Category: SB 6471

Update on the May 7 Mortgage Broker Commission Meeting and SB 6471

At the beginning of every law, there’s a preamble and then a set of definitions. Many of you know this: A mortgage broker is not a lender. A lender is defined by federal law, RESPA, as an entity that makes loans.  This means the entity has the money to fund the loans. Brokers, by definition [...]