When Will the Mortgage Industy Start Revoking Licences – Second NAMB President Signs Consent Agreement with PA Department of Banking Bureau Compliance Investigation & Licencing for Violating and doing Unethical Loans
Current National Association of Mortgage Brokers (namb.org) President Michael D’Alonzo and his company, Creative Mortgage signed a consent agreement with the Commonwealth of Pennsylvania for violations of the Real Estate Settlement Procedures Act and the Pennsylvania Mortgage Licensing Act. The state alleged that on 18 occasions Creative Mortgage, Michael D’Alonzo owned company, a non FHA-approved mortgage broker, submitted FHA insured mortgage…