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Thread: unlicensed Loan officer California

  1. #1
    Junior Member
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    Sep 2006
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    Thousand Oaks, CA
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    Default unlicensed Loan officer California

    Who do I specifically contact if a loan officer in CA is operating without a license. I believe it's fraud and this person has given bad advice to some of our clients.

  2. #2
    Moderator
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    Default

    California loan officers and Mortgage Broker's must be licensed through the California Dept of Real Estate or The Calif. Dept. of Corporations. If you're having issues, you might want to post it on the General Real Estate section of the Appraiser's Forum at http://www.appraisersforum.com. They have a lot of experience with Mortgage Broker problems as well as mortgage fraud.

  3. #3
    Junior Member
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    Mar 2007
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    It is perfectly legal and not fraudulent to originate loans as an unlicensed loan officer as long as the loan officer is employed by a company that is regulated under the California Department of Corporations.

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