I have been in the business over a decade and have to point out that many loan officers think there is no licensing requirements to be able to broker commercial mortgages, but you would be wrong about the licensing issue if you thought that.

NJ requires you to be a licensed real estate salesperson or broker as does California. Several other states have licensing requirements as well, so do a search on the state by state department of banking or real estate sites to see how many states do require licenses of commercial mortgage brokers.

Don't get caught by a regulator without a license or you may be paying fines much higher than that commission you made on that loan.

I operate a commercial mortgage and business loan company in NJ and recently discovered the licensing issue in my home state and while I am not happy about it, I am thankful that I found out ahead of a $10,000 fine and the loss of being able to get a license in the future.