K
kellyt
Guest
My co-worker is performing all the duties of a licensed salesperson w/o his Ca real estate license. The owner of the company has told him several times that this is not a problem as long as he is in the process of obtaining one.
With increasing int rates and borrowers loosing their locks, each loan officer will potentially be put under a microscope.
Their are several lawsuits (at other companies) that were a direct result of borrowers loosing locks.
I'm assuming the company we work for has extreme exposure and could be dealt with by the DRE.
My primary concern is with the LO sans license. Could you please explain potential liability to both the company and the unlicensed loan officer?
Thank you...
With increasing int rates and borrowers loosing their locks, each loan officer will potentially be put under a microscope.
Their are several lawsuits (at other companies) that were a direct result of borrowers loosing locks.
I'm assuming the company we work for has extreme exposure and could be dealt with by the DRE.
My primary concern is with the LO sans license. Could you please explain potential liability to both the company and the unlicensed loan officer?
Thank you...