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Answers (4)
- Juan Velazquez, "Juan M. Velazquez"
- Contributions:8
One way to check with the state to make sure a lender or broker are legit,Some states will post if they lender or broker have committed any fraud.. if you have question call or check the websites for licenced, lenders, banks etc..hope this helps.
- shapiroamg
- Contributions:3058
So if you were "wronged" by said lender/broker, you could register a complaint with the state licencing agency for Mortage Brokers and Lenders. The licencing agency can work to resolve your complaint. It is a measure of protection for the comsumer. (at least in theory)
- Dave Mason, "DebtFreeDave"
- Contributions:1315
Lenders are bad because we caused the housing crisis. A license will make us good so we know not to do bad things anymore. Realtors have a license and they didn't contribute to the housing crisis.. wait that doesn't work.. I don't know why...
- Nikolai Lukin, "nlukin"
- Contributions:19
what is the significance of state license for a lender?
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