Consumer Lending question
Do I need to a degree, certification, or state licensing to sell personal and commercial loan in a bank? I know the mortgage loan officers have to pass a state license to sell mortgages but I’m not sure about selling other loan products. Appreciate any info.. Thanks.
I'm sorry but I do not know
No not unless it's multiple car sales . Unlicensed can only sale 8 cars a year . Any other stuff that's personal less u are opening a thrift store doesn't require a thing !!!
No the only thing you need a license for is annuities. Everything else is open for anyone. Even mortgage just asks for a SAFE background check.
No its a scam by the state and they know it but make you pay for it anyway.
Check your state website for specific licensing and/or certification info. Expect a background check and fingerprint processing.
Rhonda, I can't imagine any state not requiring licensure for financial products advice. Every state that I have worked (and there have been many on the east coast) require licensure for each financial product you represent (life, auto, homeowners, health, retirement, investment, loans etc.). Selling or advising on the product requires specialized training and your licenses demonstrate your special abilities (theoretically like your driver license but I won't go there). Your licenses will also require renewals and continuing education to qualify for those renewals. On the plus side qualifying for a license is reimbursed by an employer upon proof of successful completion and your licenses travel with you from employer to employer within your state. I hope this helps.