New Agent Looking for Right Copany in Ohio

[crawfordian]

I want to be able to sell life, property, accident, and want to be sponsored by a mutual company, so I can use the whole life products to their fullest extent. I also need a company that is willing to sponsor me for a series 6 and not have any issue with the fact I still have a current mortgage loan officers license on the state of Ohio and I am not planning on getting rid of it. The series 6 license and mortgage lending business's would never get mixed together. My business would be providing a a rather large range of financial products to all my customers.

 

[mmike160]

Re: New Agent Looking for Right Copany in Ohio.

Umm, how do you plan on originating FHA mortgages, if you have an insurance license? I don't think HUD will allow it...

 

[crawfordian]

HUD doesn't have any issue with this. What HUD has an issue with is realtors that are also loan officers

 

[xrac]

I want to be able to sell life, property, accident, and want to be sponsored by a mutual company, so I can use the whole life products to their fullest extent. I also need a company that is willing to sponsor me for a series 6 and not have any issue with the fact I still have a current mortgage loan officers license on the state of Ohio and I am not planning on getting rid of it. The series 6 license and mortgage lending business's would never get mixed together. My business would be providing a a rather large range of financial products to all my customers.

The question of the Series 6 and the mortagage loan license is an unknown that would have to be addressed by the BD. I would fly this past their compliance officer before I did any paper work. At the least it would have to be disclosed as outside business activity.

 

[mmike160]

Refer to ML 2008-24 for the new guidance for HECMs and the applicable restrictions. Regarding all FHA mortgages, any one in the employ (staff or management) of an FHA approved lender working also as an insurance agent, certified planner offering other securities such as mutual funds, stocks, and bonds, can NOT offer any product involving, or have any relationship with, the real estate, mortgage lending, or related fields, including the FHA lender that employs the insurance agent or certified planner. For example, the insurance agent could not sell property/hazard insurance, mortgage life, and the certified planner could not offer any products related to real estate or mortgages.