Lender verification system. Hmm, well, let’s think about this, this is Shana Acquisto. She’s a real estate broker, not a lender. I know that. I do. I know that because I’ve seen her license. But some of these people we maybe haven’t seen all this information on, so we’re going to do is show you how you can research your lender to actually look them up and see if they’re actually licensed in the state to do business.

There’s a lot of different things going on. Maybe this is shady, maybe it’s not. Let’s just see how long they’ve been in business. Maybe some people boast about things. So here’s the link. We’re going to chat that one in for you. And what you’ll be able to do right here is simply go in and type in their information and be able to look them up. Verify the license number that they’re providing to you is accurate, see if there’s any issues with them, see if there’s any disciplinary stuff. How long have they been in this? Did they just start last week?

Let’s understand what’s going on. Are they part of the Goose Club? Have they sold nothing ever? Right. So that’s one of those things as a lender that you want to make sure, are they still sitting on that big goose egg? So as we look over here, what you’ll be able to do is, OK, it’s totally fine. OK, but here are some search tips. You can look through this. There’s ways that you can search provides all the information.

You’ll be able to look up and address the lender, their company, their I.D. number. You’ll be able to look up all of these different items so that you can go ahead and research when this individual is. So this links now available for you. There’s a bunch of different ways in which this could help you. Shana, right? Yeah. All right. So let’s discuss a few real quick. Come back here.

Well, do you want to talk about we’re continuing on with what happened yesterday.
You tell me anything, looked at this company and they were not there. They did not exist. However, this particular lender was not.

The lender gave some information, said we’re not licensed in the state of Texas, but I don’t do enough business there, so legally I can’t do business there.

I realize I don’t know. It was this whole thing has been shady. And it’s like, what’s the angle here? Does someone really feel that they’re going to get money and they’re trying to, you know, why would someone go through this exercise of not being truthful? But, you know, just because they’re. Well, especially if you see a lender that’s not in Texas and not local, then, yes, you really need to dig and find more information out.

Yeah, I don’t know how that would work. They’re not licensed in the state, but because they do so little business, there’s a loophole that they can be do business here. I don’t know. In my world there’s not a loophole in which I can be a licensed realtor in another state and do business there. If I’m not licensed there. There’s not like a loophole that I know of that just because I do so little business in the state of Alaska that I can all of a sudden do business there. Now, on this one off case, I don’t know. I’m just reporting and you can decide.

Well, and the question was asked, is this lender do a lot of business in the state that he’s in and just not Texas and see from now? So just allow even better information and protect your clients. Very good.

Episode Recorded Live on YouTube 4.9.21

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