Your real estate license will not qualify you to be a residential mortgage broker. Acting as a mortgage broker on residential properties of four units or less (or land which is being developed for such a use) -- requires a license under the Mortgage Brokers, Lenders and Servicers Licensing Act, with the Office of Financial and Insurance Services, Consumer Finance Division, P.O. Box 30224, Lansing, MI 48909 (517) 373-0220 or toll free 877-999-6442. If you are brokering mortgages on other property, such as commercial property or residential properties of more than four units, you must be licensed as a real estate broker. Please see Rule 321 about accepting fees for mortgage brokerage activities, if you also obtain a mortgage broker license or work for a mortgage company.