I have been licensed, certified, sued and prosecuted.

Like I said in the interview, it's a state specific law, and states like Ohio can prosecute this activity in any manner they want to in relation to the way the statutes are written. 

If your business plan is to never ever close and always assign and you don't have the capacity to close ever and you don't put down a reasonable earnest money, and you are not agent licensed, Florida is gearing up to prosecute you.

It is not out of the realm of possibility that banks will catch up to this and look back and try to prosecute people who have abused this.

The mortgages were not paid and went into foreclosure, resulting in losses of over $3 million since the lenders were only able to recover a fraction of the outstanding mortgage balances when they sold the properties after foreclosure.This prosecution was brought by the Mortgage Fraud Task Force, made up of investigators from the Federal Bureau of Investigation; the United States Secret Service; the United States Postal Inspection Service; the Department of Housing and Urban Development, Office of Inspector General; and the Lansing Police Department.

They cited the case of an ACTIVE prosecution of an individual "wholesaling" illegally.

The conversation last response before me was just a few hours old.I am responding to someone saying "what if I don't know about the laws, how can someone prosecute me for something I didn't know was illegal".I am responding to that.As to your question.

The OP will be opened up to criminal prosecution for a federal offense by committing mortgage fraud.

They realize that licenses and possibility of severe criminal prosecution isn't worth the risk.

I prosecute people for a living.