Wholesaling Notes

[Teri M.]

I've been reading the forums and i also am interested in non performing notes. They say u have to get a mortgage broker's license to do business legally but cant u just wholesale the note just as you would the property it self? Put a contract to buy the note then wholesale it to another investor, this can be done right... Please correct me if im wrong. Also if i am right would i have to put emd on note?