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Is this a violation of the law?

 
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JamesM



Joined: 07 May 2004
Posts: 8
PostPosted: Tue Mar 21, 2006 1:06 pm    Post subject: Is this a violation of the law? Reply with quote
I work for a mortgage broker in Missouri. We are not lisenced in any other states, including Illinois. When we are contacted by customers in Illinois we submit the loan to the lender in another companies name. We have designated phone lines and email accounts for our "Illinois" company. I am concerned that I may be committing wire fraud if I continue originating these loans. If anyone has any information regarding this please share. Thanks.
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PatentLawyerDC



Joined: 02 Dec 2004
Posts: 5
PostPosted: Mon Mar 27, 2006 5:40 am    Post subject: Is this a violation of the law? Reply with quote
I really dont know. But you can ask your lawyer about it and find out safely.
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Tmarie99



Joined: 11 Aug 2005
Posts: 2
PostPosted: Sat Apr 01, 2006 10:13 pm    Post subject: Is this a violation of the law? Reply with quote
Find a new job - if you feel you are then get out.I think what you are doin is illegal
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MamaLee



Joined: 03 Sep 2004
Posts: 6
PostPosted: Fri Apr 07, 2006 2:47 pm    Post subject: Is this a violation of the law? Reply with quote
This is a very gray issue. If you are actually submitting a loan application in the name of a licensed broker that has hired you as a subcontractor, then you probably are not breaking the law. That company would need to make sure that it is valid for you to be a subcontractor under Illinois law. The company that is licensed in Illinois would be the one breaking any laws, not you.
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BrittanyMarie



Joined: 21 Sep 2004
Posts: 8
PostPosted: Thu Apr 13, 2006 7:20 am    Post subject: Is this a violation of the law? Reply with quote
I would probably have to say yes because it is usually illegal to sign something in someone besides your own's name. I would probably stop your actions immediately and just get licensees in the other states you work in.
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ThirrinT



Joined: 18 Jan 2005
Posts: 5
PostPosted: Tue Apr 18, 2006 11:54 pm    Post subject: Is this a violation of the law? Reply with quote
doesnt sound ethical
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Nefertiti



Joined: 06 Apr 2004
Posts: 7
PostPosted: Mon Apr 24, 2006 4:28 pm    Post subject: Is this a violation of the law? Reply with quote
I think it's against the law. I'd suggest getting out of that business.
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