Drake Park (Long Beach, CA)
By Kirk Mulhearn
(Prudential California Realty/Gem Mortgage)
Long Beach, CA.   Two years ago, there were over 90000 mortgage brokers nationwide.  Last year, less then half of those applied for the stringent new licensing requirments demanded by State governments.  Now, less then 36% of those people who applied for their licenses have reapplied to continue to practise as mortgage brokers.  The bottom line is that there is much less choices for consumers and much hire cost to get a mortgage in today's real estate market. Home buyers need to be aware of what the State of California will do with the implementation of the SAFE act,  it stands for Secure and Fair Enforcement for Mortgage Licensing Act.  In a few weeks California will enact the SAFE Act which means individuals will have to obtain their own licenses if they want to operate as loan broker...
Comments 0
Community Sponsor Long Beach, CA Real Estate Professionals