Is there a list of predoratory lenders out there. How can I give my customer (I sell real estate in central new york) the best and most truthful information on this subject.
2006-08-10 13:23:27 · 2 answers · asked by kaleenalynne 3 in Business & Finance ➔ Renting & Real Estate
I received a call from a customer and I have never heard of the mortgage corp. Its called Southern Star, and she asked whether it was a good company. She didn't go through a mortgage company that is associated with our brokerage.
2006-08-11 02:07:08 · update #1
In PA, complaints about lenders are sent to the Department of Banking and any professional associations like the PAMB. I'm sure that NY has similar types of websites. I hope this helps....
Anne : )
PS. try this link: http://www.southernstarmortgage.com
2006-08-10 15:25:02 · answer #1 · answered by amkornele 3 · 1⤊ 0⤋
Why are you concerned with this question. Your job is getting a quality loan for your clients. You should have made contact with professional mortgage brokers that are not predators nor use them as underwriters for their loans.
When you refer a client to your mortgage broker and the client ask that question, your response should be I think there is a list of them, however, the member on my professional team that will qualify you for a mortgage is not a predator lender nor do they underwrite any of his loans.
I have been using this mortgage broker for whatever number of years you have been using him.
If you are attempting to do both the selling of the house and doing loans at the same time that is a different story. That is an individual thing. If you devoted your time to one of the two it would be a simpler answer because if you were only selling the house you would just have to refer to the statement above. If you are doing both now you have to waste valuable selling time finding the information out.
Each state has made a law of what is considered predatory in their state. Contact you state Department of Corporation or your Department of Finance/mortgage or your state mortgage association for the information you are seeking.
I hope this is of some use to you,good luck.
"FIGHT ON"
2006-08-10 23:23:45 · answer #2 · answered by Skip 6 · 0⤊ 0⤋