Finding a licensed note broker

[Adam Cohen]

Hello BP Community,

How does one find a licensed note broker in your area ? I live in New Jersey, for example.

Thanks,

Adam

[Bob Malecki]

Originally posted by @Adam Cohen:

Thank you all. I am considering the purchase of mortgage notes and wanted to do so only form someone who is reputable and licensed. I assume that not just anyone can sell notes. Am I wrong ?

 For the most part yes. If you are buying the note from the current lender, no license needed. If you are buying through an individual broker or bird dog, not necessarily although you should get references from that person and do some due diligence on them. Also consider setting up escrow for the purchase if it is thru an individual.