Licensing Requirements For Private Lenders/Hard Money Lenders

Hello everyone, the question I have is about licensing requirements for private lenders and hard money lenders. I would be very greatful to all any hard money lenders, brokers, or other persons working in the mortgage industry can answer my question.

My friend spoke to an individual that stated he works with private investors nationwide and that he has been in the mortgage industry for a certain time. When my friend asked him if he has a license number to broker loans in a certain state, he informed my friend that there is no licensing requirement for private money and commercial real estate transactions, only residential owner occupied. Is this statement correct?

Thanks alot for reading this message and replies.

yes