Does a commercial mortgage broker in NY State requires any licensing?
Jamaica, NY |
If a business located in NY State arranges loans (commercial real estate, equipment leasing, small business loans etc.) between borrowers and lenders for a fee, do they need to have a license to operate in the state?
Yes. Article 12-A of the New York Real Property Law requires you to be licensed as a real estate broker in order to arrange/negotiate any type of commercial real estate loan secured by a mortgage. I have included a link to the relevant portion of the NYS Department of State website below. Good luck.