Want to start a mortgage lending business, question on capital

[Peter Mills]

Before this coronavirus stuff hit, I've been working on putting together a business plan and getting the necessary licenses to start a mortgage lending business. The last piece I needed to do was start talking to banks, but unfortunately social distancing has put a hamper on this.

I know the best source is still the banks, but I want to see if I can do my homework beforehand. What are the real-life details of how a line of credit works for a mortgage lending business? I'm sure the mortgages will be considered collateral, but what else should I know? How do they assess how big the credit line will be and what the interest rate will be?

Thanks everyone in advance, and please stay safe.