I know I didn't need a license to become a loan officer for residential loans. The question I ask myself is do I need a license to broker commerical loans or should I say receive commission from a commercial loan. Someone please explain.

It depends on the state. Most states do not require any kind of licensing to broker commercial loans.

James,
Try silverhillfinancial.com great website that will teach you how to originate a commerical loan. Also Scotsman Guide will give you a great list of lenders for your client. If your client trust you as you state why cobroker a deal when you can get it done yourself.

Does all commerical loans have a disclosure statement called a HUD that indicates where the money was dispersed for the total loan and fees charges?

James,

Yes. All closed loans have a seetlement statements showing how funds were dispersed and disclosing all costs and fees.