Financing and Licensing
- Financing. We assist clients in determining the best financing options for their customers (retail installment sales, mortgage loans on a direct or indirect basis, etc.) We often make client-to-client introductions to bring our lending and sales finance company clients in touch with contracting clients seeking better or alternative finance options.
- Financial Licensure. We counsel clients on the complex interplay of revolving, retail installment and mortgage lending laws in all fifty states. Many clients are not aware that retail installment sales arising from home improvement transactions require separate licensing for both the lender and the contractor in many states, and in some states require licensing as a mortgage lender or broker as well. Purchasing lenders must be careful to ensure that indirect purchases of consumer credit paper have valid origination. This means providing counsel and compliance checks to contractors to ensure that the contractor maintains the proper financial licensure for originating the paper.
- Home Improvement Licensure. We handle contractor licensing issues, from approval to compliance issues, in all fifty states. We have ongoing relationships with state agency licensing personnel in many states. This allows the client to ensure that they obtain and maintain necessary licensure state-to-state.