Are Mortgage Brokers considered SSTB's - Spidell

Are Mortgage Brokers considered SSTB's

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Message Board Are Mortgage Brokers considered SSTB's

This topic contains 1 reply, has 2 voices, and was last updated by Sandy Weiner 9 months, 2 weeks ago.

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  • #141307

    Would a mortgage broker be considered an SSTB?  I know that brokerage services with respect to securities are considered an SSTB, however, real estate brokers and insurance brokers are not included.  I would think mortgage brokers would not be included as well, but I am not sure.

  • #141626
    Sandy Weiner

    No. The final regs are limiting the brokerage SSTB to those brokers dealing in securities, so mortgage brokers are not considered SSTBs to the extent of their loan origination businesses. However, if they are offering any other type of financial services, they may be treated as a financial services SSTB.

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