The Louisiana House just passed a bill requiring all licensed mortgage companies except wholesale lenders to maintain a physical office in the state of Louisiana. If passed by the house, the bill will be effective by August 15, 2007. Anyone already licensed in the state will have to show that they comply with this requirement by November 1, 2007. This leaves current licenses with about 75 days from the effective date to get a physical branch office in the state. Everyone outside the state is really hoping that the senate doesn’t pass this bill.
If you need assistance with licensing in Louisiana or obtaining a branch office located in Louisiana, contact us today.