Relevant:
- NEVADA - State Releases Names of Legal Loan Modification Companies
- FTC Blocks Loan Mod Consultants from Collecting Upfront Fees; 3Q Loan Production Stats; Florida Extends L.O Licensing Deadline; Unrealized Losses
- 30 mortgage modification companies being forced to close their doors
- Nevada records First Fully-licensed Loan Mod Firm
- Home fraud shield law on Gov. Paterson's desk would fight loan scams
2009-10-26 — lvrj.com
None has met requirements for surety bonds
Nevada's emerging home mortgage modification industry is running into a big hurdle just as it starts to operate under a new law.
A new state law required home loan modification and foreclosure consultants to obtain licenses from the mortgage division. While 50 applications are being processed, none of the applicants has posted the required $75,000 surety bonds, according to the division.
The deadline to post the bonds is Thursday, and anyone that continues operating without a bond could be fined.
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