Notes, MLO refinance to flip

[Account Closed]

I have a question that is related to buying non performing notes. I am looking into becoming an MLO and want to also own mortgage notes. Would it be possible (sensible, profitable, and legal) to offer a borrower to refinance a note I own, through myself, with the intention to either collect on the cash flow or sell the note while it is new and current? ( ps. I am very new to this and I am asking this question with the limited understanding that an MLO is one who has the legal right to create mortgage agreements.)