FundRobot » Bond Funds » Can a mortgage brokerage company broker a mortgage loan prior to incorporation or formation by the state?

Reply
Old   #1 (permalink)
 
Posts: 2,555
Default can a mortgage brokerage company broker a mortgage loan prior to incorporation or formation by the state

While researching information pertaining to massive and systemic real estate crimes involving mortgage, foreclosure, bank, wire and mail frauds, money laundering and a list of financial crimes too numerous to mention here.. I discovered the "significantly responsible" mortgage brokerage company (and owner) had also brokered and obtained the fraudulent loan prior to incorporation or formation. Is there any significance to this fact?

TodayIBUY is offline   Reply With Quote
Old   #2 (permalink)
 
Posts: 2,586
Default can a mortgage brokerage company broker a mortgage loan prior to incorporation or formation by the state

I would think it depends on the state law. Most don't have an actual crime until a mortgage document is signed. If they incorporated BEFORE the doc's were signed, i doubt it would be actionable.

Just an opinion.
Gamer125 is offline   Reply With Quote
more..
Old   #3 (permalink)
 
Posts: 2,620
Default can a mortgage brokerage company broker a mortgage loan prior to incorporation or formation by the state

In order to legally broker a mortgage loan, the direct lender funding the mortgage loan would require the mortgage broker to have a mortgage broker license issued by the state in which the mortgage loan is to be funded, prior to the closing of any mortgage loans they would fund.

There are specific watchdog groups set up by the federal and state governments to investigate any violations of the applicable laws governing fraud and other criminal activities found with mortgage brokers who would violate the laws of real estate brokering of mortgage loans.

There are also watch dog groups set up to oversee the stock and bond brokers that would commit fraud in their area of expertise.


In any group you will always find those that would break the law. Some get away with breaking laws for long periods of time.

I hope this has been of some benefit to you,good luck.

"FIGHT ON"
Awesome90 is offline   Reply With Quote
Reply

Bookmarks

Thread Tools