Apparently in CA this is considered employer-housing and he is a licensee.

In states that do not require a licensee obtaining a real estate license isn't necessary to becoming a successful wholesaler.When it comes to getting a property under contract, motivated sellers want to know that you have the ability to get the deal closed, are credible and have a good reputation.Best,Johnetta

(c) No cause of action shall arise against an appraiser of real property, a licensee as agent of an owner, or a licensee as agent of a potential or actual transferee of real property for failure to inquire about, make a disclosure about, or release information about the existence of any fact or circumstance or suspicion of the existence of any fact or circumstance that indicates that the real property is psychologically All that being stated, I'd leverage the heck out of the situation in dealing with the bank...

The Agency’s investigations are complaint driven, so we rely heavily on the public, and our licensees to bring these individuals to our attention.

Honestly as a fellow licensee you are actually an embarrassment to the industry. 

To add another twist to this, it seems that Real Estate Licensees get special consideration as rental activities including acquisition, sale, and management of those rental properties may be considered NON PASSIVE (active) due to the professional occupation. -- I am a real estate broker.

Retail buyers get the same info at just about the same time as real estate licensees, and the listing agents are present at 99% of all showings so in most cases you're not going to getter better access to info or seeing properties.

Licensees usually say yes and the non-licensees say no. 

if this is not done by a licensee it is illegal.

In California if you do 8 or more wholesales a year you need a licensee by law