Fico Requirements for Broker Lic.?

**beachbob** · 01-29-2008, 07:43 PM

Does anyone know what kind of standards are acceptable when applying for your brokers lic? When they run your credit are there certain score cut offs or certain negative items that would exclude you from becoming a broker? TX for any post

**Mike Taylor** · 01-30-2008, 04:36 AM

To my knowledge, no state runs credit when you apply for a license. The only thing you should be worried about is if you have committed an act of "moral turpitude".

**FlatFeeKing** · 01-30-2008, 05:15 AM

Why would they run your credit to get your brokers license? Just pass the test, send it off, and if you havent broken any major laws you will get it sent back

**krolfe** · 02-01-2008, 09:51 AM

You shouldn't have any problems obtaining your broker's license with a bad FICO. I can see that being an issue if you are trying to open your own office because you would need to lease/buy office space. That is where I see your FICO coming into play.

**HardMoneyDr** · 02-01-2008, 02:16 PM

Originally Posted by beachbob

Does anyone know what kind of standards are acceptable when applying for your brokers lic? When they run your credit are there certain score cut offs or certain negative items that would exclude you from becoming a broker? TX for any post

I don't think it's a major issue. Be up front about anything that would come with a potential employer on a routine check.