receiving monthly payments from a promissory note secured by a trust deed and referring these individuals to investors of these promissory notes. What process would I need to take to make sure that my services are legit?

Asked on 3/04/13, 3:50 pm

2 Answers from Attorneys

Timothy McCormick Libris Solutions - Dispute Resolution Services

Sounds like you need a Real Estate Broker's license or a Real Estate Finance Lender's License (i.e. a mortgage broker's license).

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Answered on 3/04/13, 4:14 pm

Bryan Whipple Bryan R. R. Whipple, Attorney at Law

I'd say one or the other of the licenses mentioned by Mr. McCormick would be a minimum. Under the expansive definition of "securities" in securities law, you might also need a securities dealer's registration. Check with the California Department of Real Estate and the National Association of Securities Dealers (NASD).

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Answered on 3/04/13, 6:32 pm

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