Loan Mod. Companies Try To Get Compliant
Find Out How New Nevada Law Affects Consumers
POSTED: 7:50 pm PST November 3,
2009
UPDATED: 8:00 pm PST November 3,
2009
LAS VEGAS -- Nevada homeowners flooded the state’s Division of Mortgage Lending Web site Tuesday to see if their loan modification company was still in business.Related Link: Nevada Division of Mortgage LendingState officials announced 30 companies would be shut down after they failed to obtain a minimum $75,000 surety bond required by law to protect consumers.Watch FOX5 News at 10 and 11 to see what it takes for lenders to become compliant and hear from one company who made the non-compliant list.A list of companies still eligible to provide loan modifications was posted on the agency’s Web site and will continue to be updated. Companies who are no longer authorized to conduct loan modifications are given 10 days to close down and cancel contracts with homeowners.
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