Broker Requirements
We're looking for people who want to make a positive difference for their customers. Below is a list of requirements to become approved with Parkside Lending as a Broker.
- 620+ credit score for all owners with 5% or more ownership interest in the company
- No current or pending litigation that would adversely affect the ability to fund loans or run the business
- Fully executed broker agreement/contrac
- Minimum 2 years industry experience
- Three lender references in good standing
- No derogatory information listed on MARI
- No derogatory items listed on state license
- Meets minimum net worth as required by state licensing with
- 100% of minimum held in cash or equivalents
- Must be licensed in any state where loans will be originated
- Must carry a NMLS endorsement for the company, branch and each individual loan originator
- Physical location verified by Account Executive visit
- Business license must be in the state where main office is located
- May not be on any exclusionary list for any Parkside investor
- Errors & Omissions Policy - Please provide a copy of the policy or declaration page. The requirement is the greater of $0 or the amount your state licensing requires. We reserve the right to require more if deemed necessary.
