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fima_3701 · Joined: 29 Apr 2009 Posts: 1 1.37 Dollars($)

How i can get a license for mortgage modification in ny ?
Do I need it ?

jameshogg

Hi fima,

Yes, you will require a license for loan modification in New York. The real estate commission of your state will typically know the regulations regarding mortgage modifications. They will be able to tell you how you can obtain the license.

Thanks

gmakerley

a license to do what, become a modification company?

if that's your plan, i pray that you won't treat people like most of those companies do. i still warn all consumers not to pay for help in getting a modification, since there are plenty of resources that will work on such a plan for no compensation.

JKennedySLG · Posted: Thu Apr 30, 2009 10:43 am Post subject: loan modification license

Contact an attorney in your area to find out more information. You're going to need one if you plan on having any sort of success. You should really look into all aspects before jumping right in. Good luck, I hope this helps...

Guest

I keep hearing and reading warnings about paying Loan Modification Companies for services. My mortgage was services by AHMSI (American Home Mortgage Servicing Inc.) and it was a nightmare. Impossible to deal with on any level. After 6 months of futile attempts, sending 100's of copies of docs, I gave up. Next I contacted the referred government source, only to get the runaround there. They said they could really help get my loan modified only that they could advise me how. I had already tried every option they provided. Next, I contacted a local attorney who owns a mortgage company and within 2 weeks I got results. A 10.25 ARM adjusted to a 5.5 -30 year fixed. It costs me $1500 bucks but I wasted 6 months of my time trying to do it myself. Don't waste your time trying to do this yourself. And don't look for someone to do it for FREE! If you're in Texas I can refer you to my attorney, out of Texas find a good real estate attorney to work with. Don't be afraid to layout the cash. These guys aren't going to risk being disbarred over such a small fee. Remember if you put out peanuts, all you'll get is monkeys.....

Guest

Most of the states require that a loan modification consultant must have an active Mortgage broker license or be an attorney. Other states do not have guidelines for loan modification consultants though it seems every month, more and more states are requiring mortgage licensing or be an attorney. In the recent future, mortgage consultants would require a proof of licensing of some sort.

gmakerley · Posted: Tue Jul 28, 2009 8:50 am Post subject:

debbie, please elaborate on your last sentence.

Niicss · Posted: Fri Jul 31, 2009 2:57 am Post subject: Loan modification license

George, I guess Debbie wants to say that mortgage consultants would be requiring some sort of licensing in the near future in order to do a loan modification.

gmakerley · Posted: Fri Jul 31, 2009 7:53 am Post subject:

i am a licensed loan officer. i do not do modifications, however. brokers also must be licensed, but there are, likely, very few brokers who would be able to do modifications.

the lenders/servicers who hold mortgages are those who would be doing modifications. i suppose what the topic might be about is those who act on behalf of clients in seeking a modification. i want so badly to put that last phrase in quotes so as to identify my skepticism, but i'll leave it for now.

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Loan Modification License