Question: If someone is a credit repair consultant, can they become a licensed NMLS loan officer sponsored by a mortgage company? I heard that credit repair professionals are not allowed to become loan officers. Or is the fact that a credit repair consultant cannot work on credit repair and loan origination with the same client?

I was asked to come to GCA Forums to get the right answer to whether it is better to open your own mortgage broker company or try to get hooked up with a mortgage lender and open your own P and L net mortgage branch? What are the pros and cons of owning your own mortgage net branch versus having your own mortgage brokerage company? What are the two start up costs of having your own mortgage broker company versus a P and L mortgage net branch of a national mortgage lender. @Bill Burg