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Updated almost 8 years ago,

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2
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Stuart Stevenson
  • Commack, NY
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2
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Commercial Mortgage Broker's Commission in N.Y., no license?

Stuart Stevenson
  • Commack, NY
Posted
Anyone's expertise in this would be appreciated. In New York State, can an unlicensed mortgage broker legally take a broker commission on a hard money/private mortgage on commercial property? In short, does anyone know if the licensing laws for real estate brokers apply on mortgages on commercial property and do you need a license to take a commission? The mortgage amount would be approximately $500,000.

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