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July 13, 2005
Will the licensing keep mortgage brokers from fraud?
As Denver Post reports, two mortgage brokers and a real estate agent got indicted for fabricating paperwork for illegal aliens to help them in obtaining mortgages.
The three were charged " ... with forgery, theft and conspiracy under the Colorado Organized Crime Control Act."
Pretty serious stuff and the Post goes on saying that there is no any licensing for loan officers in Colorado and anyone convicted in another state can relocate there and start writing mortgages.
The real estate agent was licensed of course.
Posted in Mortgages at July 13, 2005 04:30 PM
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