Comments on: Finding an Honest Mortgage Lender http://www.mortgagecreditproblems.com/blog/finding-an-honest-mortgage-lender/ Mortgage Credit Problems: Helping You Find a Home Loan with Bad Credit Wed, 07 Jan 2009 04:34:25 +0000 http://wordpress.org/?v=2.3.2 By: Gina Pogol http://www.mortgagecreditproblems.com/blog/finding-an-honest-mortgage-lender/#comment-96 Gina Pogol Mon, 21 Jul 2008 20:04:42 +0000 http://www.mortgagecreditproblems.com/blog/finding-an-honest-mortgage-lender/#comment-96 Hi Clark, If your state has a list but your lender isn't on it the company may not have the right to do business in your state. At the very least (I assume you have dealt with this lender before and like the firm) I would follow up and make sure there are no legal complaints and that there is a license (if required). I would also shop a bit just to know I am being treated fairly. In the absence of good information (some states just don't make it available) I'd probably go with a federally- or- state-regulated bank. Larger institutions (with more to lose and generally more stringent hiring practices) are less likely to hire fraudsters. And these banks are generally subject to more scrutiny than the local broker. Hi Clark,

If your state has a list but your lender isn’t on it the company may not have the right to do business in your state. At the very least (I assume you have dealt with this lender before and like the firm) I would follow up and make sure there are no legal complaints and that there is a license (if required). I would also shop a bit just to know I am being treated fairly.

In the absence of good information (some states just don’t make it available) I’d probably go with a federally- or- state-regulated bank. Larger institutions (with more to lose and generally more stringent hiring practices) are less likely to hire fraudsters. And these banks are generally subject to more scrutiny than the local broker.

]]> By: Gina Pogol http://www.mortgagecreditproblems.com/blog/finding-an-honest-mortgage-lender/#comment-95 Gina Pogol Mon, 21 Jul 2008 19:50:32 +0000 http://www.mortgagecreditproblems.com/blog/finding-an-honest-mortgage-lender/#comment-95 About half had committed crimes like fraud and money laundering. Some had even been convicted of violent crimes. And while lending industry trade groups were BEGGING the state to regulate loan originators the state refused to do so. Makes you wonder who benefitted from that arrangement..... About half had committed crimes like fraud and money laundering. Some had even been convicted of violent crimes. And while lending industry trade groups were BEGGING the state to regulate loan originators the state refused to do so. Makes you wonder who benefitted from that arrangement…..

]]> By: K. Cummings http://www.mortgagecreditproblems.com/blog/finding-an-honest-mortgage-lender/#comment-94 K. Cummings Mon, 21 Jul 2008 19:47:56 +0000 http://www.mortgagecreditproblems.com/blog/finding-an-honest-mortgage-lender/#comment-94 This is interesting and yes, quite scary. Did they mention how these "mortgage professionals" got their felonies? It wouldn't be from fraud by any chance? :) This is interesting and yes, quite scary. Did they mention how these “mortgage professionals” got their felonies? It wouldn’t be from fraud by any chance? :)

]]> By: Clark http://www.mortgagecreditproblems.com/blog/finding-an-honest-mortgage-lender/#comment-93 Clark Mon, 21 Jul 2008 18:38:39 +0000 http://www.mortgagecreditproblems.com/blog/finding-an-honest-mortgage-lender/#comment-93 Wow, now we have a bunch of felons putting together mortgages. That's a scary thought. Thanks for the info on finding out if your lender is reputable with the links to the state requirements and everything, extremely helpful. What if you can't find your lender in the database? Would it be wiser to go with someone else? Wow, now we have a bunch of felons putting together mortgages. That’s a scary thought. Thanks for the info on finding out if your lender is reputable with the links to the state requirements and everything, extremely helpful. What if you can’t find your lender in the database? Would it be wiser to go with someone else?

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