Posted by FrankWI on May 21, 1999 at 10:48:00:
I agree with JPiper. Most states have licensing requirement for mortgage companies/brokers. As a mortgage broker/banker, I can not do business in any given state without meeting their requirements. Such as license fees, bonds, or background checks performed by that state.
This is to control those who obtain personal consumer information and what they do with it. It basically protects you, the consumer.
Most states require that the broker/banker have an office within that state where the license is to be posted for public viewing.
Doing business with a non-licensed broker/banker could cause problems for you. So be careful of who you give your personal information to.