Florida license generator4/5/2024 “Soliciting” or “assisting” borrowers are the most common licensing triggers. Most states define the activities of a mortgage broker, mortgage banker, or consumer loan company very broadly, using action verbs such as “soliciting, processing, placing, negotiating, assisting, etc.”. First, it is necessary to carefully read state licensing statutes and regulations. In order to determine whether or not a state license is required for lead generators, a two-step analysis is required. DETERMINING LEAD GENERATOR LICENSING REQUIREMENTS Lead generation companies should take precautions to ensure that they are in compliance with licensing laws before conducting lead generation activities in any state. It is important for companies involved in the mortgage lead generation and consumer loan lead generation businesses to be aware that their solicitation activities may trigger licensing requirements under state mortgage licensing or consumer loan licensing laws.
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